Independent Bank Group (NASDAQ:IBTX) was upgraded by investment analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a research note issued on Friday.

A number of other research firms have also recently commented on IBTX. Zacks Investment Research cut Independent Bank Group from a “hold” rating to a “sell” rating in a research report on Wednesday, December 26th. Raymond James cut Independent Bank Group from a “strong-buy” rating to an “outperform” rating and cut their target price for the stock from $72.00 to $61.00 in a research report on Monday, January 7th. Stephens set a $61.00 target price on Independent Bank Group and gave the stock a “buy” rating in a research report on Thursday, December 27th. Finally, ValuEngine cut Independent Bank Group from a “sell” rating to a “strong sell” rating in a research report on Wednesday, March 20th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $68.20.

IBTX opened at $51.62 on Friday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.03 and a current ratio of 1.03. Independent Bank Group has a one year low of $44.14 and a one year high of $79.00. The stock has a market cap of $2.22 billion, a PE ratio of 11.57 and a beta of 1.48.

Independent Bank Group (NASDAQ:IBTX) last posted its earnings results on Monday, January 28th. The bank reported $1.12 EPS for the quarter, missing the Zacks’ consensus estimate of $1.21 by ($0.09). Independent Bank Group had a return on equity of 8.72% and a net margin of 28.53%. The firm had revenue of $97.00 million for the quarter, compared to analyst estimates of $98.47 million. During the same quarter last year, the firm posted $0.90 EPS. As a group, equities research analysts anticipate that Independent Bank Group will post 5.18 EPS for the current year.

In related news, Director Paul W. Taylor sold 12,667 shares of the business’s stock in a transaction dated Thursday, January 31st. The stock was sold at an average price of $52.88, for a total value of $669,830.96. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Paul W. Taylor sold 5,000 shares of the business’s stock in a transaction dated Thursday, February 21st. The shares were sold at an average price of $57.22, for a total value of $286,100.00. Following the completion of the transaction, the director now owns 36,229 shares in the company, valued at approximately $2,073,023.38. The disclosure for this sale can be found here. Insiders own 10.90% of the company’s stock.

A number of hedge funds have recently modified their holdings of IBTX. MUFG Securities EMEA plc purchased a new stake in shares of Independent Bank Group during the 4th quarter worth approximately $3,378,000. Geode Capital Management LLC lifted its stake in Independent Bank Group by 67.5% in the 4th quarter. Geode Capital Management LLC now owns 401,298 shares of the bank’s stock valued at $18,367,000 after buying an additional 161,786 shares in the last quarter. Norges Bank purchased a new stake in Independent Bank Group in the 4th quarter valued at approximately $9,889,000. Macquarie Group Ltd. lifted its stake in Independent Bank Group by 10.0% in the 4th quarter. Macquarie Group Ltd. now owns 912,451 shares of the bank’s stock valued at $41,763,000 after buying an additional 82,971 shares in the last quarter. Finally, Legal & General Group Plc lifted its stake in Independent Bank Group by 4.9% in the 4th quarter. Legal & General Group Plc now owns 8,027 shares of the bank’s stock valued at $367,000 after buying an additional 374 shares in the last quarter. Hedge funds and other institutional investors own 47.35% of the company’s stock.

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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