Independent Bank Group, Inc. (NASDAQ:IBTX) Given Consensus Rating of "Moderate Buy" by Analysts

Shares of Independent Bank Group, Inc. (NASDAQ:IBTX - Get Free Report) have been given an average recommendation of "Moderate Buy" by the six research firms that are presently covering the stock, Marketbeat reports. Two research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $58.83.

Several equities analysts have issued reports on IBTX shares. StockNews.com initiated coverage on shares of Independent Bank Group in a report on Thursday, November 14th. They set a "sell" rating on the stock. Keefe, Bruyette & Woods lifted their price objective on Independent Bank Group from $69.00 to $72.00 and gave the stock an "outperform" rating in a report on Thursday, November 7th. Finally, Truist Financial cut their price objective 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.

Hedge Funds Weigh In On Independent Bank Group

A number of institutional investors have recently bought and sold shares of IBTX. FMR LLC lifted its position 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 during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Independent Bank Group by 1.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,316,743 shares of the bank's stock worth $105,456,000 after purchasing an additional 39,091 shares during the period. Geode Capital Management LLC increased its holdings in Independent Bank Group by 1.8% in the 3rd quarter. Geode Capital Management LLC now owns 879,076 shares of the bank's stock valued at $50,697,000 after purchasing an additional 15,447 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in Independent Bank Group by 1.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 485,269 shares of the bank's stock valued at $27,981,000 after purchasing an additional 7,287 shares during the period. Finally, Magnetar Financial LLC acquired a new position in Independent Bank Group during the second quarter worth $14,146,000. 77.90% of the stock is owned by hedge funds and other institutional investors.

Independent Bank Group Stock Performance

IBTX traded up $1.61 on Thursday, reaching $64.67. 237,549 shares of the stock were exchanged, compared to its average volume of 237,887. Independent Bank Group has a fifty-two week low of $36.16 and a fifty-two week high of $67.92. The firm has a market capitalization of $2.68 billion, a PE ratio of -6.18 and a beta of 1.38. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.97 and a quick ratio of 0.97. The company's 50-day moving average price is $59.71 and its 200 day moving average price is $53.10.

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

Independent Bank Group Announces Dividend

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 2.35%. The ex-dividend date was Thursday, October 31st. Independent Bank Group's dividend payout ratio (DPR) is presently -14.53%.

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.