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

Stephens reaffirmed their overweight rating on shares of Independent Bank Group (NASDAQ:IBTX) in a research report released on Tuesday morning, Benzinga reports. Stephens currently has a $55.00 target price on the bank’s stock.

A number of other research firms also recently issued reports on IBTX. StockNews.com upgraded Independent Bank Group to a sell rating in a research note on Thursday, January 25th. Raymond James lifted their price target on Independent Bank Group from $56.00 to $59.00 and gave the company an outperform rating in a research note on Wednesday, January 24th. Truist Financial cut their price target on Independent Bank Group from $58.00 to $52.00 and set a buy rating for the company in a research note on Monday, April 1st. Finally, Keefe, Bruyette & Woods lifted their price target on Independent Bank Group from $53.00 to $55.00 and gave the company an outperform rating in a research note on Wednesday, January 24th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of Hold and a consensus price target of $49.83.

Independent Bank Group Stock Performance

IBTX stock opened at $39.26 on Tuesday. The stock has a 50-day moving average price of $43.32 and a 200-day moving average price of $43.62. Independent Bank Group has a 1-year low of $28.81 and a 1-year 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 0.23. The firm has a market cap of $1.62 billion, a PE ratio of 15.52 and a beta of 1.33.

Independent Bank Group (NASDAQ:IBTX) last issued its earnings results on Tuesday, April 23rd. The bank reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.06. Independent Bank Group had a return on equity of 4.97% and a net margin of 10.96%. The business had revenue of $119.10 million during the quarter, compared to analyst estimates of $121.39 million. During the same period in the previous year, the company posted $1.07 EPS. The firm’s revenue was down 15.3% compared to the same quarter last year. As a group, equities research analysts expect that Independent Bank Group will post 2.79 earnings per share for the current year.

Independent Bank Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 16th. Shareholders of record on Thursday, May 2nd will be issued a dividend of $0.38 per share. The ex-dividend date of this dividend is Wednesday, May 1st. This represents a $1.52 dividend on an annualized basis and a yield of 3.87%. Independent Bank Group’s payout ratio is 60.08%.

Institutional Investors Weigh In On Independent Bank Group

A number of hedge funds and other institutional investors have recently bought and sold shares of IBTX. GAMMA Investing LLC bought a new stake in Independent Bank Group during the 4th quarter valued at $47,000. NBC Securities Inc. bought a new stake in Independent Bank Group during the 3rd quarter valued at $55,000. Signaturefd LLC raised its holdings in Independent Bank Group by 49.8% during the 3rd quarter. Signaturefd LLC now owns 1,513 shares of the bank’s stock valued at $60,000 after acquiring an additional 503 shares during the period. PNC Financial Services Group Inc. raised its holdings in Independent Bank Group by 51.3% during the 3rd quarter. PNC Financial Services Group Inc. now owns 2,727 shares of the bank’s stock valued at $108,000 after acquiring an additional 925 shares during the period. Finally, Callahan Advisors LLC bought a new position in shares of Independent Bank Group in the third quarter worth $201,000. 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.