Independent Bank Group (NASDAQ:IBTX) Sees Large Volume Increase

Independent Bank Group, Inc. (NASDAQ:IBTX - Get Free Report) shares saw unusually-high trading volume on Tuesday . Approximately 464,957 shares traded hands during trading, an increase of 87% from the previous session's volume of 248,525 shares.The stock last traded at $47.28 and had previously closed at $47.30.

Analysts Set New Price Targets

IBTX has been the subject of a number of recent analyst reports. Raymond James increased their target price on shares of Independent Bank Group from $56.00 to $59.00 and gave the company an "outperform" rating in a research report on Wednesday, January 24th. Piper Sandler downgraded shares of Independent Bank Group from a "neutral" rating to an "underweight" rating and reduced their price objective for the stock from $48.00 to $38.00 in a research report on Wednesday, April 24th. Keefe, Bruyette & Woods reduced their price objective on shares of Independent Bank Group from $55.00 to $46.00 and set an "outperform" rating for the company in a research report on Friday, April 26th. Hovde Group reduced their price objective on shares of Independent Bank Group from $53.00 to $46.00 and set a "market perform" rating for the company in a research report on Wednesday, April 24th. Finally, Truist Financial reduced their price objective on shares of Independent Bank Group from $52.00 to $46.00 and set a "buy" rating for the company in a research report on Thursday, April 25th. Two analysts have rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $48.33.

Independent Bank Group Trading Down 1.0 %

The business has a fifty day moving average of $42.08 and a 200-day moving average of $44.17. 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 company has a market capitalization of $1.94 billion, a P/E ratio of 18.51 and a beta of 1.36.

Independent Bank Group (NASDAQ:IBTX - Get Free Report) last issued its earnings results on Tuesday, April 23rd. The bank reported $0.63 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.57 by $0.06. Independent Bank Group had a return on equity of 4.97% and a net margin of 10.96%. The company had revenue of $119.10 million for the quarter, compared to analysts' expectations of $121.39 million. During the same period last year, the business earned $1.07 EPS. Independent Bank Group's quarterly revenue was down 15.3% compared to the same quarter last year. Analysts anticipate that Independent Bank Group, Inc. will post 2.63 earnings per share for the current fiscal year.

Independent Bank Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, May 16th. Investors of record on Thursday, May 2nd were issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.25%. The ex-dividend date was Wednesday, May 1st. Independent Bank Group's dividend payout ratio is currently 60.08%.

Hedge Funds Weigh In On Independent Bank Group

Large investors have recently bought and sold shares of the stock. Headlands Technologies LLC bought a new position in Independent Bank Group during the 1st quarter valued at $30,000. Fidelis Capital Partners LLC bought a new position in Independent Bank Group during the 1st quarter valued at $33,000. GAMMA Investing LLC bought a new position in Independent Bank Group during the 4th quarter valued at $47,000. NBC Securities Inc. bought a new position in Independent Bank Group during the 3rd quarter valued at $55,000. Finally, Signaturefd LLC lifted its stake in Independent Bank Group by 49.8% during the 3rd quarter. Signaturefd LLC now owns 1,513 shares of the bank's stock valued at $60,000 after acquiring an additional 503 shares in the last quarter. 77.90% of the stock is currently 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.

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