The stock of Independent Bank Group Inc. (NASDAQ:IBTX) last traded at $50.07, up 4.20% from the previous session.
Data from the available sources indicates that Independent Bank Group Inc. (NASDAQ:IBTX) is covered by 7 analysts. The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $72.00 and a low of $64.00, we find $65.50. Given the previous closing price of $48.05, this indicates a potential upside of 36.32 percent. IBTX stock price is now -15.41% away from the 50-day moving average and -22.81% away from the 200-day moving average. The market capitalization of the company currently stands at $2.04B.
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In total, 3 analysts have assigned it a hold rating, and 4 have given it a buy rating. Brokers who have rated the stock have averaged $67.00 as their price target over the next twelve months.
With the price target reduced from $82.50 to $70, Hovde Group Downgraded its rating from Outperform to Market Perform for Independent Bank Group Inc. (NASDAQ: IBTX)., while ‘Truist’ rates the stock as ‘Buy’.
In other news, Hobbs Michael B, EVP, President and COO sold 1,350 shares of the company’s stock on Aug 17. The stock was sold for $100,927 at an average price of $74.76. Upon completion of the transaction, the EVP, President and COO now directly owns 31,308 shares in the company, valued at $1.57 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Aug 12, Director Jennings John Webb III sold 8,939 shares of the business’s stock. A total of $662,647 was realized by selling the stock at an average price of $74.13. Insiders disposed of 383,182 shares of company stock worth roughly $19.19 million over the past 1 year. A total of 1.60% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in IBTX stock. A new stake in Independent Bank Group Inc. shares was purchased by AMALGAMATED FINANCIAL CORP. during the first quarter worth $835,000. CAMBRIDGE INVESTMENT RESEARCH ADVISORS, INC. invested $794,000 in shares of IBTX during the first quarter. In the first quarter, MARYLAND STATE RETIREMENT & PENSION SYSTEM acquired a new stake in Independent Bank Group Inc. valued at approximately $733,000. SUSQUEHANNA FUNDAMENTAL INVESTMENTS, LLC acquired a new stake in IBTX for approximately $566,000. CFO4LIFE, L.P. purchased a new stake in IBTX valued at around $407,000 in the second quarter. In total, there are 282 active investors with 78.00% ownership of the company’s stock.
With an opening price of $47.42 on Thursday morning, Independent Bank Group Inc. (NASDAQ: IBTX) set off the trading day. During the past 12 months, Independent Bank Group Inc. has had a low of $44.57 and a high of $78.85. The fifty day moving average price for IBTX is $59.19 and a two-hundred day moving average price translates $64.87 for the stock.
The latest earnings results from Independent Bank Group Inc. (NASDAQ: IBTX) was released for Dec, 2022. According to the Banks – Regional Company, earnings per share came in at $1.2, missing analysts’ expectations of $1.28 by -0.08. This compares to $1.26 EPS in the same period last year. The net profit margin was 29.70% and return on equity was 8.10% for IBTX. The company reported revenue of $189.77 million for the quarter, compared to $145.95 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 30.02 percent. For the current quarter, analysts expect IBTX to generate $152.55M in revenue.
Moreover, the firm recently paid out its quarterly dividend on 02/16/2023. Investors who held shares on 02/06/2023 were paid a $0.38 dividend. On an annualized basis, this represents a $1.52 dividend and a 3.04% percent yield. There was an ex-dividend date of 02/03/2023 for this dividend. In terms of dividend payout ratio, IBTX is presently at 32.30%.
Independent Bank Group Inc.(IBTX) 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 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.
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