StockNews.com Begins Coverage on Independent Bank Group (NASDAQ:IBTX)

Investment analysts at StockNews.com initiated coverage on shares of Independent Bank Group (NASDAQ:IBTX) in a research report issued to clients and investors on Monday. The brokerage set a “sell” rating on the bank’s stock.

Several other equities research analysts have also weighed in on the stock. Keefe, Bruyette & Woods increased their price objective on shares of Independent Bank Group from $72.00 to $81.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. Truist Financial decreased their price target on Independent Bank Group from $66.00 to $63.00 and set a “hold” rating for the company in a research note on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $60.33.

Independent Bank Group Trading Down 1.9 %

Shares of IBTX stock opened at $64.05 on Monday. The firm’s 50 day moving average price is $62.79 and its two-hundred day moving average price is $55.92. Independent Bank Group has a fifty-two week low of $36.47 and a fifty-two week high of $68.66. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.26. The stock has a market cap of $2.65 billion, a price-to-earnings ratio of -6.12 and a beta of 1.39.

Independent Bank Group (NASDAQ:IBTX) last posted its quarterly earnings data on Monday, October 21st. The bank reported $0.50 earnings per share for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.21). Independent Bank Group had a negative net margin of 43.45% and a positive return on equity of 4.49%. The firm had revenue of $255.18 million during the quarter, compared to analysts’ expectations of $124.48 million. During the same period in the previous year, the company earned $0.79 earnings per share. On average, analysts anticipate that Independent Bank Group will post 2.7 EPS for the current year.

Institutional Investors Weigh In On Independent Bank Group

Several large investors have recently made changes to their positions in the company. Versor Investments LP grew its position in Independent Bank Group by 0.7% in the third quarter. Versor Investments LP now owns 28,658 shares of the bank’s stock valued at $1,652,000 after acquiring an additional 186 shares during the period. Louisiana State Employees Retirement System grew its holdings in Independent Bank Group by 1.7% during the 2nd quarter. Louisiana State Employees Retirement System now owns 18,100 shares of the bank’s stock worth $824,000 after acquiring an additional 300 shares during the last quarter. Sei Investments Co. lifted its position in shares of Independent Bank Group by 0.8% during the second quarter. Sei Investments Co. now owns 63,573 shares of the bank’s stock worth $2,894,000 after purchasing an additional 531 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in Independent Bank Group by 5.5% during the 2nd quarter. Victory Capital Management Inc. now owns 15,658 shares of the bank’s stock worth $713,000 after buying an additional 810 shares in the last quarter. Finally, Blue Trust Inc. boosted its position in Independent Bank Group by 1,576.9% in the 3rd quarter. Blue Trust Inc. now owns 872 shares of the bank’s stock valued at $50,000 after buying an additional 820 shares during the last quarter. 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.