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

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

Several other equities analysts have also issued reports on the company. Keefe, Bruyette & Woods boosted their target price on Independent Bank Group from $72.00 to $81.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. Truist Financial decreased their price objective on shares of Independent Bank Group from $66.00 to $63.00 and set a “hold” rating for the company in a report on Wednesday, October 23rd. One 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. According to MarketBeat, Independent Bank Group has an average rating of “Hold” and an average price target of $60.33.

Independent Bank Group Trading Down 1.0 %

Shares of IBTX opened at $65.72 on Monday. The stock’s fifty day simple moving average is $62.62 and its 200-day simple moving average is $55.79. 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 firm has a market capitalization of $2.72 billion, a PE ratio of -6.28 and a beta of 1.39. Independent Bank Group has a 12-month low of $36.47 and a 12-month high of $68.66.

Independent Bank Group (NASDAQ:IBTX) last issued its earnings results 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). Independent Bank Group had a negative net margin of 43.45% and a positive return on equity of 4.49%. The business had revenue of $255.18 million during the quarter, compared to the consensus estimate of $124.48 million. During the same period last year, the business posted $0.79 EPS. As a group, research analysts predict that Independent Bank Group will post 2.7 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Silver Lake Advisory LLC acquired a new position in shares of Independent Bank Group during the 2nd quarter worth about $5,491,000. Water Island Capital LLC acquired a new position in Independent Bank Group during the second quarter worth approximately $806,000. Magnetar Financial LLC bought a new stake in Independent Bank Group in the second quarter valued at approximately $14,146,000. Hennessy Advisors Inc. acquired a new stake in shares of Independent Bank Group in the second quarter valued at approximately $228,000. Finally, Renaissance Technologies LLC lifted its position in shares of Independent Bank Group by 45.3% in the second quarter. Renaissance Technologies LLC now owns 52,243 shares of the bank’s stock valued at $2,378,000 after buying an additional 16,300 shares during the last quarter. 77.90% of the stock is owned by institutional investors and hedge funds.

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.