StockNews.com Initiates Coverage on Independent Bank Group (NASDAQ:IBTX)

Analysts at StockNews.com began coverage on shares of Independent Bank Group (NASDAQ:IBTX) in a report issued on Sunday. The brokerage set a “sell” rating on the bank’s stock.

A number of other equities analysts have also recently issued reports on IBTX. Truist Financial lowered their target price on Independent Bank Group from $66.00 to $63.00 and set a “hold” rating for the company in a report on Wednesday, October 23rd. Keefe, Bruyette & Woods lifted their target price on Independent Bank Group from $72.00 to $81.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Independent Bank Group currently has an average rating of “Hold” and a consensus price target of $60.60.

Independent Bank Group Stock Performance

Shares of IBTX opened at $60.67 on Friday. The firm has a market cap of $2.51 billion, a P/E ratio of -5.80 and a beta of 1.39. Independent Bank Group has a twelve month low of $36.47 and a twelve month high of $68.66. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.97 and a current ratio of 0.97. The firm’s 50 day moving average price is $62.53 and its two-hundred day moving average price is $59.63.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Versor Investments LP raised its holdings in Independent Bank Group by 0.7% in the 3rd quarter. Versor Investments LP now owns 28,658 shares of the bank’s stock valued at $1,652,000 after buying an additional 186 shares during the last quarter. KBC Group NV raised its stake in shares of Independent Bank Group by 38.5% during the fourth quarter. KBC Group NV now owns 1,984 shares of the bank’s stock valued at $120,000 after acquiring an additional 552 shares during the last quarter. Blue Trust Inc. lifted its holdings in shares of Independent Bank Group by 1,576.9% during the third quarter. Blue Trust Inc. now owns 872 shares of the bank’s stock worth $50,000 after purchasing an additional 820 shares during the period. Collier Financial bought a new stake in shares of Independent Bank Group in the fourth quarter worth $75,000. Finally, Pathstone Holdings LLC increased its holdings in Independent Bank Group by 6.6% in the third quarter. Pathstone Holdings LLC now owns 27,102 shares of the bank’s stock valued at $1,563,000 after purchasing an additional 1,688 shares during the period. 77.90% of the stock is owned by institutional investors and hedge funds.

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.