Independent Bank Group Inc (NASDAQ:IBTX) has been given an average recommendation of “Hold” by the nine brokerages that are currently covering the company, Marketbeat.com reports. Two analysts have rated the stock with a sell recommendation, two have given a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $78.60.
A number of research analysts have commented on IBTX shares. BidaskClub downgraded shares of Independent Bank Group from a “hold” rating to a “sell” rating in a research report on Saturday, September 1st. ValuEngine downgraded shares of Independent Bank Group from a “buy” rating to a “hold” rating in a research report on Friday, June 8th. Stephens reissued a “buy” rating and set a $86.00 target price on shares of Independent Bank Group in a research report on Tuesday, July 24th. Hovde Group set a $80.00 target price on shares of Independent Bank Group and gave the company a “buy” rating in a research report on Wednesday, July 25th. Finally, Zacks Investment Research downgraded shares of Independent Bank Group from a “buy” rating to a “hold” rating in a research report on Wednesday, July 25th.
NASDAQ IBTX traded down $0.50 during trading on Friday, reaching $67.75. 336,970 shares of the company’s stock traded hands, compared to its average volume of 141,546. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.07 and a current ratio of 1.07. The company has a market capitalization of $2.08 billion, a price-to-earnings ratio of 19.64 and a beta of 1.24. Independent Bank Group has a 12-month low of $51.70 and a 12-month high of $79.00.
Independent Bank Group (NASDAQ:IBTX) last posted its earnings results on Monday, July 23rd. The bank reported $1.11 EPS for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.03). The business had revenue of $89.04 million for the quarter, compared to analysts’ expectations of $90.43 million. Independent Bank Group had a net margin of 25.16% and a return on equity of 8.10%. During the same period last year, the business posted $0.82 EPS. equities analysts expect that Independent Bank Group will post 4.57 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 16th. Stockholders of record on Monday, August 6th were given a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.83%. The ex-dividend date of this dividend was Friday, August 3rd. Independent Bank Group’s payout ratio is currently 16.23%.
In other news, Director G Stacy Smith acquired 10,000 shares of the business’s stock in a transaction dated Friday, July 27th. The shares were purchased at an average price of $68.56 per share, with a total value of $685,600.00. Following the transaction, the director now directly owns 89,974 shares in the company, valued at $6,168,617.44. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 10.90% of the stock is owned by insiders.
Institutional investors have recently modified their holdings of the company. UBS Group AG grew its position in shares of Independent Bank Group by 1,441.6% in the 1st quarter. UBS Group AG now owns 2,559 shares of the bank’s stock worth $181,000 after buying an additional 2,393 shares during the last quarter. Trexquant Investment LP acquired a new stake in Independent Bank Group in the 2nd quarter worth approximately $300,000. Segment Wealth Management LLC acquired a new stake in Independent Bank Group in the 2nd quarter worth approximately $302,000. Financial Advisory Group acquired a new stake in Independent Bank Group in the 2nd quarter worth approximately $329,000. Finally, Stevens Capital Management LP acquired a new stake in Independent Bank Group in the 2nd quarter worth approximately $343,000. 57.20% of the stock is currently owned by hedge funds and other institutional investors.
Independent Bank Group Company Profile
Independent Bank Group, Inc operates as the bank holding company for Independent Bank that provides a range of commercial banking products and services to businesses, professionals, and individuals in the United States. It offers various deposit products, including checking and savings accounts, demand accounts, money market accounts, and certificates of deposit, as well as individual retirement accounts.
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