Shares of Independent Bank Group, Inc. (NASDAQ:IBTX – Get Free Report) gapped down prior to trading on Wednesday after Hovde Group lowered their price target on the stock from $53.00 to $46.00. The stock had previously closed at $40.55, but opened at $39.26. Hovde Group currently has a market perform rating on the stock. Independent Bank Group shares last traded at $40.92, with a volume of 31,181 shares traded.
Other equities analysts also recently issued reports about the company. Raymond James boosted their price objective on Independent Bank Group from $56.00 to $59.00 and gave the company an “outperform” rating in a research report on Wednesday, January 24th. Truist Financial decreased their target price on Independent Bank Group from $58.00 to $52.00 and set a “buy” rating on the stock in a research report on Monday, April 1st. Stephens reaffirmed an “overweight” rating and set a $55.00 target price on shares of Independent Bank Group in a research report on Tuesday. Keefe, Bruyette & Woods increased their price objective on Independent Bank Group from $53.00 to $55.00 and gave the company an “outperform” rating in a report on Wednesday, January 24th. Finally, Piper Sandler cut Independent Bank Group from a “neutral” rating to an “underweight” rating and reduced their price objective for the stock from $48.00 to $38.00 in a research note on Wednesday. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $50.83.
Read Our Latest Research Report on Independent Bank Group
Institutional Trading of Independent Bank Group
Independent Bank Group Price Performance
The company has a debt-to-equity ratio of 0.28, a current ratio of 0.97 and a quick ratio of 0.97. The stock has a 50 day moving average price of $43.49 and a 200-day moving average price of $43.63. The stock has a market capitalization of $1.70 billion, a price-to-earnings ratio of 38.99 and a beta of 1.33.
Independent Bank Group (NASDAQ:IBTX – Get Free Report) last announced its quarterly earnings data on Tuesday, April 23rd. The bank reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.06. Independent Bank Group had a return on equity of 4.99% and a net margin of 10.96%. The firm had revenue of $119.10 million for the quarter, compared to the consensus estimate of $121.39 million. During the same quarter last year, the business posted $1.07 earnings per share. The firm’s revenue was down 15.3% compared to the same quarter last year. On average, analysts forecast that Independent Bank Group, Inc. will post 2.88 earnings per share for the current year.
Independent Bank Group Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 16th. Investors of record on Thursday, May 2nd will be given a dividend of $0.38 per share. The ex-dividend date is Wednesday, May 1st. This represents a $1.52 dividend on an annualized basis and a yield of 3.69%. Independent Bank Group’s payout ratio is 146.15%.
About Independent Bank Group
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.
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