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

Stock analysts at StockNews.com began coverage on shares of Independent Bank Group (NASDAQ:IBTX - Get Free Report) in a report issued on Monday. The firm set a "sell" rating on the bank's stock.

Several other research analysts have also recently weighed in on the stock. Keefe, Bruyette & Woods boosted their price target on shares of Independent Bank Group from $72.00 to $81.00 and gave the stock an "outperform" rating in a report on Wednesday, December 4th. Truist Financial lowered their price objective on shares of Independent Bank Group from $66.00 to $63.00 and set a "hold" rating on the stock in a research report on Wednesday, October 23rd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, Independent Bank Group currently has a consensus rating of "Hold" and an average target price of $60.33.

Independent Bank Group Price Performance

IBTX traded down $0.42 during trading on Monday, hitting $65.30. 548,074 shares of the stock traded hands, compared to its average volume of 241,421. The business has a 50 day moving average price of $62.62 and a 200 day moving average price of $55.79. The company has a market cap of $2.71 billion, a price-to-earnings ratio of -6.28 and a beta of 1.39. Independent Bank Group has a twelve month low of $36.47 and a twelve month high of $68.66. 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 (NASDAQ:IBTX - Get Free Report) last released its quarterly 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 for the quarter, compared to the consensus estimate of $124.48 million. During the same period in the previous year, the business posted $0.79 EPS. Equities research analysts forecast that Independent Bank Group will post 2.7 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Independent Bank Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Blue Trust Inc. raised its holdings in shares of Independent Bank Group by 1,576.9% in the 3rd quarter. Blue Trust Inc. now owns 872 shares of the bank's stock valued at $50,000 after purchasing an additional 820 shares in the last quarter. CIBC Asset Management Inc acquired a new stake in shares of Independent Bank Group during the third quarter worth about $204,000. AQR Capital Management LLC purchased a new position in shares of Independent Bank Group during the 2nd quarter valued at about $212,000. Hancock Whitney Corp purchased a new stake in Independent Bank Group during the third quarter worth $222,000. Finally, Hennessy Advisors Inc. acquired a new position in shares of Independent Bank Group during the 2nd quarter worth approximately $228,000. 77.90% of the stock is owned by 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.