Independent Bank Group, Inc. (NASDAQ:IBTX) Given Consensus Rating of "Moderate Buy" by Brokerages

Shares of Independent Bank Group, Inc. (NASDAQ:IBTX - Get Free Report) have earned a consensus recommendation of "Moderate Buy" from the six ratings firms that are currently covering the company, MarketBeat reports. Two investment analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $58.17.

A number of brokerages have weighed in on IBTX. Truist Financial lifted their price target on shares of Independent Bank Group from $48.00 to $65.00 and gave the company a "hold" rating in a report on Monday, July 29th. Piper Sandler upgraded shares of Independent Bank Group from an "underweight" rating to an "overweight" rating and lifted their price target for the company from $38.00 to $58.00 in a report on Friday, May 31st. StockNews.com began coverage on shares of Independent Bank Group in a report on Tuesday. They issued a "sell" rating on the stock. Finally, Keefe, Bruyette & Woods lifted their price target on shares of Independent Bank Group from $57.00 to $66.00 and gave the company an "outperform" rating in a report on Monday, July 29th.

Hedge Funds Weigh In On Independent Bank Group

A number of hedge funds have recently made changes to their positions in the business. Headlands Technologies LLC purchased a new stake in Independent Bank Group during the 1st quarter worth $30,000. Fidelis Capital Partners LLC purchased a new stake in Independent Bank Group during the 1st quarter worth $33,000. NBC Securities Inc. increased its stake in Independent Bank Group by 19.7% during the 1st quarter. NBC Securities Inc. now owns 1,674 shares of the bank's stock worth $76,000 after buying an additional 275 shares during the period. SG Americas Securities LLC purchased a new stake in Independent Bank Group during the 1st quarter worth $203,000. Finally, AQR Capital Management LLC purchased a new stake in Independent Bank Group during the 2nd quarter worth $212,000. Hedge funds and other institutional investors own 77.90% of the company's stock.

Independent Bank Group Trading Down 2.3 %

NASDAQ IBTX traded down $1.30 during mid-day trading on Friday, reaching $55.86. 130,163 shares of the stock were exchanged, compared to its average volume of 251,309. Independent Bank Group has a 1-year low of $34.50 and a 1-year high of $60.53. The business's fifty day simple moving average is $53.62 and its 200 day simple moving average is $46.80. The stock has a market capitalization of $2.31 billion, a PE ratio of 22.08 and a beta of 1.38. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.96 and a current ratio of 0.96.

Independent Bank Group (NASDAQ:IBTX - Get Free Report) last announced its earnings results on Wednesday, July 24th. The bank reported $0.60 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.58 by $0.02. Independent Bank Group had a negative net margin of 43.02% and a positive return on equity of 4.83%. The firm had revenue of $252.52 million for the quarter, compared to analyst estimates of $120.25 million. During the same quarter last year, the business earned $0.82 earnings per share. On average, research analysts anticipate that Independent Bank Group will post 2.86 earnings per share for the current fiscal year.

Independent Bank Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 19th. Stockholders of record on Monday, August 5th were paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.72%. The ex-dividend date of this dividend was Monday, August 5th. Independent Bank Group's dividend payout ratio is presently 60.08%.

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.