Shares of Independent Bank Group Inc (NASDAQ:IBTX) have earned a consensus rating of “Hold” from the seven research firms that are currently covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $68.50.
Several equities analysts have weighed in on IBTX shares. BidaskClub raised Independent Bank Group from a “strong sell” rating to a “sell” rating in a research note on Tuesday, January 29th. ValuEngine raised Independent Bank Group from a “strong sell” rating to a “sell” rating in a research note on Thursday, April 18th. Zacks Investment Research cut Independent Bank Group from a “buy” rating to a “hold” rating in a research note on Friday, April 26th. Finally, Stephens set a $69.00 target price on Independent Bank Group and gave the company a “buy” rating in a research note on Tuesday, April 23rd.
NASDAQ:IBTX opened at $52.52 on Thursday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.01 and a current ratio of 1.01. Independent Bank Group has a fifty-two week low of $44.14 and a fifty-two week high of $79.00. The stock has a market cap of $2.28 billion, a price-to-earnings ratio of 11.78 and a beta of 1.49.
The company also recently declared a quarterly dividend, which will be paid on Thursday, May 16th. Investors of record on Monday, May 6th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Friday, May 3rd. This represents a $1.00 annualized dividend and a dividend yield of 1.90%. Independent Bank Group’s payout ratio is 22.42%.
In related news, Director Paul W. Taylor sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, February 21st. The stock was sold at an average price of $57.22, for a total value of $286,100.00. Following the completion of the sale, the director now owns 36,229 shares of the company’s stock, valued at approximately $2,073,023.38. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Vice Chairman Brian E. Hobart purchased 1,790 shares of the stock in a transaction that occurred on Thursday, April 25th. The stock was purchased at an average cost of $55.90 per share, with a total value of $100,061.00. Following the purchase, the insider now owns 132,375 shares in the company, valued at approximately $7,399,762.50. The disclosure for this purchase can be found here. Insiders own 10.90% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. grew its stake in shares of Independent Bank Group by 48.0% in the 1st quarter. BlackRock Inc. now owns 2,399,449 shares of the bank’s stock valued at $123,066,000 after buying an additional 778,630 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Independent Bank Group by 26.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,221,732 shares of the bank’s stock valued at $113,954,000 after buying an additional 465,429 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Independent Bank Group by 4.0% in the 3rd quarter. Vanguard Group Inc. now owns 1,615,802 shares of the bank’s stock valued at $107,127,000 after buying an additional 61,969 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Independent Bank Group by 9.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,153,742 shares of the bank’s stock valued at $59,175,000 after buying an additional 102,058 shares in the last quarter. Finally, Wellington Management Group LLP grew its stake in shares of Independent Bank Group by 16.1% in the 1st quarter. Wellington Management Group LLP now owns 1,055,920 shares of the bank’s stock valued at $54,158,000 after buying an additional 146,598 shares in the last quarter. 48.07% of the stock is owned by institutional investors and hedge funds.
About Independent Bank Group
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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