BidaskClub downgraded shares of Independent Bank Group (NASDAQ:IBTX) from a sell rating to a strong sell rating in a research note issued to investors on Thursday morning.

Several other research firms have also recently issued reports on IBTX. Zacks Investment Research raised shares of Independent Bank Group from a sell rating to a hold rating in a report on Friday, May 18th. ValuEngine cut shares of Independent Bank Group from a buy rating to a hold rating in a report on Friday, June 8th. Stephens reissued a buy rating and set a $86.00 price target on shares of Independent Bank Group in a report on Tuesday, July 24th. Finally, Hovde Group set a $80.00 price target on shares of Independent Bank Group and gave the stock a buy rating in a report on Wednesday, July 25th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the company. The stock currently has an average rating of Hold and an average price target of $78.00.

NASDAQ IBTX traded up $0.40 during trading hours on Thursday, hitting $65.60. 1,303 shares of the stock were exchanged, compared to its average volume of 194,917. The stock has a market capitalization of $2.01 billion, a P/E ratio of 18.90 and a beta of 1.24. Independent Bank Group has a 12-month low of $51.70 and a 12-month high of $79.00. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.60.

Independent Bank Group (NASDAQ:IBTX) last posted its quarterly earnings results on Monday, July 23rd. The bank reported $1.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.14 by ($0.03). The firm had revenue of $89.04 million for the quarter, compared to analysts’ expectations of $90.43 million. Independent Bank Group had a return on equity of 8.10% and a net margin of 25.16%. During the same period in the prior year, the company earned $0.82 earnings per share. equities research analysts expect that Independent Bank Group will post 4.57 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Thursday, August 16th. Shareholders of record on Monday, August 6th were given a dividend of $0.14 per share. The ex-dividend date was Friday, August 3rd. This represents a $0.56 annualized dividend and a yield of 0.85%. Independent Bank Group’s payout ratio is currently 16.23%.

In related news, Director G Stacy Smith bought 10,000 shares of the stock in a transaction on Friday, July 27th. The shares were bought at an average cost of $68.56 per share, for a total transaction of $685,600.00. Following the completion of the transaction, the director now owns 89,974 shares of the company’s stock, valued at approximately $6,168,617.44. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 10.90% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the business. Rhumbline Advisers grew its position in shares of Independent Bank Group by 11.7% in the first quarter. Rhumbline Advisers now owns 19,263 shares of the bank’s stock valued at $1,362,000 after purchasing an additional 2,025 shares during the last quarter. Victory Capital Management Inc. grew its position in shares of Independent Bank Group by 5,284.0% in the first quarter. Victory Capital Management Inc. now owns 174,980 shares of the bank’s stock valued at $12,371,000 after purchasing an additional 171,730 shares during the last quarter. Swiss National Bank grew its position in shares of Independent Bank Group by 4.2% in the first quarter. Swiss National Bank now owns 27,052 shares of the bank’s stock valued at $1,913,000 after purchasing an additional 1,100 shares during the last quarter. Schwab Charles Investment Management Inc. grew its position in shares of Independent Bank Group by 4.7% in the first quarter. Schwab Charles Investment Management Inc. now owns 92,988 shares of the bank’s stock valued at $6,575,000 after purchasing an additional 4,158 shares during the last quarter. Finally, American International Group Inc. grew its position in shares of Independent Bank Group by 7.0% in the first quarter. American International Group Inc. now owns 12,730 shares of the bank’s stock valued at $900,000 after purchasing an additional 834 shares during the last quarter. Institutional investors own 57.20% of the company’s stock.

Independent Bank Group Company Profile

Independent Bank Group, Inc operates as the bank holding company for Independent Bank that provides a range of commercial banking products and services to businesses, professionals, and individuals in the United States. It offers various deposit products, including checking and savings accounts, demand accounts, money market accounts, and certificates of deposit, as well as individual retirement accounts.

Featured Article: What are the Different Types of Leveraged Buyouts?

Analyst Recommendations for Independent Bank Group (NASDAQ:IBTX)

Receive News & Ratings for Independent Bank Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Independent Bank Group and related companies with MarketBeat.com's FREE daily email newsletter.