Independent Bank Group (NASDAQ:IBTX) Receives New Coverage from Analysts at StockNews.com

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

A number of other research firms also recently commented on IBTX. Truist Financial raised their target price on shares of Independent Bank Group from $48.00 to $65.00 and gave the company a "hold" rating in a research report on Monday, July 29th. Keefe, Bruyette & Woods raised their target price on shares of Independent Bank Group from $57.00 to $66.00 and gave the company an "outperform" rating in a research report on Monday, July 29th. Finally, Piper Sandler raised shares of Independent Bank Group from an "underweight" rating to an "overweight" rating and raised their target price for the company from $38.00 to $58.00 in a research report on Friday, May 31st. One analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, Independent Bank Group presently has a consensus rating of "Hold" and an average target price of $58.17.

Independent Bank Group Trading Down 0.5 %

IBTX traded down $0.29 on Monday, reaching $57.53. 136,197 shares of the company traded hands, compared to its average volume of 256,133. Independent Bank Group has a one year low of $34.50 and a one year high of $60.53. The firm has a fifty day simple moving average of $50.87 and a two-hundred day simple moving average of $45.97. The company has a market cap of $2.38 billion, a P/E ratio of 22.94 and a beta of 1.41. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.25.

Independent Bank Group (NASDAQ:IBTX - Get Free Report) last posted its earnings results on Wednesday, July 24th. The bank reported $0.60 EPS for the quarter, beating analysts' consensus estimates of $0.58 by $0.02. The business had revenue of $252.52 million for the quarter, compared to the consensus estimate of $120.25 million. Independent Bank Group had a negative net margin of 43.02% and a positive return on equity of 4.83%. During the same quarter last year, the firm posted $0.82 EPS. As a group, equities research analysts expect that Independent Bank Group will post 2.69 earnings per share for the current year.

Institutional Trading of Independent Bank Group

Large investors have recently bought and sold shares of the stock. Headlands Technologies LLC purchased a new stake in shares of Independent Bank Group during the first quarter worth $30,000. Fidelis Capital Partners LLC acquired a new stake in Independent Bank Group in the first quarter valued at approximately $33,000. GAMMA Investing LLC purchased a new position in Independent Bank Group in the fourth quarter valued at approximately $47,000. NBC Securities Inc. increased its stake in Independent Bank Group by 19.7% in the first quarter. NBC Securities Inc. now owns 1,674 shares of the bank's stock valued at $76,000 after purchasing an additional 275 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new position in shares of Independent Bank Group during the first quarter worth approximately $203,000. Hedge funds and other institutional investors own 77.90% of the company's stock.

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.