Investment Analysts’ Recent Ratings Updates for Independent Bank Group (IBTX)

Independent Bank Group (NASDAQ: IBTX) has recently received a number of price target changes and ratings updates:

• 12/8/2024 – Independent Bank Group is now covered by analysts at StockNews.com. They set a “sell” rating on the stock.
• 12/4/2024 – Independent Bank Group had its price target raised by analysts at Keefe, Bruyette & Woods from $72.00 to $81.00. They now have an “outperform” rating on the stock.
• 11/30/2024 – Independent Bank Group is now covered by analysts at StockNews.com. They set a “sell” rating on the stock.
• 11/22/2024 – Independent Bank Group is now covered by analysts at StockNews.com. They set a “sell” rating on the stock.
• 11/14/2024 – Independent Bank Group is now covered by analysts at StockNews.com. They set a “sell” rating on the stock.
• 11/7/2024 – Independent Bank Group had its price target raised by analysts at Keefe, Bruyette & Woods from $69.00 to $72.00. They now have an “outperform” rating on the stock.
• 11/6/2024 – Independent Bank Group is now covered by analysts at StockNews.com. They set a “sell” rating on the stock.
• 10/29/2024 – Independent Bank Group is now covered by analysts at StockNews.com. They set a “sell” rating on the stock.
• 10/23/2024 – Independent Bank Group had its price target lowered by analysts at Truist Financial Co. from $66.00 to $63.00. They now have a “hold” rating on the stock.
• 10/21/2024 – Independent Bank Group is now covered by analysts at StockNews.com. They set a “sell” rating on the stock.
• 10/13/2024 – Independent Bank Group is now covered by analysts at StockNews.com. They set a “sell” rating on the stock.

Independent Bank Group Price Performance

Shares of NASDAQ IBTX traded up $0.15 during mid-day trading on Monday, hitting $67.34. 15,941 shares of the stock were exchanged, compared to its average volume of 236,627. The company has a market cap of $2.79 billion, a P/E ratio of -6.44 and a beta of 1.39. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.97 and a current ratio of 0.97. Independent Bank Group, Inc. has a twelve month low of $36.47 and a twelve month high of $68.66. The stock’s fifty day simple moving average is $61.62 and its two-hundred day simple moving average is $55.06.

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

Independent Bank Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st were paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.26%. The ex-dividend date was Thursday, October 31st. Independent Bank Group’s dividend payout ratio is presently -14.53%.

Hedge Funds Weigh In On Independent Bank Group

Several large investors have recently made changes to their positions in IBTX. Magnetar Financial LLC bought a new stake in shares of Independent Bank Group in the second quarter worth about $14,146,000. FMR LLC lifted its stake in Independent Bank Group by 8.1% in the third quarter. FMR LLC now owns 3,725,572 shares of the bank’s stock valued at $214,816,000 after buying an additional 279,112 shares in the last quarter. Silver Lake Advisory LLC acquired a new position in shares of Independent Bank Group in the second quarter valued at approximately $5,491,000. Edgestream Partners L.P. bought a new stake in shares of Independent Bank Group during the third quarter worth $3,521,000. Finally, Westchester Capital Management LLC lifted its position in Independent Bank Group by 15.5% in the 3rd quarter. Westchester Capital Management LLC now owns 304,444 shares of the bank’s stock valued at $17,554,000 after acquiring an additional 40,944 shares in the last quarter. Institutional investors and hedge funds own 77.90% of the company’s stock.

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.