Independent Bank Group (IBTX) – Analysts’ Recent Ratings Changes

Several analysts have recently updated their ratings and price targets for Independent Bank Group (NASDAQ: IBTX):

• 11/14/2024 – Independent Bank Group is now covered by analysts at StockNews.com. They set a “sell” rating on the stock.
• 11/7/2024 – Independent Bank Group had its price target raised by analysts at Keefe, Bruyette & Woods from $69.00 to $72.00. They now have an “outperform” rating on the stock.
• 11/6/2024 – Independent Bank Group is now covered by analysts at StockNews.com. They set a “sell” rating on the stock.
• 10/29/2024 – Independent Bank Group is now covered by analysts at StockNews.com. They set a “sell” rating on the stock.
• 10/23/2024 – Independent Bank Group had its price target lowered by analysts at Truist Financial Co. from $66.00 to $63.00. They now have a “hold” rating on the stock.
• 10/21/2024 – Independent Bank Group is now covered by analysts at StockNews.com. They set a “sell” rating on the stock.
• 10/13/2024 – Independent Bank Group is now covered by analysts at StockNews.com. They set a “sell” rating on the stock.
• 10/5/2024 – Independent Bank Group is now covered by analysts at StockNews.com. They set a “sell” rating on the stock.
• 9/27/2024 – Independent Bank Group is now covered by analysts at StockNews.com. They set a “sell” rating on the stock.
• 9/20/2024 – Independent Bank Group had its price target raised by analysts at Truist Financial Co. from $65.00 to $66.00. They now have a “hold” rating on the stock.

Independent Bank Group Price Performance

Shares of IBTX stock opened at $63.22 on Tuesday. The company has a market capitalization of $2.62 billion, a P/E ratio of -6.04 and a beta of 1.38. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.26. The stock has a 50 day moving average of $59.19 and a two-hundred day moving average of $52.79. Independent Bank Group, Inc. has a 12 month low of $36.16 and a 12 month high of $67.92.

Independent Bank Group (NASDAQ:IBTX) last announced its quarterly earnings results on Monday, October 21st. The bank reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.71 by ($0.21). The firm had revenue of $255.18 million for the quarter, compared to the consensus estimate of $124.48 million. Independent Bank Group had a negative net margin of 43.45% and a positive return on equity of 4.49%. During the same period in the prior year, the business earned $0.79 earnings per share. As a group, equities analysts expect that Independent Bank Group, Inc. will post 2.51 EPS for the current year.

Independent Bank Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Thursday, October 31st were given a $0.38 dividend. The ex-dividend date was Thursday, October 31st. This represents a $1.52 annualized dividend and a dividend yield of 2.40%. Independent Bank Group’s dividend payout ratio is presently -14.53%.

Hedge Funds Weigh In On Independent Bank Group

Large investors have recently bought and sold shares of the company. FMR LLC raised its stake in Independent Bank Group by 8.1% in the third quarter. FMR LLC now owns 3,725,572 shares of the bank’s stock valued at $214,816,000 after buying an additional 279,112 shares during the period. Dimensional Fund Advisors LP raised its stake in Independent Bank Group by 1.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,316,743 shares of the bank’s stock valued at $105,456,000 after acquiring an additional 39,091 shares during the period. Geode Capital Management LLC lifted its holdings in Independent Bank Group by 1.8% during the 3rd quarter. Geode Capital Management LLC now owns 879,076 shares of the bank’s stock valued at $50,697,000 after purchasing an additional 15,447 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in Independent Bank Group by 1.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 485,269 shares of the bank’s stock worth $27,981,000 after purchasing an additional 7,287 shares during the period. Finally, Magnetar Financial LLC acquired a new position in shares of Independent Bank Group in the second quarter valued at $14,146,000. Institutional investors and hedge funds own 77.90% of the company’s stock.

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.