Several other research firms have also issued reports on IBTX. ValuEngine raised shares of Independent Bank Group from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. SunTrust Banks lowered their target price on shares of Independent Bank Group from $61.00 to $60.00 and set a “hold” rating on the stock in a research note on Thursday, October 3rd. Finally, Zacks Investment Research lowered shares of Independent Bank Group from a “hold” rating to a “sell” rating in a research note on Thursday. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. Independent Bank Group currently has a consensus rating of “Hold” and an average price target of $62.00.
NASDAQ:IBTX traded up $0.01 during mid-day trading on Friday, hitting $50.93. The company’s stock had a trading volume of 162,993 shares, compared to its average volume of 217,947. The business’s fifty day moving average is $51.35 and its two-hundred day moving average is $53.43. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.03 and a quick ratio of 1.02. Independent Bank Group has a 1 year low of $44.14 and a 1 year high of $64.87. The stock has a market cap of $2.22 billion, a price-to-earnings ratio of 11.42 and a beta of 1.43.
Independent Bank Group (NASDAQ:IBTX) last posted its earnings results on Monday, July 22nd. The bank reported $1.22 earnings per share (EPS) 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 firm had revenue of $145.84 million for the quarter, compared to analysts’ expectations of $138.67 million. Analysts anticipate that Independent Bank Group will post 5.11 EPS for the current fiscal year.
Hedge funds have recently bought and sold shares of the company. Comerica Bank boosted its stake in shares of Independent Bank Group by 8.7% during the 2nd quarter. Comerica Bank now owns 25,099 shares of the bank’s stock worth $1,382,000 after acquiring an additional 2,008 shares in the last quarter. Parametric Portfolio Associates LLC raised its position in shares of Independent Bank Group by 28.6% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 17,541 shares of the bank’s stock worth $964,000 after purchasing an additional 3,900 shares during the last quarter. Prudential Financial Inc. raised its position in shares of Independent Bank Group by 12.8% during the 2nd quarter. Prudential Financial Inc. now owns 190,436 shares of the bank’s stock worth $10,466,000 after purchasing an additional 21,550 shares during the last quarter. Keeley Teton Advisors LLC raised its position in shares of Independent Bank Group by 286.2% during the 2nd quarter. Keeley Teton Advisors LLC now owns 94,134 shares of the bank’s stock worth $5,174,000 after purchasing an additional 69,757 shares during the last quarter. Finally, Covenant Multifamily Offices LLC acquired a new position in shares of Independent Bank Group during the 2nd quarter worth about $1,694,000. 62.48% of the stock is currently owned by institutional investors and hedge funds.
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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