According to Zacks, “Independent Bank Group, Inc. is a bank holding company that conducts its business activities through its subsidiary, Independent Bank. The company offers personal and commercial banking services to businesses, professionals and individuals. Its services includes checking accounts, savings accounts, commercial real estate loans, interim construction loans, loans to professionals, residential first and second mortgage loans , loans to purchase cars, boats and other recreational vehicles. Independent Bank Group, Inc. is headquartered in McKinney, Texas. “
Several other analysts have also commented on the stock. BidaskClub upgraded shares of Independent Bank Group from a strong sell rating to a sell rating in a research report on Thursday, September 12th. ValuEngine upgraded shares of Independent Bank Group from a strong sell rating to a sell rating in a research report on Friday, May 24th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. The company has an average rating of Hold and a consensus target price of $63.00.
Shares of IBTX opened at $53.17 on Wednesday. The company has a current ratio of 1.03, a quick ratio of 1.02 and a debt-to-equity ratio of 0.38. The firm’s 50-day moving average is $50.87 and its two-hundred day moving average is $53.74. Independent Bank Group has a twelve month low of $44.14 and a twelve month high of $69.18. The firm has a market capitalization of $2.35 billion, a P/E ratio of 11.92 and a beta of 1.43.
Independent Bank Group (NASDAQ:IBTX) last issued its earnings results on Monday, July 22nd. The bank reported $1.22 earnings per share for the quarter, missing the consensus estimate of $1.27 by ($0.05). Independent Bank Group had a return on equity of 9.18% and a net margin of 26.06%. The company had revenue of $145.84 million for the quarter, compared to analyst estimates of $138.67 million. Analysts predict that Independent Bank Group will post 5.15 EPS for the current year.
Several hedge funds have recently added to or reduced their stakes in IBTX. Geode Capital Management LLC grew its position in shares of Independent Bank Group by 67.5% in the fourth quarter. Geode Capital Management LLC now owns 401,298 shares of the bank’s stock valued at $18,367,000 after purchasing an additional 161,786 shares during the last quarter. Rhumbline Advisers grew its position in shares of Independent Bank Group by 51.6% in the first quarter. Rhumbline Advisers now owns 45,788 shares of the bank’s stock valued at $2,348,000 after purchasing an additional 15,576 shares during the last quarter. Comerica Bank acquired a new stake in Independent Bank Group during the first quarter worth approximately $1,264,000. California Public Employees Retirement System boosted its position in Independent Bank Group by 559.8% during the first quarter. California Public Employees Retirement System now owns 28,991 shares of the bank’s stock worth $1,487,000 after acquiring an additional 24,597 shares during the last quarter. Finally, Stephens Inc. AR boosted its position in Independent Bank Group by 4.6% during the first quarter. Stephens Inc. AR now owns 5,810 shares of the bank’s stock worth $298,000 after acquiring an additional 254 shares during the last quarter. Institutional investors and hedge funds own 62.48% 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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