Independent Bank Group (NASDAQ:IBTX) Rating Reiterated by Stephens

Stephens reaffirmed their overweight rating on shares of Independent Bank Group (NASDAQ:IBTX - Free Report) in a research note published on Tuesday, Benzinga reports. Stephens currently has a $55.00 price target on the bank's stock.

A number of other research analysts have also recently issued reports on IBTX. Raymond James raised 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. StockNews.com raised Independent Bank Group to a sell rating in a research note on Thursday, January 25th. Keefe, Bruyette & Woods raised 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. Finally, Truist Financial cut their target price on Independent Bank Group from $58.00 to $52.00 and set a buy rating on the stock in a research note on Monday, April 1st. 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 stock. According to MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $53.00.

Independent Bank Group Price Performance

NASDAQ IBTX traded down $1.32 during trading hours on Tuesday, reaching $40.55. 420,986 shares of the stock traded hands, compared to its average volume of 227,613. The stock has a 50 day simple moving average of $43.49 and a two-hundred day simple moving average of $43.63. Independent Bank Group has a 1 year low of $28.81 and a 1 year high of $53.25. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.97 and a quick ratio of 0.97. The company has a market cap of $1.67 billion, a price-to-earnings ratio of 38.99 and a beta of 1.33.

Independent Bank Group (NASDAQ:IBTX - Get Free Report) last announced its quarterly earnings data on Monday, April 22nd. The bank reported $0.63 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.57 by $0.06. Independent Bank Group had a return on equity of 5.76% and a net margin of 4.68%. The firm had revenue of $119.10 million for the quarter, compared to analysts' expectations of $121.39 million. During the same period last year, the firm earned $1.07 earnings per share. The company's revenue for the quarter was down 15.3% compared to the same quarter last year. On average, analysts predict 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 bought and sold shares of the company. Vanguard Group Inc. boosted its position in Independent Bank Group by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 4,180,301 shares of the bank's stock valued at $212,694,000 after acquiring an additional 22,245 shares in the last quarter. FMR LLC lifted its holdings in shares of Independent Bank Group by 12.6% during the third quarter. FMR LLC now owns 3,711,543 shares of the bank's stock valued at $146,792,000 after purchasing an additional 414,666 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Independent Bank Group by 1.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,114,470 shares of the bank's stock valued at $107,588,000 after purchasing an additional 40,112 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of Independent Bank Group by 4.9% during the fourth quarter. The Manufacturers Life Insurance Company now owns 770,665 shares of the bank's stock valued at $39,211,000 after purchasing an additional 35,806 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its holdings in shares of Independent Bank Group by 0.6% during the third quarter. The Manufacturers Life Insurance Company now owns 734,859 shares of the bank's stock valued at $29,064,000 after purchasing an additional 4,494 shares during the last quarter. 77.90% of the stock is 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.