Independent Bank Group (NASDAQ:IBTX) Price Target Cut to $52.00

Independent Bank Group (NASDAQ:IBTX - Free Report) had its target price trimmed by Truist Financial from $58.00 to $52.00 in a research report report published on Monday morning, Benzinga reports. The brokerage currently has a buy rating on the bank's stock.

Several other research analysts have also recently weighed in on IBTX. StockNews.com upgraded shares of Independent Bank Group to a sell rating in a report on Thursday, January 25th. Stephens restated an overweight rating and set a $61.00 target price on shares of Independent Bank Group in a report on Tuesday, January 23rd. Raymond James increased their target price on shares of Independent Bank Group from $56.00 to $59.00 and gave the stock an outperform rating in a report on Wednesday, January 24th. Finally, Keefe, Bruyette & Woods increased their target price on shares of Independent Bank Group from $53.00 to $55.00 and gave the stock an outperform rating in a report on Wednesday, January 24th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average target price of $54.20.

Independent Bank Group Trading Down 3.7 %

NASDAQ:IBTX traded down $1.68 during trading hours on Monday, hitting $43.97. The stock had a trading volume of 240,497 shares, compared to its average volume of 235,066. The company has a market cap of $1.82 billion, a price-to-earnings ratio of 43.89 and a beta of 1.33. Independent Bank Group has a one year low of $28.81 and a one year high of $53.25. 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 business's 50 day moving average is $45.60 and its 200-day moving average is $43.42.

Independent Bank Group (NASDAQ:IBTX - Get Free Report) last released its quarterly earnings results on Tuesday, January 23rd. The bank reported $0.62 earnings per share for the quarter, missing the consensus estimate of $0.66 by ($0.04). The company had revenue of $116.92 million during the quarter, compared to analyst estimates of $123.83 million. Independent Bank Group had a net margin of 4.68% and a return on equity of 5.76%. The firm's quarterly revenue was down 23.6% compared to the same quarter last year. During the same quarter last year, the company earned $1.20 EPS. Sell-side analysts anticipate that Independent Bank Group will post 2.93 EPS for the current fiscal year.

Independent Bank Group Dividend Announcement

The company 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. This represents a $1.52 dividend on an annualized basis and a yield of 3.46%. The ex-dividend date was Wednesday, January 31st. Independent Bank Group's dividend payout ratio is currently 146.16%.

Institutional Trading of Independent Bank Group

A number of large investors have recently added to or reduced their stakes in the company. Ameritas Investment Partners Inc. lifted its stake in Independent Bank Group by 8.5% in the second quarter. Ameritas Investment Partners Inc. now owns 2,990 shares of the bank's stock valued at $103,000 after acquiring an additional 233 shares during the last quarter. Point72 Hong Kong Ltd raised its position in shares of Independent Bank Group by 17.8% in the first quarter. Point72 Hong Kong Ltd now owns 1,876 shares of the bank's stock valued at $133,000 after purchasing an additional 283 shares during the period. Cambridge Investment Research Advisors Inc. raised its position in shares of Independent Bank Group by 1.5% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 20,459 shares of the bank's stock valued at $809,000 after purchasing an additional 295 shares during the period. Captrust Financial Advisors raised its position in shares of Independent Bank Group by 2.1% in the fourth quarter. Captrust Financial Advisors now owns 15,819 shares of the bank's stock valued at $950,000 after purchasing an additional 322 shares during the period. Finally, US Bancorp DE raised its position in shares of Independent Bank Group by 4.7% in the fourth quarter. US Bancorp DE now owns 7,379 shares of the bank's stock valued at $375,000 after purchasing an additional 328 shares during the period. Institutional investors and hedge funds own 77.90% of the company's stock.

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.