Independent Bank Group (NASDAQ:IBTX) Earns Sell Rating from Analysts at StockNews.com

StockNews.com assumed coverage on shares of Independent Bank Group (NASDAQ:IBTX) in a report published on Sunday morning. The firm issued a sell rating on the bank’s stock.

IBTX has been the topic of a number of other research reports. Hovde Group lowered their price target on Independent Bank Group from $53.00 to $46.00 and set a market perform rating on the stock in a research report on Wednesday, April 24th. Keefe, Bruyette & Woods boosted their target price on Independent Bank Group from $57.00 to $66.00 and gave the stock an outperform rating in a research report on Monday, July 29th. Stephens reiterated an overweight rating and set a $55.00 price target on shares of Independent Bank Group in a research report on Tuesday, April 23rd. Truist Financial lifted their price target on shares of Independent Bank Group from $48.00 to $65.00 and gave the stock a hold rating in a research note on Monday, July 29th. Finally, Piper Sandler raised shares of Independent Bank Group from an underweight rating to an overweight rating and increased their target price for the company from $38.00 to $58.00 in a report on Friday, May 31st. One analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of Hold and a consensus target price of $58.17.

Independent Bank Group Stock Down 0.8 %

IBTX stock opened at $55.00 on Friday. The company’s 50 day moving average is $49.84 and its 200 day moving average is $45.67. The stock has a market cap of $2.28 billion, a price-to-earnings ratio of 21.74 and a beta of 1.41. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.25. Independent Bank Group has a 1-year low of $34.50 and a 1-year high of $60.53.

Independent Bank Group (NASDAQ:IBTX) last issued its quarterly earnings results on Wednesday, July 24th. The bank reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.02. The firm had revenue of $252.52 million for the quarter, compared to analyst estimates of $120.25 million. Independent Bank Group had a negative net margin of 43.02% and a positive return on equity of 4.83%. During the same quarter in the prior year, the firm earned $0.82 EPS. Sell-side analysts predict that Independent Bank Group will post 2.69 EPS for the current fiscal year.

Independent Bank Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, August 19th. Stockholders of record on Monday, August 5th were issued a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 2.76%. The ex-dividend date of this dividend was Monday, August 5th. Independent Bank Group’s dividend payout ratio is 60.08%.

Institutional Investors Weigh In On Independent Bank Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Silver Lake Advisory LLC purchased a new position in shares of Independent Bank Group in the second quarter valued at about $5,491,000. Edgestream Partners L.P. increased its holdings in Independent Bank Group by 72.0% during the 1st quarter. Edgestream Partners L.P. now owns 68,249 shares of the bank’s stock valued at $3,116,000 after purchasing an additional 28,579 shares during the period. Bessemer Group Inc. raised its position in Independent Bank Group by 6.8% during the 1st quarter. Bessemer Group Inc. now owns 226,860 shares of the bank’s stock valued at $10,357,000 after purchasing an additional 14,534 shares during the last quarter. Hsbc Holdings PLC lifted its holdings in Independent Bank Group by 10.1% in the 4th quarter. Hsbc Holdings PLC now owns 11,353 shares of the bank’s stock worth $584,000 after buying an additional 1,046 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in shares of Independent Bank Group by 1.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,114,470 shares of the bank’s stock worth $107,588,000 after buying an additional 40,112 shares during the last quarter. 77.90% of the stock is currently owned by institutional investors.

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.