Independent Bank Group, Inc. (NASDAQ:IBTX) Receives $58.83 Consensus Target Price from Analysts

Independent Bank Group, Inc. (NASDAQ:IBTX - Get Free Report) has earned an average recommendation of "Moderate Buy" from the six brokerages that are currently covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $58.83.

IBTX has been the subject of a number of research reports. StockNews.com assumed coverage on Independent Bank Group in a research report on Thursday, November 14th. They issued a "sell" rating for the company. Truist Financial decreased their price target on shares of Independent Bank Group from $66.00 to $63.00 and set a "hold" rating on the stock in a research note on Wednesday, October 23rd. Finally, Keefe, Bruyette & Woods raised their price objective on shares of Independent Bank Group from $69.00 to $72.00 and gave the stock an "outperform" rating in a report on Thursday, November 7th.

Institutional Trading of Independent Bank Group

Several large investors have recently made changes to their positions in IBTX. Blue Trust Inc. lifted its position in Independent Bank Group by 1,576.9% during the 3rd quarter. Blue Trust Inc. now owns 872 shares of the bank's stock worth $50,000 after buying an additional 820 shares in the last quarter. CIBC Asset Management Inc acquired a new position in shares of Independent Bank Group during the third quarter valued at $204,000. Hancock Whitney Corp bought a new position in Independent Bank Group in the third quarter valued at about $222,000. SG Americas Securities LLC acquired a new stake in Independent Bank Group in the first quarter worth about $203,000. Finally, AQR Capital Management LLC acquired a new position in Independent Bank Group during the 2nd quarter valued at about $212,000. Institutional investors own 77.90% of the company's stock.

Independent Bank Group Stock Performance

IBTX opened at $63.06 on Thursday. Independent Bank Group has a 12-month low of $36.16 and a 12-month high of $67.92. The stock's 50 day moving average price is $59.52 and its two-hundred day moving average price is $53.02. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.26.

Independent Bank Group (NASDAQ:IBTX - Get Free Report) last released its earnings results on Monday, October 21st. The bank reported $0.50 EPS for the quarter, missing the consensus estimate of $0.71 by ($0.21). The company had revenue of $255.18 million for the quarter, compared to analyst estimates 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 company earned $0.79 earnings per share. Sell-side analysts predict that Independent Bank Group will post 2.7 earnings per share for the current year.

Independent Bank Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st were given a $0.38 dividend. The ex-dividend date was Thursday, October 31st. This represents a $1.52 annualized dividend and a yield of 2.41%. Independent Bank Group's payout ratio is -14.53%.

Independent Bank Group Company Profile

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.