Independent Bank Group, Inc (NASDAQ:IBTX)‘s stock had its “buy” rating reaffirmed by research analysts at Stephens in a research note issued on Tuesday. They presently have a $71.00 price target on the bank’s stock. Stephens’ price objective would suggest a potential upside of 21.06% from the company’s current price.

IBTX has been the subject of a number of other research reports. Zacks Investment Research raised shares of Independent Bank Group from a “hold” rating to a “buy” rating and set a $67.00 target price for the company in a research report on Tuesday, March 28th. Sandler O’Neill raised shares of Independent Bank Group from a “hold” rating to a “buy” rating and set a $70.00 target price for the company in a research report on Monday, June 26th. ValuEngine raised shares of Independent Bank Group from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. Finally, BidaskClub downgraded shares of Independent Bank Group from a “hold” rating to a “sell” rating in a research report on Wednesday, July 19th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $63.20.

Shares of Independent Bank Group (NASDAQ IBTX) traded up 0.68% during midday trading on Tuesday, hitting $59.05. 117,417 shares of the company’s stock were exchanged. Independent Bank Group has a one year low of $34.00 and a one year high of $66.85. The stock’s 50-day moving average price is $58.64 and its 200 day moving average price is $61.05. The firm has a market cap of $1.64 billion, a PE ratio of 19.48 and a beta of 1.26.

Independent Bank Group (NASDAQ:IBTX) last posted its quarterly earnings data on Monday, July 24th. The bank reported $0.82 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.82. Independent Bank Group had a net margin of 24.24% and a return on equity of 9.08%. The company had revenue of $80.50 million during the quarter, compared to the consensus estimate of $81.31 million. During the same quarter in the prior year, the company posted $0.74 EPS. The company’s quarterly revenue was up 58.4% compared to the same quarter last year. Equities research analysts forecast that Independent Bank Group will post $3.49 EPS for the current year.

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A number of hedge funds have recently bought and sold shares of the company. Acrospire Investment Management LLC increased its stake in Independent Bank Group by 108.5% in the first quarter. Acrospire Investment Management LLC now owns 2,498 shares of the bank’s stock worth $161,000 after buying an additional 1,300 shares during the period. Public Employees Retirement System of Ohio increased its stake in Independent Bank Group by 16.2% in the first quarter. Public Employees Retirement System of Ohio now owns 2,790 shares of the bank’s stock worth $179,000 after buying an additional 389 shares during the period. Karp Capital Management Corp acquired a new stake in Independent Bank Group during the first quarter worth about $202,000. Sapphire Star Partners LP acquired a new stake in Independent Bank Group during the first quarter worth about $285,000. Finally, Navellier & Associates Inc acquired a new stake in Independent Bank Group during the first quarter worth about $285,000. 33.58% of the stock is owned by hedge funds and other institutional investors.

Independent Bank Group Company Profile

Independent Bank Group, Inc is a bank holding company. Through the Company’s subsidiary, Independent Bank (the Bank), the Company provides a range of commercial banking products and services tailored to meet the needs of businesses, professionals and individuals. As of December 31, 2016, the Company operated 41 banking offices in the Dallas/North Texas area, the Austin/Central Texas area, and the Houston metropolitan area.

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