Independent Bank Group (NASDAQ:IBTX) Earns Sell Rating from Analysts at StockNews.com

StockNews.com started coverage on shares of Independent Bank Group (NASDAQ:IBTX) in a report issued on Saturday. The firm issued a sell rating on the bank’s stock.

IBTX has been the topic of several other reports. Keefe, Bruyette & Woods upped their price target on Independent Bank Group from $72.00 to $81.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. Truist Financial lowered their price target on shares of Independent Bank Group from $66.00 to $63.00 and set a “hold” rating for the company in a research report on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $60.60.

Independent Bank Group Stock Performance

Shares of IBTX opened at $60.67 on Friday. Independent Bank Group has a one year low of $36.47 and a one year high of $68.66. The company has a 50-day simple moving average of $62.94 and a two-hundred day simple moving average of $59.37. 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 $2.51 billion, a PE ratio of -5.80 and a beta of 1.39.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. FMR LLC increased its holdings in shares of Independent Bank Group by 8.1% in the 3rd quarter. FMR LLC now owns 3,725,572 shares of the bank’s stock worth $214,816,000 after purchasing an additional 279,112 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Independent Bank Group by 1.8% in the 3rd quarter. Geode Capital Management LLC now owns 879,076 shares of the bank’s stock worth $50,697,000 after purchasing an additional 15,447 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Independent Bank Group by 1.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 485,269 shares of the bank’s stock worth $27,981,000 after buying an additional 7,287 shares during the last quarter. Westchester Capital Management LLC boosted its stake in shares of Independent Bank Group by 15.5% during the 3rd quarter. Westchester Capital Management LLC now owns 304,444 shares of the bank’s stock worth $17,554,000 after acquiring an additional 40,944 shares during the last quarter. Finally, Silver Lake Advisory LLC purchased a new stake in shares of Independent Bank Group in the 2nd quarter worth $5,491,000. 77.90% of the stock is owned by hedge funds and other institutional investors.

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.