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

StockNews.com assumed coverage on shares of Independent Bank Group (NASDAQ:IBTX - Free Report) in a report published on Friday. The brokerage issued a sell rating on the bank's stock.

Several other equities analysts have also weighed in on the company. Truist Financial reduced their price objective on 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. Keefe, Bruyette & Woods lifted their price objective on Independent Bank Group from $69.00 to $72.00 and gave the company an "outperform" rating in a research note on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Independent Bank Group currently has a consensus rating of "Hold" and an average target price of $58.83.

Independent Bank Group Trading Up 1.3 %

NASDAQ:IBTX traded up $0.82 during mid-day trading on Friday, reaching $65.49. The company's stock had a trading volume of 250,435 shares, compared to its average volume of 237,942. The company's fifty day simple moving average is $59.71 and its two-hundred day simple moving average is $53.10. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.97 and a quick ratio of 0.97. Independent Bank Group has a twelve month low of $36.16 and a twelve month high of $67.92. The stock has a market cap of $2.71 billion, a P/E ratio of -6.26 and a beta of 1.38.

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). Independent Bank Group had a positive return on equity of 4.49% and a negative net margin of 43.45%. The business had revenue of $255.18 million during the quarter, compared to analyst estimates of $124.48 million. During the same period in the previous year, the business posted $0.79 earnings per share. On average, equities analysts predict that Independent Bank Group will post 2.7 EPS 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 issued a dividend of $0.38 per share. The ex-dividend date of this dividend was Thursday, October 31st. This represents a $1.52 annualized dividend and a yield of 2.32%. Independent Bank Group's dividend payout ratio is presently -14.53%.

Institutional Investors Weigh In On Independent Bank Group

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Versor Investments LP increased its holdings in Independent Bank Group by 0.7% during the 3rd quarter. Versor Investments LP now owns 28,658 shares of the bank's stock worth $1,652,000 after purchasing an additional 186 shares during the last quarter. Howard Financial Services LTD. increased its holdings in Independent Bank Group by 0.8% during the 2nd quarter. Howard Financial Services LTD. now owns 27,932 shares of the bank's stock worth $1,271,000 after purchasing an additional 234 shares during the last quarter. Louisiana State Employees Retirement System increased its holdings in shares of Independent Bank Group by 1.7% in the 2nd quarter. Louisiana State Employees Retirement System now owns 18,100 shares of the bank's stock valued at $824,000 after acquiring an additional 300 shares during the last quarter. ProShare Advisors LLC increased its holdings in shares of Independent Bank Group by 7.4% in the 1st quarter. ProShare Advisors LLC now owns 7,290 shares of the bank's stock valued at $333,000 after acquiring an additional 502 shares during the last quarter. Finally, Sei Investments Co. increased its holdings in shares of Independent Bank Group by 0.8% in the 2nd quarter. Sei Investments Co. now owns 63,573 shares of the bank's stock valued at $2,894,000 after acquiring an additional 531 shares during the last quarter. 77.90% of the stock is currently owned by hedge funds and other institutional investors.

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.