Independent Bank Group (NASDAQ:IBTX - Free Report) had its target price lowered by Keefe, Bruyette & Woods from $55.00 to $46.00 in a report released on Friday, Benzinga reports. The brokerage currently has an outperform rating on the bank's stock.
A number of other brokerages also recently commented on IBTX. Truist Financial reduced their target price on shares of Independent Bank Group from $52.00 to $46.00 and set a buy rating on the stock in a research note on Thursday. Piper Sandler lowered shares of Independent Bank Group from a neutral rating to an underweight rating and reduced their price target for the company from $48.00 to $38.00 in a research report on Wednesday. Raymond James increased their price objective on Independent Bank Group from $56.00 to $59.00 and gave the stock an outperform rating in a research report on Wednesday, January 24th. Hovde Group cut their target price on Independent Bank Group from $53.00 to $46.00 and set a market perform rating for the company in a research note on Wednesday. Finally, StockNews.com raised Independent Bank Group to a sell rating in a research note 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 stock. According to MarketBeat, the company has a consensus rating of Hold and an average target price of $48.33.
Read Our Latest Report on Independent Bank Group
Independent Bank Group Price Performance
Shares of NASDAQ IBTX traded up $0.08 during mid-day trading on Friday, reaching $39.34. The company's stock had a trading volume of 153,835 shares, compared to its average volume of 227,812. The stock has a 50-day moving average of $43.17 and a two-hundred day moving average of $43.59. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.97 and a current ratio of 0.97. The stock has a market capitalization of $1.63 billion, a P/E ratio of 15.55 and a beta of 1.33. Independent Bank Group has a 1-year low of $28.81 and a 1-year high of $53.25.
Independent Bank Group (NASDAQ:IBTX - Get Free Report) last released its quarterly earnings data on Tuesday, April 23rd. The bank reported $0.63 EPS for the quarter, beating analysts' consensus estimates of $0.57 by $0.06. Independent Bank Group had a net margin of 10.96% and a return on equity of 4.97%. The company had revenue of $119.10 million during the quarter, compared to the consensus estimate of $121.39 million. During the same quarter in the prior year, the firm earned $1.07 EPS. Independent Bank Group's quarterly revenue was down 15.3% on a year-over-year basis. On average, equities research analysts anticipate that Independent Bank Group will post 2.79 EPS for the current fiscal year.
Independent Bank Group Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Thursday, May 16th. Shareholders of record on Thursday, May 2nd will be paid a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 3.86%. The ex-dividend date of this dividend is Wednesday, May 1st. Independent Bank Group's dividend payout ratio (DPR) is 60.08%.
Hedge Funds Weigh In On Independent Bank Group
A number of hedge funds and other institutional investors have recently bought and sold shares of IBTX. NBC Securities Inc. raised its stake in shares of Independent Bank Group by 19.7% in the first quarter. NBC Securities Inc. now owns 1,674 shares of the bank's stock valued at $76,000 after acquiring an additional 275 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its position in Independent Bank Group by 1.5% in the 3rd 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 in the last quarter. Signaturefd LLC boosted its stake in shares of Independent Bank Group by 49.8% in the 3rd quarter. Signaturefd LLC now owns 1,513 shares of the bank's stock valued at $60,000 after buying an additional 503 shares during the period. Tectonic Advisors LLC grew its position in shares of Independent Bank Group by 3.7% during the fourth quarter. Tectonic Advisors LLC now owns 17,205 shares of the bank's stock worth $875,000 after buying an additional 609 shares in the last quarter. Finally, Tudor Investment Corp Et Al grew its position in shares of Independent Bank Group by 0.7% in the 3rd quarter. Tudor Investment Corp Et Al now owns 103,891 shares of the bank's stock valued at $4,109,000 after buying an additional 728 shares during the last quarter. 77.90% of the stock is currently owned by hedge funds and other institutional investors.
About Independent Bank Group
(
Get Free Report)
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.
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