StockNews.com initiated coverage on shares of Independent Bank Group (NASDAQ:IBTX - Free Report) in a research note published on Tuesday morning. The firm issued a sell rating on the bank's stock.
IBTX has been the topic of a number of other research reports. Truist Financial decreased their price objective on shares of Independent Bank Group from $66.00 to $63.00 and set a "hold" rating on the stock in a report on Wednesday, October 23rd. Keefe, Bruyette & Woods increased their price objective on shares of Independent Bank Group from $57.00 to $66.00 and gave the stock an "outperform" rating in a report on Monday, July 29th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, Independent Bank Group presently has a consensus rating of "Hold" and a consensus price target of $57.83.
Get Our Latest Analysis on Independent Bank Group
Independent Bank Group Price Performance
Shares of IBTX traded down $0.50 during trading hours on Tuesday, hitting $58.53. The stock had a trading volume of 87,139 shares, compared to its average volume of 234,743. The company's fifty day moving average is $57.69 and its two-hundred day moving average is $50.54. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.96 and a quick ratio of 0.96. Independent Bank Group has a 52 week low of $34.50 and a 52 week high of $62.25. The stock has a market capitalization of $2.42 billion, a price-to-earnings ratio of 23.13 and a beta of 1.38.
Independent Bank Group (NASDAQ:IBTX - Get Free Report) last posted its earnings results 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 4.34% and a negative net margin of 43.45%. The firm had revenue of $255.18 million during the quarter, compared to the consensus estimate of $124.48 million. During the same period in the previous year, the company posted $0.79 EPS. On average, analysts anticipate that Independent Bank Group will post 2.86 EPS for the current year.
Independent Bank Group Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st will be given a dividend of $0.38 per share. The ex-dividend date is Thursday, October 31st. This represents a $1.52 dividend on an annualized basis and a yield of 2.60%. Independent Bank Group's payout ratio is presently 60.08%.
Institutional Inflows and Outflows
Large investors have recently added to or reduced their stakes in the business. Silver Lake Advisory LLC acquired a new position in Independent Bank Group during the 2nd quarter valued at about $5,491,000. Edgestream Partners L.P. lifted its position in Independent Bank Group by 72.0% during the 1st quarter. Edgestream Partners L.P. now owns 68,249 shares of the bank's stock valued at $3,116,000 after purchasing an additional 28,579 shares during the period. Bessemer Group Inc. lifted its position in Independent Bank Group by 6.8% during the 1st quarter. Bessemer Group Inc. now owns 226,860 shares of the bank's stock valued at $10,357,000 after purchasing an additional 14,534 shares during the period. Water Island Capital LLC acquired a new position in Independent Bank Group during the 2nd quarter valued at about $806,000. Finally, Magnetar Financial LLC acquired a new position in Independent Bank Group during the 2nd quarter valued at about $14,146,000. 77.90% of the stock is currently owned by institutional investors and hedge funds.
About Independent Bank Group
(
Get Free Report)
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.
Featured Articles
Before you consider Independent Bank Group, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Independent Bank Group wasn't on the list.
While Independent Bank Group currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Click the link below and we'll send you MarketBeat's list of seven stocks and why their long-term outlooks are very promising.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.