Other analysts have also recently issued reports about the company. Zacks Investment Research upgraded Independent Bank Group from a “hold” rating to a “buy” rating and set a $60.00 price target on the stock in a report on Wednesday, April 3rd. ValuEngine cut Independent Bank Group from a “sell” rating to a “strong sell” rating in a report on Wednesday, March 20th. Raymond James cut Independent Bank Group from a “strong-buy” rating to an “outperform” rating and reduced their price target for the stock from $72.00 to $61.00 in a report on Monday, January 7th. Finally, Stephens set a $61.00 price target on Independent Bank Group and gave the stock a “buy” rating in a report on Thursday, December 27th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $65.20.
Independent Bank Group stock opened at $56.14 on Tuesday. Independent Bank Group has a 12-month low of $44.14 and a 12-month high of $79.00. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.28. The stock has a market capitalization of $2.47 billion, a price-to-earnings ratio of 12.59 and a beta of 1.47.
Independent Bank Group (NASDAQ:IBTX) last released its earnings results on Monday, January 28th. The bank reported $1.12 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.21 by ($0.09). Independent Bank Group had a net margin of 28.53% and a return on equity of 8.72%. The business had revenue of $97.00 million during the quarter, compared to the consensus estimate of $98.47 million. During the same quarter in the prior year, the firm earned $0.90 EPS. As a group, equities analysts anticipate that Independent Bank Group will post 5.23 earnings per share for the current fiscal year.
In related news, Director Paul W. Taylor sold 12,667 shares of Independent Bank Group stock in a transaction that occurred on Thursday, January 31st. The stock was sold at an average price of $52.88, for a total value of $669,830.96. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Paul W. Taylor sold 5,000 shares of Independent Bank Group stock in a transaction that occurred on Thursday, February 21st. The stock was sold at an average price of $57.22, for a total value of $286,100.00. Following the completion of the transaction, the director now directly owns 36,229 shares in the company, valued at $2,073,023.38. The disclosure for this sale can be found here. 10.90% of the stock is owned by insiders.
Several institutional investors have recently bought and sold shares of the stock. Bank of Montreal Can lifted its stake in Independent Bank Group by 64.7% in the fourth quarter. Bank of Montreal Can now owns 1,130 shares of the bank’s stock valued at $52,000 after buying an additional 444 shares during the period. Macquarie Group Ltd. raised its position in shares of Independent Bank Group by 50.2% during the third quarter. Macquarie Group Ltd. now owns 829,480 shares of the bank’s stock worth $54,995,000 after purchasing an additional 277,098 shares during the period. Janus Henderson Group PLC acquired a new position in shares of Independent Bank Group during the third quarter worth approximately $244,000. Marshall Wace LLP acquired a new position in shares of Independent Bank Group during the third quarter worth approximately $12,186,000. Finally, Summit Securities Group LLC acquired a new position in shares of Independent Bank Group during the fourth quarter worth approximately $468,000. 47.46% of the stock is currently owned by institutional investors.
Independent Bank Group Company Profile
Independent Bank Group, Inc operates as the bank holding company for Independent Bank that provides various commercial banking products and services to businesses, professionals, and individuals in the United States. It offers various deposit products, including demand deposits, money market accounts, and certificates of deposit.
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