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) in a research note published on Friday. The brokerage issued a sell rating on the bank’s stock.

IBTX has been the subject of a number of other research reports. Keefe, Bruyette & Woods lifted their target price on Independent Bank Group from $69.00 to $72.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Truist Financial decreased their price objective on shares of Independent Bank Group from $66.00 to $63.00 and set a “hold” rating for the company in a research note on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $58.83.

Independent Bank Group Trading Up 2.8 %

Shares of Independent Bank Group stock opened at $67.31 on Friday. The firm’s 50 day simple moving average is $59.88 and its two-hundred day simple moving average is $53.44. The firm has a market capitalization of $2.79 billion, a price-to-earnings ratio of -6.43 and a beta of 1.38. Independent Bank Group has a 12-month low of $36.16 and a 12-month high of $68.66. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.26.

Independent Bank Group (NASDAQ:IBTX) last released its 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). Independent Bank Group had a negative net margin of 43.45% and a positive return on equity of 4.49%. The firm had revenue of $255.18 million during the quarter, compared to analyst estimates of $124.48 million. During the same period in the previous year, the company earned $0.79 earnings per share. Analysts predict that Independent Bank Group will post 2.7 EPS for the current year.

Independent Bank Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st were issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 2.26%. The ex-dividend date was Thursday, October 31st. Independent Bank Group’s payout ratio is presently -14.53%.

Institutional Trading of Independent Bank Group

Hedge funds have recently added to or reduced their stakes in the company. FMR LLC raised its position in shares of Independent Bank Group by 8.1% in the third quarter. FMR LLC now owns 3,725,572 shares of the bank’s stock worth $214,816,000 after acquiring an additional 279,112 shares during the period. Dimensional Fund Advisors LP raised its holdings 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 worth $105,456,000 after purchasing an additional 39,091 shares during the period. Geode Capital Management LLC boosted its position in Independent Bank Group by 1.8% during the third quarter. Geode Capital Management LLC now owns 879,076 shares of the bank’s stock worth $50,697,000 after purchasing an additional 15,447 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Independent Bank Group by 1.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 485,269 shares of the bank’s stock valued at $27,981,000 after purchasing an additional 7,287 shares during the period. Finally, Magnetar Financial LLC purchased a new stake in shares of Independent Bank Group in the second quarter valued at approximately $14,146,000. 77.90% of the stock is owned by hedge funds and other institutional investors.

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.