Independent Bank Group (NASDAQ:IBTX) Stock Rating Reaffirmed by Stephens

Independent Bank Group (NASDAQ:IBTX)‘s stock had its “overweight” rating reaffirmed by analysts at Stephens in a note issued to investors on Tuesday, Benzinga reports. They currently have a $55.00 price target on the bank’s stock. Stephens’ price target suggests a potential upside of 34.74% from the company’s previous close.

IBTX has been the topic of several other research reports. Truist Financial decreased their price objective on Independent Bank Group from $58.00 to $52.00 and set a “buy” rating on the stock in a report on Monday, April 1st. Keefe, Bruyette & Woods lifted their price objective on Independent Bank Group from $53.00 to $55.00 and gave the stock an “outperform” rating in a report on Wednesday, January 24th. Raymond James lifted their price objective on Independent Bank Group from $56.00 to $59.00 and gave the stock an “outperform” rating in a report on Wednesday, January 24th. Finally, StockNews.com upgraded Independent Bank Group to a “sell” rating in a report on Thursday, January 25th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $50.83.

Independent Bank Group Trading Up 0.7 %

NASDAQ IBTX opened at $40.82 on Tuesday. The stock’s 50-day simple moving average is $43.41 and its two-hundred day simple moving average is $43.64. Independent Bank Group has a twelve month low of $28.81 and a twelve month high of $53.25. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.28. The company has a market capitalization of $1.68 billion, a price-to-earnings ratio of 39.25 and a beta of 1.33.

Independent Bank Group (NASDAQ:IBTX) last released its quarterly earnings results on Tuesday, April 23rd. The bank reported $0.63 earnings per share for the quarter, beating 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 business 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 company’s revenue for the quarter was down 15.3% on a year-over-year basis. Research analysts forecast that Independent Bank Group will post 2.88 EPS for the current fiscal year.

Institutional Trading of Independent Bank Group

Several large investors have recently modified their holdings of IBTX. GAMMA Investing LLC purchased a new position in shares of Independent Bank Group during the 4th quarter worth approximately $47,000. NBC Securities Inc. purchased a new stake in Independent Bank Group in the third quarter worth $55,000. Signaturefd LLC raised its holdings in Independent Bank Group by 49.8% in the third quarter. Signaturefd LLC now owns 1,513 shares of the bank’s stock worth $60,000 after purchasing an additional 503 shares in the last quarter. PNC Financial Services Group Inc. raised its holdings in Independent Bank Group by 51.3% in the third quarter. PNC Financial Services Group Inc. now owns 2,727 shares of the bank’s stock worth $108,000 after purchasing an additional 925 shares in the last quarter. Finally, Callahan Advisors LLC purchased a new position in Independent Bank Group during the third quarter valued at $201,000. 77.90% of the stock is owned by institutional investors.

Independent Bank Group Company Profile

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.