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.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on IBTX. Stephens lifted their price target on shares of Independent Bank Group to $80.00 and gave the stock an "outperform" rating in a report on Wednesday, July 27th. Truist Financial lifted their target price on Independent Bank Group to $80.00 and gave the stock an "outperform" rating in a report on Wednesday, July 27th. Finally, Piper Sandler decreased their price target on Independent Bank Group to $76.00 in a research note on Monday, July 4th.

Independent Bank Group Trading Up 1.1 %

NASDAQ:IBTX traded up $0.85 during mid-day trading on Tuesday, reaching $75.73. 118,879 shares of the stock were exchanged, compared to its average volume of 212,397. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.94 and a quick ratio of 0.94. The stock has a market cap of $3.12 billion, a P/E ratio of 15.39 and a beta of 1.51. The stock has a 50 day simple moving average of $69.37 and a 200-day simple moving average of $71.82. Independent Bank Group has a one year low of $62.82 and a one year high of $79.66.

Independent Bank Group (NASDAQ:IBTX - Get Rating) last posted its quarterly earnings data on Monday, July 25th. The bank reported $1.27 earnings per share for the quarter, topping the consensus estimate of $1.23 by $0.04. Independent Bank Group had a return on equity of 8.49% and a net margin of 32.74%. The firm had revenue of $151.88 million during the quarter, compared to analyst estimates of $151.05 million. During the same period last year, the company posted $1.35 EPS. On average, analysts anticipate that Independent Bank Group will post 5.3 EPS for the current year.

Independent Bank Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 18th. Stockholders of record on Thursday, August 4th will be given a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 2.01%. The ex-dividend date of this dividend is Wednesday, August 3rd. Independent Bank Group's dividend payout ratio (DPR) is 31.02%.

Insider Activity

In related news, EVP James C. White sold 876 shares of the stock in a transaction on Friday, June 3rd. The shares were sold at an average price of $72.71, for a total transaction of $63,693.96. Following the transaction, the executive vice president now directly owns 7,355 shares of the company's stock, valued at $534,782.05. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 3.30% of the stock is currently owned by company insiders.