Independent Bank Group, Inc. (NASDAQ:IBTX) Receives $54.20 Consensus PT from Analysts

Shares of Independent Bank Group, Inc. (NASDAQ:IBTX - Get Free Report) have been assigned a consensus rating of "Moderate Buy" from the five ratings firms that are covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a hold rating and four have issued a buy rating on the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $54.20.

IBTX has been the subject of a number of recent research reports. Stephens reiterated an "overweight" rating and set a $61.00 price objective on shares of Independent Bank Group in a research note on Tuesday, January 23rd. Keefe, Bruyette & Woods boosted their price objective on Independent Bank Group from $53.00 to $55.00 and gave the company an "outperform" rating in a research note on Wednesday, January 24th. Truist Financial cut their price objective on Independent Bank Group from $58.00 to $52.00 and set a "buy" rating for the company in a research note on Monday, April 1st. 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 note on Wednesday, January 24th. Finally, StockNews.com upgraded Independent Bank Group to a "sell" rating in a research note on Thursday, January 25th.

Independent Bank Group Stock Performance

Shares of NASDAQ IBTX traded down $2.53 during midday trading on Wednesday, hitting $40.73. 238,854 shares of the company's stock traded hands, compared to its average volume of 228,441. Independent Bank Group has a 1 year low of $28.81 and a 1 year high of $53.25. The stock has a market capitalization of $1.68 billion, a price-to-earnings ratio of 39.16 and a beta of 1.33. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.97 and a current ratio of 0.97. The firm has a fifty day moving average of $44.25 and a 200 day moving average of $43.53.

Independent Bank Group (NASDAQ:IBTX - Get Free Report) last released its quarterly earnings results on Tuesday, January 23rd. The bank reported $0.62 EPS for the quarter, missing the consensus estimate of $0.66 by ($0.04). Independent Bank Group had a net margin of 4.68% and a return on equity of 5.76%. The business had revenue of $116.92 million for the quarter, compared to analysts' expectations of $123.83 million. During the same period in the previous year, the company earned $1.20 EPS. Independent Bank Group's revenue for the quarter was down 23.6% compared to the same quarter last year. On average, analysts forecast that Independent Bank Group will post 2.88 earnings per share for the current year.

Independent Bank Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 15th. Shareholders of record on Thursday, February 1st were paid a $0.38 dividend. The ex-dividend date of this dividend was Wednesday, January 31st. This represents a $1.52 annualized dividend and a yield of 3.73%. Independent Bank Group's payout ratio is 146.16%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Versant Capital Management Inc boosted its position in shares of Independent Bank Group by 152.8% during the 3rd quarter. Versant Capital Management Inc now owns 622 shares of the bank's stock valued at $25,000 after acquiring an additional 376 shares during the last quarter. Brown Brothers Harriman & Co. bought a new position in shares of Independent Bank Group during the 1st quarter valued at approximately $38,000. GAMMA Investing LLC bought a new position in shares of Independent Bank Group during the 4th quarter valued at approximately $47,000. Point72 Middle East FZE bought a new position in shares of Independent Bank Group during the 4th quarter valued at approximately $54,000. Finally, NBC Securities Inc. bought a new position in shares of Independent Bank Group during the 3rd quarter valued at approximately $55,000. 77.90% of the stock is currently owned by 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.