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.

Analyst Ratings Changes

IBTX has been the topic of a number of recent research reports. Truist Financial raised their price objective on shares of Independent Bank Group to $80.00 and gave the company an "outperform" rating in a research note on Wednesday, July 27th. Piper Sandler reduced their price objective on shares of Independent Bank Group to $76.00 in a research note on Monday, July 4th. Finally, Stephens raised their price objective on shares of Independent Bank Group to $80.00 and gave the company an "outperform" rating in a research note on Wednesday, July 27th.

Independent Bank Group Trading Up 0.3 %

IBTX traded up $0.25 during mid-day trading on Friday, hitting $74.27. The stock had a trading volume of 123,668 shares, compared to its average volume of 159,526. The stock's fifty day simple moving average is $69.33 and its 200-day simple moving average is $71.83. 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 firm has a market capitalization of $3.06 billion, a price-to-earnings ratio of 15.16 and a beta of 1.51. Independent Bank Group has a 1-year low of $62.82 and a 1-year high of $79.66.

Independent Bank Group (NASDAQ:IBTX - Get Rating) last posted its earnings results 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. The company had revenue of $151.88 million for the quarter, compared to analyst estimates of $151.05 million. Independent Bank Group had a net margin of 32.74% and a return on equity of 8.49%. During the same period last year, the business posted $1.35 earnings per share. As a group, research analysts forecast that Independent Bank Group will post 5.3 EPS for the current fiscal year.

Independent Bank Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 18th. Investors of record on Thursday, August 4th will be issued a dividend of $0.38 per share. 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 2.05%. Independent Bank Group's payout ratio is 31.02%.

Insider Buying and Selling

In related news, EVP James C. White sold 876 shares of the firm's 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 sale, the executive vice president now directly owns 7,355 shares in the company, valued at $534,782.05. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 3.30% of the stock is currently owned by company insiders.