Independent Bank Group (NASDAQ:IBTX) Earns Sell Rating from Analysts at StockNews.com

StockNews.com assumed coverage on shares of Independent Bank Group (NASDAQ:IBTX - Free Report) in a research note issued to investors on Sunday. The brokerage issued a sell rating on the bank's stock.

A number of other research analysts also recently commented on IBTX. Truist Financial dropped their price objective on Independent Bank Group from $66.00 to $63.00 and set a "hold" rating on the stock in a report on Wednesday, October 23rd. Keefe, Bruyette & Woods lifted their price target on shares of Independent Bank Group from $72.00 to $81.00 and gave the stock an "outperform" rating in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $60.33.

Independent Bank Group Stock Up 0.5 %

IBTX stock traded up $0.34 during midday trading on Friday, hitting $67.19. The company's stock had a trading volume of 108,374 shares, compared to its average volume of 219,847. Independent Bank Group has a 52-week low of $36.47 and a 52-week high of $68.66. The firm has a 50-day simple moving average of $61.62 and a 200-day simple moving average of $55.06. 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 $2.78 billion, a P/E ratio of -6.42 and a beta of 1.39.

Independent Bank Group (NASDAQ:IBTX - Get Free Report) last announced its quarterly earnings data on Monday, October 21st. The bank reported $0.50 earnings per share for the quarter, missing analysts' consensus estimates of $0.71 by ($0.21). The firm had revenue of $255.18 million during 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 business posted $0.79 earnings per share. As a group, equities analysts forecast that Independent Bank Group will post 2.7 EPS for the current year.

Independent Bank Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st were paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 2.26%. The ex-dividend date was Thursday, October 31st. Independent Bank Group's dividend payout ratio is presently -14.53%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of IBTX. Versor Investments LP raised its holdings in Independent Bank Group by 0.7% during the third quarter. Versor Investments LP now owns 28,658 shares of the bank's stock worth $1,652,000 after purchasing an additional 186 shares in the last quarter. Louisiana State Employees Retirement System raised its stake in shares of Independent Bank Group by 1.7% during the 2nd quarter. Louisiana State Employees Retirement System now owns 18,100 shares of the bank's stock worth $824,000 after buying an additional 300 shares in the last quarter. Sei Investments Co. raised its stake in shares of Independent Bank Group by 0.8% during the 2nd quarter. Sei Investments Co. now owns 63,573 shares of the bank's stock worth $2,894,000 after buying an additional 531 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in shares of Independent Bank Group by 5.5% in the 2nd quarter. Victory Capital Management Inc. now owns 15,658 shares of the bank's stock valued at $713,000 after buying an additional 810 shares during the period. Finally, Blue Trust Inc. boosted its stake in shares of Independent Bank Group by 1,576.9% in the third quarter. Blue Trust Inc. now owns 872 shares of the bank's stock valued at $50,000 after buying an additional 820 shares in the last quarter. 77.90% of the stock is currently owned by hedge funds and other institutional investors.

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.