Independent Bank Group, Inc. (NASDAQ:IBTX) Receives $57.83 Consensus Target Price from Brokerages

Independent Bank Group, Inc. (NASDAQ:IBTX - Get Free Report) has earned a consensus rating of "Moderate Buy" from the six ratings firms that are presently covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $57.83.

A number of equities analysts recently weighed in on IBTX shares. StockNews.com assumed coverage on shares of Independent Bank Group in a report on Monday, October 21st. They issued a "sell" rating for the company. Keefe, Bruyette & Woods boosted their price target on Independent Bank Group from $57.00 to $66.00 and gave the stock an "outperform" rating in a research note on Monday, July 29th. Finally, 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 research report on Wednesday.

Institutional Trading of Independent Bank Group

A number of hedge funds have recently bought and sold shares of IBTX. Magnetar Financial LLC bought a new position in Independent Bank Group in the second quarter worth approximately $14,146,000. Silver Lake Advisory LLC purchased a new position in Independent Bank Group during the second quarter valued at $5,491,000. Dimensional Fund Advisors LP grew its holdings in Independent Bank Group by 1.7% during the second quarter. Dimensional Fund Advisors LP now owns 2,316,743 shares of the bank's stock valued at $105,456,000 after purchasing an additional 39,091 shares during the period. Edgestream Partners L.P. increased its position in Independent Bank Group by 72.0% in the first quarter. Edgestream Partners L.P. now owns 68,249 shares of the bank's stock worth $3,116,000 after buying an additional 28,579 shares in the last quarter. Finally, Versor Investments LP bought a new position in shares of Independent Bank Group in the second quarter worth about $1,296,000. Hedge funds and other institutional investors own 77.90% of the company's stock.

Independent Bank Group Stock Down 2.8 %

Shares of IBTX traded down $1.67 during trading hours on Friday, hitting $57.26. The company had a trading volume of 93,750 shares, compared to its average volume of 139,747. The stock has a market capitalization of $2.37 billion, a price-to-earnings ratio of -5.47 and a beta of 1.38. The firm has a fifty day moving average price of $57.55 and a 200-day moving average price of $50.29. Independent Bank Group has a 52-week low of $34.50 and a 52-week high of $62.25. 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 issued its 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 positive return on equity of 4.34% and a negative net margin of 43.45%. The firm had revenue of $255.18 million during the quarter, compared to analysts' expectations of $124.48 million. During the same period last year, the firm posted $0.79 earnings per share. On average, equities research analysts forecast that Independent Bank Group will post 2.86 EPS for the current fiscal year.

Independent Bank Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Thursday, October 31st will be paid a $0.38 dividend. The ex-dividend date is Thursday, October 31st. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.65%. Independent Bank Group's dividend payout ratio (DPR) is currently -14.53%.

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.