Independent Bank Group Inc (NASDAQ:IBTX) Given Average Rating of “Hold” by Brokerages

Shares of Independent Bank Group Inc (NASDAQ:IBTX) have been assigned a consensus rating of “Hold” from the seven research firms that are presently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and one has given a buy recommendation to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $61.33.

Several research firms recently commented on IBTX. ValuEngine upgraded shares of Independent Bank Group from a “sell” rating to a “hold” rating in a research report on Sunday, February 9th. Hovde Group downgraded shares of Independent Bank Group from an “outperform” rating to a “hold” rating in a research report on Wednesday, December 11th. Raymond James downgraded shares of Independent Bank Group from an “outperform” rating to a “market perform” rating in a research report on Tuesday, December 10th. BidaskClub downgraded shares of Independent Bank Group from a “sell” rating to a “strong sell” rating in a research report on Friday, January 17th. Finally, Zacks Investment Research downgraded shares of Independent Bank Group from a “strong-buy” rating to a “hold” rating and set a $63.00 price target for the company. in a research report on Wednesday, February 12th.

IBTX stock traded down $1.84 on Friday, hitting $54.82. The company’s stock had a trading volume of 350,370 shares, compared to its average volume of 388,738. The firm has a 50 day moving average of $54.46 and a two-hundred day moving average of $54.00. Independent Bank Group has a 1 year low of $47.58 and a 1 year high of $63.16. The stock has a market cap of $2.35 billion, a price-to-earnings ratio of 12.26 and a beta of 1.36. The company has a current ratio of 1.04, a quick ratio of 1.03 and a debt-to-equity ratio of 0.36.

Independent Bank Group (NASDAQ:IBTX) last released its quarterly earnings results on Monday, January 27th. The bank reported $1.32 EPS for the quarter, beating the consensus estimate of $1.29 by $0.03. Independent Bank Group had a net margin of 26.36% and a return on equity of 9.71%. The firm had revenue of $146.30 million during the quarter, compared to the consensus estimate of $141.55 million. As a group, equities analysts forecast that Independent Bank Group will post 5.34 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Monday, February 10th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, February 7th. This represents a $1.00 dividend on an annualized basis and a yield of 1.82%. Independent Bank Group’s payout ratio is currently 19.69%.

In other Independent Bank Group news, Director Mark K. Gormley sold 366,000 shares of the company’s stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $59.08, for a total transaction of $21,623,280.00. Following the completion of the transaction, the director now owns 2,690 shares in the company, valued at approximately $158,925.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Michelle S. Hickox sold 1,900 shares of the company’s stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $60.00, for a total transaction of $114,000.00. Following the transaction, the chief financial officer now owns 24,517 shares of the company’s stock, valued at approximately $1,471,020. The disclosure for this sale can be found here. 10.90% of the stock is currently owned by corporate insiders.

Institutional investors have recently made changes to their positions in the business. Aigen Investment Management LP purchased a new position in shares of Independent Bank Group in the 4th quarter valued at about $44,000. NumerixS Investment Technologies Inc purchased a new position in shares of Independent Bank Group in the 4th quarter valued at about $50,000. CFM Wealth Partners LLC purchased a new position in shares of Independent Bank Group in the 4th quarter valued at about $54,000. Quantbot Technologies LP purchased a new position in shares of Independent Bank Group in the 4th quarter valued at about $87,000. Finally, Islay Capital Management LLC purchased a new position in shares of Independent Bank Group in the 4th quarter valued at about $90,000. Institutional investors own 63.94% of the company’s stock.

Independent Bank Group Company Profile

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 offers various deposit products, including demand deposits, money market accounts, and certificates of deposit.

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