Shares of Independent Bank Group, Inc. (NASDAQ:IBTX) have been assigned a consensus rating of “Buy” from the eight analysts that are covering the stock, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $63.42.
A number of brokerages have weighed in on IBTX. Truist increased their price target on shares of Independent Bank Group from $75.00 to $87.00 in a report on Friday, March 19th. Zacks Investment Research raised shares of Independent Bank Group from a “hold” rating to a “buy” rating and set a $81.00 price target for the company in a report on Wednesday, April 7th. Finally, Truist Securities increased their price target on shares of Independent Bank Group from $75.00 to $87.00 and gave the company a “buy” rating in a report on Thursday, March 25th.
In related news, Vice Chairman Daniel W. Brooks sold 5,000 shares of Independent Bank Group stock in a transaction dated Tuesday, February 23rd. The shares were sold at an average price of $72.00, for a total transaction of $360,000.00. Following the completion of the transaction, the insider now directly owns 117,403 shares of the company’s stock, valued at approximately $8,453,016. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP James P. Tippit sold 615 shares of Independent Bank Group stock in a transaction dated Friday, March 12th. The shares were sold at an average price of $78.73, for a total transaction of $48,418.95. Following the transaction, the executive vice president now directly owns 14,783 shares of the company’s stock, valued at $1,163,865.59. The disclosure for this sale can be found here. Insiders have sold a total of 119,123 shares of company stock valued at $8,764,094 over the last ninety days. 4.00% of the stock is owned by insiders.
Shares of IBTX traded up $1.61 during mid-day trading on Monday, hitting $75.47. 128,847 shares of the company’s stock were exchanged, compared to its average volume of 216,412. Independent Bank Group has a twelve month low of $26.93 and a twelve month high of $80.71. The firm has a fifty day moving average of $74.65 and a two-hundred day moving average of $67.07. The company has a quick ratio of 1.03, a current ratio of 1.04 and a debt-to-equity ratio of 0.30. The stock has a market cap of $3.26 billion, a price-to-earnings ratio of 16.81 and a beta of 1.85.
Independent Bank Group (NASDAQ:IBTX) last posted its earnings results on Sunday, April 25th. The bank reported $1.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.34 by $0.05. Independent Bank Group had a net margin of 27.32% and a return on equity of 8.68%. On average, equities analysts predict that Independent Bank Group will post 4.87 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 20th. Stockholders of record on Thursday, May 6th will be issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.70%. This is an increase from Independent Bank Group’s previous quarterly dividend of $0.30. The ex-dividend date is Wednesday, May 5th. Independent Bank Group’s dividend payout ratio (DPR) is presently 25.20%.
About Independent Bank Group
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 accepts various deposit products, including checking and savings accounts, demand deposits, money market accounts, and certificates of deposit.
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