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 – Get Rating) in a research note issued to investors on Thursday morning. The firm issued a sell rating on the bank’s stock.

Separately, Truist Financial decreased their price objective on shares of Independent Bank Group from $70.00 to $65.00 and set a buy rating on the stock in a research report on Wednesday, January 25th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus price target of $72.50.

Independent Bank Group Price Performance

Shares of NASDAQ IBTX traded down $2.45 during trading on Thursday, hitting $47.62. 1,017,406 shares of the company were exchanged, compared to its average volume of 262,350. The company has a market cap of $1.96 billion, a price-to-earnings ratio of 10.15 and a beta of 1.40. Independent Bank Group has a 1 year low of $44.57 and a 1 year high of $78.16. The firm’s fifty day moving average price is $58.97 and its 200 day moving average price is $62.17. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.95 and a quick ratio of 0.95.

Independent Bank Group (NASDAQ:IBTX – Get Rating) last issued its earnings results on Tuesday, January 24th. The bank reported $1.20 EPS for the quarter, missing the consensus estimate of $1.28 by ($0.08). The company had revenue of $201.00 million for the quarter, compared to analysts’ expectations of $161.40 million. Independent Bank Group had a return on equity of 8.72% and a net margin of 27.78%. During the same quarter in the previous year, the firm posted $1.28 earnings per share. On average, sell-side analysts expect that Independent Bank Group will post 4.46 earnings per share for the current fiscal year.

Independent Bank Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 16th. Investors of record on Monday, February 6th were given a $0.38 dividend. The ex-dividend date was Friday, February 3rd. This represents a $1.52 annualized dividend and a dividend yield of 3.19%. Independent Bank Group’s dividend payout ratio is presently 32.41%.

Institutional Investors Weigh In On Independent Bank Group

Several institutional investors and hedge funds have recently made changes to their positions in the business. Texas Permanent School Fund raised its stake in Independent Bank Group by 1.0% in the 2nd quarter. Texas Permanent School Fund now owns 26,326 shares of the bank’s stock valued at $1,788,000 after purchasing an additional 258 shares during the last quarter. Point72 Hong Kong Ltd raised its stake in Independent Bank Group by 17.8% in the 1st quarter. Point72 Hong Kong Ltd now owns 1,876 shares of the bank’s stock valued at $133,000 after purchasing an additional 283 shares during the last quarter. Advisory Research Inc. raised its stake in Independent Bank Group by 3.7% in the 2nd quarter. Advisory Research Inc. now owns 8,287 shares of the bank’s stock valued at $563,000 after purchasing an additional 295 shares during the last quarter. Summit Creek Advisors LLC raised its stake in Independent Bank Group by 0.3% in the 4th quarter. Summit Creek Advisors LLC now owns 113,692 shares of the bank’s stock valued at $6,831,000 after purchasing an additional 318 shares during the last quarter. Finally, Captrust Financial Advisors raised its stake in Independent Bank Group by 2.1% in the 4th quarter. Captrust Financial Advisors now owns 15,819 shares of the bank’s stock valued at $950,000 after purchasing an additional 322 shares during the last quarter. 75.83% of the stock is currently owned by hedge funds and other institutional investors.

About Independent Bank Group

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Independent Bank Group, Inc is a bank holding company, which engages in the provision of relationship-driven commercial banking products and services tailored to meet the needs of businesses, professionals and individuals. It offers checking, savings, commercial loans, business services and cash management solutions.