Independent Bank Group (NASDAQ:IBTX) Stock Rating Reaffirmed by Stephens

Independent Bank Group (NASDAQ:IBTX)‘s stock had its “overweight” rating reaffirmed by stock analysts at Stephens in a research note issued on Tuesday, Benzinga reports. They presently have a $55.00 price target on the bank’s stock. Stephens’ price objective points to a potential upside of 37.16% from the company’s previous close.

A number of other brokerages have also recently issued reports on IBTX. Truist Financial lowered their price target on shares of Independent Bank Group from $58.00 to $52.00 and set a “buy” rating for the company in a research report on Monday, April 1st. Keefe, Bruyette & Woods lifted their target price on shares of Independent Bank Group from $53.00 to $55.00 and gave the stock an “outperform” rating in a report on Wednesday, January 24th. StockNews.com raised shares of Independent Bank Group to a “sell” rating in a report on Thursday, January 25th. Finally, Raymond James lifted their target price on shares of Independent Bank Group from $56.00 to $59.00 and gave the stock an “outperform” rating in a report on Wednesday, January 24th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, Independent Bank Group presently has a consensus rating of “Moderate Buy” and an average target price of $53.00.

Independent Bank Group Price Performance

Shares of NASDAQ:IBTX traded down $1.77 during trading on Tuesday, reaching $40.10. The company had a trading volume of 100,042 shares, compared to its average volume of 223,248. The company has a fifty day moving average of $43.49 and a two-hundred day moving average of $43.63. The stock has a market capitalization of $1.66 billion, a P/E ratio of 38.62 and a beta of 1.33. Independent Bank Group has a 12 month low of $28.81 and a 12 month high of $53.25. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.28.

Independent Bank Group (NASDAQ:IBTX) last announced its quarterly earnings results on Monday, April 22nd. The bank reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.06. The business had revenue of $119.10 million for the quarter, compared to analyst estimates of $121.39 million. Independent Bank Group had a net margin of 4.68% and a return on equity of 5.76%. The company’s revenue was down 15.3% on a year-over-year basis. During the same quarter last year, the firm earned $1.07 EPS. Equities research analysts forecast that Independent Bank Group will post 2.88 earnings per share for the current year.

Institutional Trading of Independent Bank Group

Several large investors have recently added to or reduced their stakes in IBTX. GAMMA Investing LLC purchased a new position in Independent Bank Group during the fourth quarter valued at approximately $47,000. NBC Securities Inc. purchased a new position in Independent Bank Group during the third quarter valued at approximately $55,000. Signaturefd LLC lifted its holdings in Independent Bank Group by 49.8% during the third quarter. Signaturefd LLC now owns 1,513 shares of the bank’s stock valued at $60,000 after purchasing an additional 503 shares in the last quarter. PNC Financial Services Group Inc. lifted its holdings in shares of Independent Bank Group by 51.3% in the third quarter. PNC Financial Services Group Inc. now owns 2,727 shares of the bank’s stock worth $108,000 after buying an additional 925 shares in the last quarter. Finally, Callahan Advisors LLC purchased a new position in Independent Bank Group during the third quarter valued at $201,000. 77.90% of the stock is currently owned by institutional investors.

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.