Independent Bank Group (NASDAQ:IBTX) Coverage Initiated at StockNews.com

StockNews.com began coverage on shares of Independent Bank Group (NASDAQ:IBTX) in a research report released on Monday morning. The brokerage issued a sell rating on the bank’s stock.

Other equities analysts have also issued research reports about the company. Keefe, Bruyette & Woods increased their target price on Independent Bank Group from $57.00 to $66.00 and gave the company an “outperform” rating in a research note on Monday, July 29th. Truist Financial increased their price target on shares of Independent Bank Group from $65.00 to $66.00 and gave the company a “hold” rating in a research report on Friday, September 20th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $57.83.

Independent Bank Group Stock Up 1.8 %

Shares of NASDAQ:IBTX opened at $58.93 on Monday. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.96 and a quick ratio of 0.96. The stock has a market cap of $2.44 billion, a price-to-earnings ratio of 23.29 and a beta of 1.38. The company has a 50 day moving average of $57.51 and a 200-day moving average of $50.07. Independent Bank Group has a one year low of $34.50 and a one year high of $62.25.

Independent Bank Group (NASDAQ:IBTX) last issued its earnings results on Monday, October 21st. The bank reported $0.50 EPS for the quarter, missing the consensus estimate 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 negative net margin of 43.02% and a positive return on equity of 4.83%. During the same quarter in the previous year, the firm posted $0.79 EPS. On average, sell-side analysts forecast that Independent Bank Group will post 2.86 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, November 14th. Investors of record on Thursday, October 31st will be paid a dividend of $0.38 per share. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $1.52 dividend on an annualized basis and a yield of 2.58%. Independent Bank Group’s payout ratio is 60.08%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. grew its holdings in shares of Independent Bank Group by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 4,180,301 shares of the bank’s stock worth $212,694,000 after buying an additional 22,245 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Independent Bank Group by 1.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,316,743 shares of the bank’s stock worth $105,456,000 after acquiring an additional 39,091 shares in the last quarter. Magnetar Financial LLC acquired a new stake in shares of Independent Bank Group in the second quarter valued at approximately $14,146,000. Bessemer Group Inc. lifted its position in shares of Independent Bank Group by 6.8% in the first quarter. Bessemer Group Inc. now owns 226,860 shares of the bank’s stock worth $10,357,000 after purchasing an additional 14,534 shares in the last quarter. Finally, Silver Lake Advisory LLC acquired a new position in Independent Bank Group during the second quarter worth $5,491,000. Institutional investors 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.