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

StockNews.com assumed coverage on shares of Independent Bank Group (NASDAQ:IBTXGet Free Report) in a report issued on Tuesday. The brokerage set a “sell” rating on the bank’s stock.

A number of other brokerages also recently weighed in on IBTX. Truist Financial lowered their target price on shares of Independent Bank Group from $50.00 to $48.00 and set a “hold” rating for the company in a research note on Monday. Piper Sandler raised Independent Bank Group from an “underweight” rating to an “overweight” rating and lifted their price objective for the stock from $38.00 to $58.00 in a research report on Friday, May 31st. Keefe, Bruyette & Woods cut their target price on Independent Bank Group from $55.00 to $46.00 and set an “outperform” rating on the stock in a research report on Friday, April 26th. Stephens reissued an “overweight” rating and issued a $55.00 price target on shares of Independent Bank Group in a research note on Tuesday, April 23rd. Finally, Hovde Group dropped 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 note on Wednesday, April 24th. One investment 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’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $52.00.

Get Our Latest Stock Report on Independent Bank Group

Independent Bank Group Trading Up 0.6 %

NASDAQ IBTX opened at $44.96 on Tuesday. The firm has a market capitalization of $1.86 billion, a PE ratio of 17.77 and a beta of 1.41. The business’s 50-day moving average price is $43.68 and its two-hundred day moving average price is $45.06. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.23. Independent Bank Group has a 12 month low of $34.50 and a 12 month high of $53.25.

Independent Bank Group (NASDAQ:IBTXGet Free Report) last announced its earnings results on Tuesday, April 23rd. The bank reported $0.63 EPS for the quarter, beating the consensus estimate of $0.57 by $0.06. Independent Bank Group had a return on equity of 4.97% and a net margin of 10.96%. The business had revenue of $119.10 million for the quarter, compared to analysts’ expectations of $121.39 million. During the same period in the prior year, the business posted $1.07 earnings per share. The firm’s revenue was down 15.3% on a year-over-year basis. On average, analysts expect that Independent Bank Group will post 2.56 EPS for the current year.

Institutional Investors Weigh In On Independent Bank Group

Hedge funds and other institutional investors have recently modified their holdings of the company. Hsbc Holdings PLC raised its holdings in Independent Bank Group by 10.1% during the fourth 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 last quarter. Dimensional Fund Advisors LP lifted its position in 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 valued at $107,588,000 after acquiring an additional 40,112 shares in the last quarter. BNP Paribas Financial Markets lifted its position in Independent Bank Group by 33.0% in the 4th quarter. BNP Paribas Financial Markets now owns 24,972 shares of the bank’s stock valued at $1,271,000 after acquiring an additional 6,203 shares in the last quarter. First Dallas Securities Inc. bought a new stake in Independent Bank Group during the 1st quarter worth approximately $1,061,000. Finally, Vanguard Group Inc. increased its holdings in Independent Bank Group by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 4,180,301 shares of the bank’s stock worth $212,694,000 after purchasing an additional 22,245 shares in the last quarter. Institutional investors own 77.90% of the company’s stock.

Independent Bank Group Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Independent Bank Group (NASDAQ:IBTX)

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