Independent Bank Group, Inc. (NASDAQ:IBTX) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Independent Bank Group, Inc. (NASDAQ:IBTX) have earned a consensus rating of “Moderate Buy” from the six ratings firms that are covering the company, Marketbeat reports. Two research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $60.33.

A number of research analysts have weighed in on IBTX shares. StockNews.com began coverage on Independent Bank Group in a research note on Monday, December 16th. They issued a “sell” rating for the company. Keefe, Bruyette & Woods boosted their target price on shares of Independent Bank Group from $72.00 to $81.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. Finally, Truist Financial dropped their price target on shares of Independent Bank Group from $66.00 to $63.00 and set a “hold” rating on the stock in a research report on Wednesday, October 23rd.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of IBTX. Geode Capital Management LLC boosted its holdings in shares of Independent Bank Group by 1.8% during the third quarter. Geode Capital Management LLC now owns 879,076 shares of the bank’s stock worth $50,697,000 after acquiring an additional 15,447 shares during the period. Barclays PLC lifted its holdings in Independent Bank Group by 71.9% during the 3rd quarter. Barclays PLC now owns 79,414 shares of the bank’s stock worth $4,578,000 after purchasing an additional 33,213 shares during the last quarter. XTX Topco Ltd bought a new stake in Independent Bank Group in the 3rd quarter valued at $314,000. Jane Street Group LLC grew its holdings in Independent Bank Group by 76.3% in the 3rd quarter. Jane Street Group LLC now owns 61,046 shares of the bank’s stock valued at $3,520,000 after buying an additional 26,414 shares in the last quarter. Finally, Edgestream Partners L.P. bought a new position in Independent Bank Group during the 3rd quarter worth $3,521,000. Institutional investors and hedge funds own 77.90% of the company’s stock.

Independent Bank Group Stock Performance

Shares of IBTX stock opened at $60.28 on Monday. The firm has a market cap of $2.50 billion, a PE ratio of -5.76 and a beta of 1.39. Independent Bank Group has a 12 month low of $36.47 and a 12 month high of $68.66. The company’s fifty day simple moving average is $63.06 and its 200-day simple moving average is $56.37. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.26.

Independent Bank Group (NASDAQ:IBTX) last posted its quarterly earnings data on Monday, October 21st. The bank reported $0.50 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 analyst estimates 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 prior year, the company earned $0.79 earnings per share. Equities research analysts expect that Independent Bank Group will post 2.7 EPS for the current fiscal year.

Independent Bank Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Thursday, October 31st were given a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 2.52%. The ex-dividend date of this dividend was Thursday, October 31st. Independent Bank Group’s payout ratio is presently -14.53%.

About Independent Bank Group

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.