Independent Bank Group (NASDAQ:IBTX) Now Covered by Analysts at StockNews.com

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

IBTX has been the topic of several other research reports. Keefe, Bruyette & Woods lifted their target price on Independent Bank Group from $72.00 to $81.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. Truist Financial decreased their target price on shares of Independent Bank Group from $66.00 to $63.00 and set a “hold” rating for the company in a research report on Wednesday, October 23rd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, Independent Bank Group has an average rating of “Hold” and an average target price of $60.60.

Independent Bank Group Stock Up 0.5 %

Shares of NASDAQ IBTX opened at $60.67 on Friday. The stock has a market capitalization of $2.51 billion, a PE ratio of -5.80 and a beta of 1.39. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.26. Independent Bank Group has a 12-month low of $36.47 and a 12-month high of $68.66. The stock’s fifty day simple moving average is $62.40 and its two-hundred day simple moving average is $59.68.

Institutional Trading of Independent Bank Group

Large investors have recently bought and sold shares of the stock. Blue Trust Inc. raised its stake in shares of Independent Bank Group by 1,576.9% in the third quarter. Blue Trust Inc. now owns 872 shares of the bank’s stock worth $50,000 after purchasing an additional 820 shares during the last quarter. Collier Financial purchased a new position in Independent Bank Group during the 4th quarter worth approximately $75,000. KBC Group NV lifted its stake in Independent Bank Group by 38.5% during the 4th quarter. KBC Group NV now owns 1,984 shares of the bank’s stock valued at $120,000 after acquiring an additional 552 shares during the period. CIBC Asset Management Inc purchased a new stake in shares of Independent Bank Group in the 3rd quarter valued at $204,000. Finally, AQR Capital Management LLC acquired a new stake in shares of Independent Bank Group in the second quarter worth $212,000. Hedge funds and other institutional investors 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.