Shares of Independent Bank Group, Inc. (NASDAQ:IBTX – Get Free Report) have received a consensus rating of “Moderate Buy” from the five research firms that are covering the firm, Marketbeat reports. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $50.40.
A number of analysts have recently weighed in on the stock. Stephens reiterated an “overweight” rating and issued a $41.00 price objective on shares of Independent Bank Group in a research note on Tuesday, July 25th. Piper Sandler reiterated a “neutral” rating and issued a $44.00 price objective (up previously from $40.00) on shares of Independent Bank Group in a research note on Wednesday, July 26th. Keefe, Bruyette & Woods dropped their price target on shares of Independent Bank Group from $60.00 to $50.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 25th. Truist Financial raised their price target on shares of Independent Bank Group from $40.00 to $47.00 and gave the company a “buy” rating in a research report on Wednesday, July 26th. Finally, StockNews.com upgraded shares of Independent Bank Group to a “sell” rating in a research report on Friday.
Read Our Latest Stock Report on IBTX
Independent Bank Group Trading Up 1.6 %
Independent Bank Group (NASDAQ:IBTX – Get Free Report) last released its quarterly earnings data on Tuesday, July 25th. The bank reported $0.82 earnings per share for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.08). The business had revenue of $127.70 million during the quarter, compared to analyst estimates of $139.17 million. Independent Bank Group had a return on equity of 7.71% and a net margin of 10.68%. The firm’s revenue was down 22.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.27 EPS. On average, analysts forecast that Independent Bank Group will post 3.31 earnings per share for the current year.
Independent Bank Group Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Thursday, August 17th. Stockholders of record on Thursday, August 3rd were paid a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 3.64%. The ex-dividend date was Wednesday, August 2nd. Independent Bank Group’s dividend payout ratio is currently 70.70%.
Hedge Funds Weigh In On Independent Bank Group
Several hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. lifted its stake in shares of Independent Bank Group by 1.4% in the first quarter. Vanguard Group Inc. now owns 4,139,668 shares of the bank’s stock worth $294,579,000 after buying an additional 57,283 shares in the last quarter. Capital Research Global Investors lifted its stake in shares of Independent Bank Group by 23.4% in the first quarter. Capital Research Global Investors now owns 3,042,982 shares of the bank’s stock worth $216,539,000 after buying an additional 576,836 shares in the last quarter. FMR LLC lifted its stake in shares of Independent Bank Group by 13.9% in the first quarter. FMR LLC now owns 2,646,666 shares of the bank’s stock worth $122,673,000 after buying an additional 323,183 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Independent Bank Group by 2.4% in the first quarter. Dimensional Fund Advisors LP now owns 2,638,029 shares of the bank’s stock worth $122,271,000 after buying an additional 62,562 shares in the last quarter. Finally, State Street Corp lifted its stake in shares of Independent Bank Group by 18.5% in the second quarter. State Street Corp now owns 2,002,249 shares of the bank’s stock worth $69,138,000 after buying an additional 313,039 shares in the last quarter. 74.74% of the stock is owned by hedge funds and other institutional investors.
About Independent Bank Group
Independent Bank Group, Inc, through its subsidiary, Independent Bank 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.
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