Independent Bank Group - IBTX Stock Forecast, Price & News

Independent Bank Group, Inc. operates as the bank holding company for Independent Bank that 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. The company also provides commercial real estate loans; commercial construction, land, and land development loans; residential real estate loans; single-family interim construction loans; commercial loans comprising SBA guaranteed loans, business term loans, equipment lease financing, lines of credit, and energy related loans; agricultural loans for farmers and ranchers; consumer installment loans comprising loans to purchase cars, boats, and other recreational vehicles; and residential mortgages, as well as mortgage warehouse purchase loans. In addition, it offers debit cards, online and mobile banking, eStatement, bank-by-mail, and direct deposit services; and business accounts and management services, including analyzed business checking, business savings, and treasury management services. As of December 31, 2021, the company operated 93 full-service branches. Independent Bank Group, Inc. was founded in 2002 and is headquartered in McKinney, Texas.

Independent Bank Group Trading Down 1.4 %

Shares of IBTX traded down $1.05 during mid-day trading on Wednesday, reaching $74.68. 98,921 shares of the company's stock traded hands, compared to its average volume of 211,674. The stock has a market cap of $3.07 billion, a P/E ratio of 15.46 and a beta of 1.51. The stock's 50-day moving average is $69.44 and its two-hundred day moving average is $71.85. Independent Bank Group has a 12 month low of $62.82 and a 12 month high of $79.66. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.94 and a quick ratio of 0.94.

Independent Bank Group (NASDAQ:IBTX - Get Rating) last released its earnings results on Monday, July 25th. The bank reported $1.27 EPS for the quarter, beating analysts' consensus estimates of $1.23 by $0.04. The firm had revenue of $151.88 million for the quarter, compared to analysts' expectations of $151.05 million. Independent Bank Group had a return on equity of 8.49% and a net margin of 32.74%. During the same quarter in the prior year, the firm posted $1.35 earnings per share. Research analysts forecast that Independent Bank Group will post 5.3 earnings per share for the current fiscal year.

Independent Bank Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 18th. Investors of record on Thursday, August 4th will be issued a $0.38 dividend. The ex-dividend date of this dividend is Wednesday, August 3rd. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.04%. Independent Bank Group's payout ratio is 31.02%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on IBTX shares. Truist Financial boosted their price objective on Independent Bank Group to $80.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 27th. Piper Sandler reduced their price objective on Independent Bank Group to $76.00 in a research note on Monday, July 4th. Finally, Stephens boosted their price objective on Independent Bank Group to $80.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 27th.

Insider Activity at Independent Bank Group

In related news, EVP James C. White sold 876 shares of the business's stock in a transaction that occurred on Friday, June 3rd. The stock was sold at an average price of $72.71, for a total value of $63,693.96. Following the completion of the sale, the executive vice president now owns 7,355 shares in the company, valued at $534,782.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.30% of the stock is owned by company insiders.