Brokerages Set Independent Bank Group, Inc. (NASDAQ:IBTX) PT at $60.33

Shares of Independent Bank Group, Inc. (NASDAQ:IBTXGet Free Report) have been given an average rating of “Moderate Buy” by the six ratings firms that are covering the company, MarketBeat reports. Two analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $60.33.

A number of analysts have recently weighed in on IBTX shares. StockNews.com initiated coverage on shares of Independent Bank Group in a research report on Monday, December 16th. They set a “sell” rating for the company. Keefe, Bruyette & Woods boosted their target price on shares of Independent Bank Group from $72.00 to $81.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. Finally, Truist Financial decreased their price target on Independent Bank Group from $66.00 to $63.00 and set a “hold” rating for the company in a research note on Wednesday, October 23rd.

Check Out Our Latest Analysis on Independent Bank Group

Independent Bank Group Price Performance

IBTX opened at $60.28 on Monday. Independent Bank Group has a twelve month low of $36.47 and a twelve month high of $68.66. The firm has a market cap of $2.50 billion, a price-to-earnings ratio of -5.76 and a beta of 1.39. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.26. The company has a fifty day simple moving average of $63.04 and a 200 day simple moving average of $56.10.

Independent Bank Group (NASDAQ:IBTXGet Free Report) last announced its earnings results on Monday, October 21st. The bank reported $0.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.21). Independent Bank Group had a positive return on equity of 4.49% and a negative net margin of 43.45%. The business had revenue of $255.18 million for the quarter, compared to analysts’ expectations of $124.48 million. During the same period in the previous year, the firm posted $0.79 earnings per share. Equities research analysts expect that Independent Bank Group will post 2.7 EPS for the current fiscal year.

Independent Bank Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Thursday, October 31st were issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 2.52%. The ex-dividend date of this dividend was Thursday, October 31st. Independent Bank Group’s dividend payout ratio (DPR) is presently -14.53%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC boosted its holdings in shares of Independent Bank Group by 1.8% during the third quarter. Geode Capital Management LLC now owns 879,076 shares of the bank’s stock valued at $50,697,000 after acquiring an additional 15,447 shares during the period. Barclays PLC boosted its stake in Independent Bank Group by 71.9% during the 3rd quarter. Barclays PLC now owns 79,414 shares of the bank’s stock valued at $4,578,000 after purchasing an additional 33,213 shares during the period. XTX Topco Ltd bought a new position in Independent Bank Group in the 3rd quarter worth about $314,000. Jane Street Group LLC increased its stake in shares of Independent Bank Group by 76.3% in the third quarter. Jane Street Group LLC now owns 61,046 shares of the bank’s stock valued at $3,520,000 after purchasing an additional 26,414 shares during the period. Finally, Edgestream Partners L.P. bought a new stake in shares of Independent Bank Group during the third quarter valued at approximately $3,521,000. 77.90% of the stock is currently owned by institutional investors.

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.

Further Reading

Analyst Recommendations for Independent Bank Group (NASDAQ:IBTX)

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