Independent Bank Group Inc (NASDAQ:IBTX) – Equities research analysts at Piper Sandler raised their Q3 2020 earnings per share estimates for Independent Bank Group in a report released on Tuesday, July 28th. Piper Sandler analyst B. Milsaps now anticipates that the bank will earn $0.95 per share for the quarter, up from their prior estimate of $0.93. Piper Sandler has a “Overweight” rating and a $40.00 price target on the stock. Piper Sandler also issued estimates for Independent Bank Group’s Q4 2020 earnings at $0.99 EPS, FY2020 earnings at $4.07 EPS, Q2 2021 earnings at $0.91 EPS and FY2021 earnings at $3.85 EPS.
A number of other research firms have also recently commented on IBTX. Raymond James raised shares of Independent Bank Group from a “market perform” rating to an “outperform” rating and set a $41.00 target price for the company in a research note on Tuesday, May 26th. SunTrust Banks increased their target price on shares of Independent Bank Group from $29.00 to $35.00 and gave the stock a “hold” rating in a report on Tuesday, May 19th. BidaskClub raised shares of Independent Bank Group from a “sell” rating to a “hold” rating in a research report on Saturday, May 30th. ValuEngine raised shares of Independent Bank Group from a “sell” rating to a “hold” rating in a research report on Tuesday, July 7th. Finally, Hovde Group raised shares of Independent Bank Group from a “market perform” rating to an “outperform” rating and dropped their target price for the company from $59.00 to $42.00 in a research report on Wednesday, May 27th. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $44.33.
NASDAQ IBTX opened at $43.93 on Friday. The company has a fifty day moving average of $40.28 and a 200 day moving average of $38.90. The company has a market capitalization of $1.89 billion, a PE ratio of 9.35 and a beta of 1.97. Independent Bank Group has a 1 year low of $20.35 and a 1 year high of $63.16. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.07 and a quick ratio of 1.07.
Independent Bank Group (NASDAQ:IBTX) last issued its quarterly earnings data on Tuesday, July 28th. The bank reported $1.14 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.89 by $0.25. Independent Bank Group had a net margin of 26.11% and a return on equity of 8.76%. The company had revenue of $153.75 million for the quarter, compared to analyst estimates of $141.77 million. During the same period last year, the company posted $1.22 earnings per share.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Comerica Bank lifted its stake in Independent Bank Group by 85.5% during the second quarter. Comerica Bank now owns 87,704 shares of the bank’s stock valued at $3,627,000 after buying an additional 40,412 shares in the last quarter. Monarch Partners Asset Management LLC acquired a new position in Independent Bank Group during the second quarter valued at approximately $5,510,000. UBS Group AG grew its holdings in Independent Bank Group by 41.5% during the second quarter. UBS Group AG now owns 31,039 shares of the bank’s stock valued at $1,258,000 after purchasing an additional 9,110 shares during the last quarter. Peregrine Capital Management LLC acquired a new position in Independent Bank Group during the second quarter valued at approximately $4,915,000. Finally, Chartwell Investment Partners LLC boosted its position in shares of Independent Bank Group by 3.9% in the second quarter. Chartwell Investment Partners LLC now owns 283,812 shares of the bank’s stock valued at $11,500,000 after acquiring an additional 10,577 shares during the period. Hedge funds and other institutional investors own 69.82% of the company’s stock.
The company also recently declared a quarterly dividend, which will be paid on Thursday, August 20th. Stockholders of record on Monday, August 10th will be given a dividend of $0.25 per share. The ex-dividend date is Friday, August 7th. This represents a $1.00 annualized dividend and a dividend yield of 2.28%. Independent Bank Group’s dividend payout ratio is currently 19.69%.
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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