Independent Bank Group (NASDAQ:IBTX) Coverage Initiated at StockNews.com

Equities research analysts at StockNews.com started coverage on shares of Independent Bank Group (NASDAQ:IBTX) in a research report issued on Wednesday. The firm set a “sell” rating on the bank’s stock.

Other analysts have also recently issued reports about the company. Keefe, Bruyette & Woods raised their target price on Independent Bank Group from $57.00 to $66.00 and gave the company an “outperform” rating in a research report on Monday, July 29th. Truist Financial cut 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 research note on Wednesday, October 23rd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $58.83.

Independent Bank Group Price Performance

Shares of NASDAQ IBTX opened at $64.26 on Wednesday. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.97 and a quick ratio of 0.97. The firm has a market capitalization of $2.66 billion, a PE ratio of -6.14 and a beta of 1.38. Independent Bank Group has a 1-year low of $35.25 and a 1-year high of $66.41. The business’s fifty day moving average price is $58.17 and its two-hundred day moving average price is $51.37.

Independent Bank Group (NASDAQ:IBTX) last issued its quarterly earnings data 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 negative net margin of 43.45% and a positive return on equity of 4.49%. The firm had revenue of $255.18 million during the quarter, compared to the consensus estimate of $124.48 million. During the same quarter in the prior year, the business earned $0.79 earnings per share. On average, research analysts expect that Independent Bank Group will post 2.51 EPS for the current year.

Hedge Funds Weigh In On Independent Bank Group

Several large investors have recently made changes to their positions in the business. Headlands Technologies LLC acquired a new position in shares of Independent Bank Group in the 1st quarter worth approximately $30,000. Fidelis Capital Partners LLC acquired a new position in shares of Independent Bank Group in the 1st quarter worth approximately $33,000. Blue Trust Inc. grew its stake in shares of Independent Bank Group by 1,576.9% in the 3rd quarter. Blue Trust Inc. now owns 872 shares of the bank’s stock worth $50,000 after purchasing an additional 820 shares during the last quarter. SG Americas Securities LLC acquired a new position in shares of Independent Bank Group in the 1st quarter worth approximately $203,000. Finally, CIBC Asset Management Inc acquired a new position in shares of Independent Bank Group in the 3rd quarter worth approximately $204,000. Institutional investors own 77.90% of the company’s stock.

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.