Independent Bank Group, Inc. (NASDAQ:IBTX) Short Interest Update

Independent Bank Group, Inc. (NASDAQ:IBTX - Get Free Report) was the recipient of a large increase in short interest in the month of August. As of August 31st, there was short interest totalling 1,940,000 shares, an increase of 8.4% from the August 15th total of 1,790,000 shares. Based on an average daily trading volume, of 220,300 shares, the short-interest ratio is presently 8.8 days. Approximately 5.4% of the company's shares are sold short.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on IBTX. Truist Financial lifted their target price on Independent Bank Group from $48.00 to $65.00 and gave the company a "hold" rating in a research note on Monday, July 29th. StockNews.com began coverage on Independent Bank Group in a research note on Wednesday, September 11th. They set a "sell" rating on the stock. Piper Sandler raised Independent Bank Group from an "underweight" rating to an "overweight" rating and lifted their target price for the company from $38.00 to $58.00 in a research note on Friday, May 31st. Finally, Keefe, Bruyette & Woods lifted their target price 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. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $58.17.

Institutional Investors Weigh In On Independent Bank Group

A number of large investors have recently added to or reduced their stakes in IBTX. Headlands Technologies LLC bought a new stake in Independent Bank Group during the first quarter worth approximately $30,000. Fidelis Capital Partners LLC acquired a new position in shares of Independent Bank Group during the first quarter worth approximately $33,000. NBC Securities Inc. lifted its holdings in shares of Independent Bank Group by 19.7% during the first 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 last quarter. SG Americas Securities LLC acquired a new position in shares of Independent Bank Group during the first quarter worth approximately $203,000. Finally, AQR Capital Management LLC acquired a new position in shares of Independent Bank Group during the second quarter worth approximately $212,000. Institutional investors own 77.90% of the company's stock.

Independent Bank Group Stock Up 0.8 %

Shares of NASDAQ IBTX traded up $0.48 during trading hours on Tuesday, hitting $59.20. The stock had a trading volume of 130,095 shares, compared to its average volume of 246,562. The company has a market capitalization of $2.45 billion, a P/E ratio of 23.39 and a beta of 1.38. The firm's 50-day moving average price is $54.92 and its two-hundred day moving average price is $47.34. Independent Bank Group has a 52 week low of $34.50 and a 52 week high of $60.53. 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 quarterly earnings results on Wednesday, July 24th. The bank reported $0.60 EPS for the quarter, beating the consensus estimate of $0.58 by $0.02. The business had revenue of $252.52 million during the quarter, compared to analysts' expectations of $120.25 million. Independent Bank Group had a positive return on equity of 4.83% and a negative net margin of 43.02%. During the same quarter in the previous year, the business posted $0.82 EPS. Analysts anticipate that Independent Bank Group will post 2.86 EPS for the current fiscal year.

Independent Bank Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, August 19th. Shareholders of record on Monday, August 5th were given a dividend of $0.38 per share. The ex-dividend date was Monday, August 5th. This represents a $1.52 dividend on an annualized basis and a yield of 2.57%. Independent Bank Group's payout ratio is currently 60.08%.

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.