Independent Bank Group, Inc. (NASDAQ:IBTX) Receives $60.33 Average Target Price from Analysts

Independent Bank Group, Inc. (NASDAQ:IBTX) has been given an average rating of “Moderate Buy” by the six analysts that are covering the company, Marketbeat reports. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $60.33.

A number of research firms have commented on IBTX. StockNews.com initiated coverage on shares of Independent Bank Group in a report on Thursday, January 9th. They issued a “sell” rating for the company. Truist Financial reduced their target price on Independent Bank Group from $66.00 to $63.00 and set a “hold” rating for the company in a research note on Wednesday, October 23rd. Finally, Keefe, Bruyette & Woods upped their price target on Independent Bank Group from $72.00 to $81.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th.

Independent Bank Group Stock Up 0.5 %

Shares of Independent Bank Group stock opened at $60.67 on Friday. The stock’s 50-day moving average is $63.60 and its 200 day moving average is $58.33. Independent Bank Group has a one year low of $36.47 and a one year high of $68.66. The firm has a market cap of $2.51 billion, a price-to-earnings ratio of -5.80 and a beta of 1.39. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.97 and a quick ratio of 0.97.

Independent Bank Group (NASDAQ:IBTX) last posted its quarterly earnings results on Monday, October 21st. The bank reported $0.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.21). The business had revenue of $255.18 million for the quarter, compared to the consensus estimate of $124.48 million. Independent Bank Group had a positive return on equity of 4.49% and a negative net margin of 43.45%. During the same quarter in the previous year, the company posted $0.79 earnings per share. Equities research analysts anticipate that Independent Bank Group will post 2.7 EPS for the current year.

Independent Bank Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Thursday, October 31st were issued a $0.38 dividend. The ex-dividend date was Thursday, October 31st. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.51%. Independent Bank Group’s dividend payout ratio is presently -14.53%.

Hedge Funds Weigh In On Independent Bank Group

Hedge funds have recently added to or reduced their stakes in the stock. Blue Trust Inc. lifted its holdings in shares of Independent Bank Group by 1,576.9% in the third quarter. Blue Trust Inc. now owns 872 shares of the bank’s stock valued at $50,000 after purchasing an additional 820 shares in the last quarter. CIBC Asset Management Inc purchased a new stake in Independent Bank Group in the 3rd quarter valued at $204,000. AQR Capital Management LLC bought a new position in Independent Bank Group during the 2nd quarter valued at $212,000. Hancock Whitney Corp purchased a new position in Independent Bank Group during the 3rd quarter worth $222,000. Finally, Everence Capital Management Inc. bought a new stake in shares of Independent Bank Group in the 3rd quarter worth $273,000. Institutional investors and hedge funds own 77.90% of the company’s stock.

Independent Bank Group Company Profile

Independent Bank Group, Inc, through its subsidiary, Independent Bank provides various commercial banking products and services to businesses, professionals, and individuals in the United States. It accepts various deposit products, including checking and savings accounts, demand deposits, money market accounts, and certificates of deposit.