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

Shares of Independent Bank Group, Inc. (NASDAQ:IBTX) have earned an average recommendation of “Moderate Buy” from the six analysts that are covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and four have given a buy recommendation to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $48.33.

A number of analysts have recently commented on IBTX shares. Keefe, Bruyette & Woods lowered their price target on Independent Bank Group from $55.00 to $46.00 and set an “outperform” rating for the company in a research note on Friday, April 26th. Raymond James upped their price target on Independent Bank Group from $56.00 to $59.00 and gave the company an “outperform” rating in a research note on Wednesday, January 24th. Truist Financial lowered their price target on Independent Bank Group from $52.00 to $46.00 and set a “buy” rating for the company in a research note on Thursday, April 25th. Stephens reaffirmed an “overweight” rating and issued a $55.00 price target on shares of Independent Bank Group in a research note on Tuesday, April 23rd. Finally, StockNews.com raised Independent Bank Group to a “sell” rating in a research note on Thursday, January 25th.

Independent Bank Group Stock Performance

Independent Bank Group stock opened at $40.31 on Friday. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.23. Independent Bank Group has a 1 year low of $28.81 and a 1 year high of $53.25. The company has a market cap of $1.67 billion, a PE ratio of 15.93 and a beta of 1.36. The company’s 50-day moving average is $42.41 and its two-hundred day moving average is $43.62.

Independent Bank Group (NASDAQ:IBTX) last released its earnings results on Tuesday, April 23rd. The bank reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.06. The company had revenue of $119.10 million for the quarter, compared to the consensus estimate of $121.39 million. Independent Bank Group had a net margin of 10.96% and a return on equity of 4.97%. The company’s revenue was down 15.3% compared to the same quarter last year. During the same period in the prior year, the company posted $1.07 EPS. Equities analysts anticipate that Independent Bank Group will post 2.63 earnings per share for the current year.

Independent Bank Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 16th. Investors of record on Thursday, May 2nd will be paid a dividend of $0.38 per share. The ex-dividend date is Wednesday, May 1st. This represents a $1.52 dividend on an annualized basis and a yield of 3.77%. Independent Bank Group’s payout ratio is 60.08%.

Hedge Funds Weigh In On Independent Bank Group

Large investors have recently bought and sold shares of the company. Fidelis Capital Partners LLC acquired a new position in Independent Bank Group during the 1st quarter worth approximately $33,000. GAMMA Investing LLC acquired a new position in Independent Bank Group during the 4th quarter worth approximately $47,000. NBC Securities Inc. acquired a new position in Independent Bank Group during the 3rd quarter worth approximately $55,000. Signaturefd LLC boosted its position in Independent Bank Group by 49.8% during the 3rd quarter. Signaturefd LLC now owns 1,513 shares of the bank’s stock worth $60,000 after acquiring an additional 503 shares during the last quarter. Finally, PNC Financial Services Group Inc. boosted its holdings in shares of Independent Bank Group by 51.3% in the 3rd quarter. PNC Financial Services Group Inc. now owns 2,727 shares of the bank’s stock valued at $108,000 after buying an additional 925 shares during the last quarter. Institutional investors and hedge funds own 77.90% of the company’s stock.

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.