Independent Bank Group (NASDAQ:IBTX) was upgraded by research analysts at ValuEngine from a “strong sell” rating to a “sell” rating in a report released on Friday, ValuEngine reports.

A number of other analysts have also recently issued reports on IBTX. BidaskClub raised Independent Bank Group from a “strong sell” rating to a “sell” rating in a research note on Tuesday, January 29th. Zacks Investment Research raised Independent Bank Group from a “strong sell” rating to a “hold” rating in a research note on Saturday, February 2nd. Finally, Stephens set a $69.00 target price on Independent Bank Group and gave the stock a “buy” rating in a research note on Tuesday, April 23rd. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the stock. Independent Bank Group currently has a consensus rating of “Hold” and a consensus price target of $66.40.

NASDAQ IBTX traded up $0.86 during trading hours on Friday, reaching $53.69. 172,282 shares of the company’s stock were exchanged, compared to its average volume of 227,825. Independent Bank Group has a one year low of $44.14 and a one year high of $77.55. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.01 and a current ratio of 1.01. The stock has a market cap of $2.31 billion, a price-to-earnings ratio of 12.04 and a beta of 1.49.

Independent Bank Group (NASDAQ:IBTX) last posted its earnings results on Monday, April 22nd. The bank reported $1.19 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.19. Independent Bank Group had a return on equity of 8.92% and a net margin of 26.04%. The business had revenue of $138.08 million during the quarter, compared to analysts’ expectations of $137.40 million. On average, analysts predict that Independent Bank Group will post 5.22 EPS for the current year.

In other Independent Bank Group news, Vice Chairman Brian E. Hobart purchased 1,790 shares of the firm’s stock in a transaction dated Thursday, April 25th. The stock was bought at an average cost of $55.90 per share, with a total value of $100,061.00. Following the purchase, the insider now directly owns 132,375 shares of the company’s stock, valued at $7,399,762.50. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Paul W. Taylor sold 5,300 shares of the firm’s stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $56.79, for a total transaction of $300,987.00. Following the transaction, the director now directly owns 30,929 shares of the company’s stock, valued at $1,756,457.91. The disclosure for this sale can be found here. 10.90% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently modified their holdings of the company. Sapphire Star Partners LP grew its stake in shares of Independent Bank Group by 2.7% during the 4th quarter. Sapphire Star Partners LP now owns 9,800 shares of the bank’s stock worth $448,000 after acquiring an additional 253 shares in the last quarter. Stephens Inc. AR grew its stake in shares of Independent Bank Group by 4.6% during the 1st quarter. Stephens Inc. AR now owns 5,810 shares of the bank’s stock worth $298,000 after acquiring an additional 254 shares in the last quarter. Legal & General Group Plc grew its stake in shares of Independent Bank Group by 4.9% during the 4th quarter. Legal & General Group Plc now owns 8,027 shares of the bank’s stock worth $367,000 after acquiring an additional 374 shares in the last quarter. Bank of Montreal Can grew its stake in shares of Independent Bank Group by 64.7% during the 4th quarter. Bank of Montreal Can now owns 1,130 shares of the bank’s stock worth $52,000 after acquiring an additional 444 shares in the last quarter. Finally, Bank of America Corp DE grew its stake in shares of Independent Bank Group by 0.5% during the 4th quarter. Bank of America Corp DE now owns 117,398 shares of the bank’s stock worth $5,372,000 after acquiring an additional 536 shares in the last quarter. 56.62% of the stock is owned by institutional investors.

Independent Bank Group 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 offers various deposit products, including demand deposits, money market accounts, and certificates of deposit.

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