Independent Bank Group (NASDAQ:IBTX) Earns Sell Rating from Analysts at StockNews.com

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

Several other brokerages have also commented on IBTX. Keefe, Bruyette & Woods upped their price target on Independent Bank Group from $57.00 to $66.00 and gave the company an "outperform" rating in a research note on Monday, July 29th. Truist Financial upped 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. Finally, Piper Sandler upgraded shares of Independent Bank Group from an "underweight" rating to an "overweight" rating and upped their price objective for the stock from $38.00 to $58.00 in a report on Friday, May 31st. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat, Independent Bank Group presently has an average rating of "Hold" and an average price target of $58.17.

Independent Bank Group Price Performance

NASDAQ IBTX traded up $1.52 during mid-day trading on Thursday, hitting $61.00. The stock had a trading volume of 151,226 shares, compared to its average volume of 245,564. The firm's 50 day moving average is $55.45 and its 200 day moving average is $47.54. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.96 and a quick ratio of 0.96. The stock has a market capitalization of $2.52 billion, a price-to-earnings ratio of 24.11 and a beta of 1.38. Independent Bank Group has a twelve month low of $34.50 and a twelve month high of $61.76.

Independent Bank Group (NASDAQ:IBTX - Get Free Report) last announced its quarterly earnings results on Wednesday, July 24th. The bank reported $0.60 earnings per share for the quarter, beating the consensus estimate 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 analysts' expectations of $120.25 million. During the same quarter in the previous year, the company posted $0.82 EPS. Equities research analysts forecast that Independent Bank Group will post 2.86 earnings per share for the current fiscal year.

Institutional Investors Weigh In On 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 1st quarter worth $30,000. Fidelis Capital Partners LLC purchased a new stake in Independent Bank Group during the 1st quarter worth about $33,000. NBC Securities Inc. boosted its position in shares of 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 acquiring an additional 275 shares in the last quarter. Relative Value Partners Group LLC purchased a new position in shares of Independent Bank Group in the 4th quarter valued at about $217,000. Finally, SG Americas Securities LLC purchased a new position in shares of Independent Bank Group in the 1st quarter valued at about $203,000. Hedge funds and other institutional investors own 77.90% of the company's stock.

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.