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

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

A number of other equities research analysts also recently issued reports on the stock. Truist Financial cut their target price on shares of Independent Bank Group from $66.00 to $63.00 and set a "hold" rating for the company in a research report on Wednesday, October 23rd. Keefe, Bruyette & Woods increased their price target on shares of Independent Bank Group from $69.00 to $72.00 and gave the stock an "outperform" rating in a research note on Thursday, November 7th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $58.83.

Independent Bank Group Price Performance

IBTX stock traded down $0.48 during trading on Thursday, hitting $63.83. The company had a trading volume of 335,477 shares, compared to its average volume of 239,082. The firm has a market capitalization of $2.65 billion, a price-to-earnings ratio of -6.10 and a beta of 1.38. The business has a 50 day moving average of $58.90 and a 200 day moving average of $52.23. Independent Bank Group has a fifty-two week low of $36.16 and a fifty-two week high of $67.92. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.26.

Independent Bank Group (NASDAQ:IBTX - Get Free Report) last posted its quarterly earnings data on Monday, October 21st. The bank reported $0.50 earnings per share for the quarter, missing the consensus estimate 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 company 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 company earned $0.79 EPS. As a group, research analysts predict that Independent Bank Group will post 2.51 earnings per share for the current year.

Hedge Funds Weigh In On Independent Bank Group

Hedge funds and other institutional investors have recently made changes to their positions in the business. Headlands Technologies LLC bought a new position in shares of Independent Bank Group during the 1st quarter worth about $30,000. Blue Trust Inc. increased its position in 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 acquiring an additional 820 shares in the last quarter. CIBC Asset Management Inc acquired a new stake in Independent Bank Group in the 3rd quarter valued at about $204,000. Hancock Whitney Corp acquired a new stake in Independent Bank Group in the 3rd quarter valued at about $222,000. Finally, SG Americas Securities LLC acquired a new stake in Independent Bank Group in the 1st quarter valued at about $203,000. 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.