Independent Bank Group (IBTX) Cut to Sell at BidaskClub

BidaskClub downgraded shares of Independent Bank Group (NASDAQ:IBTX) from a hold rating to a sell rating in a research report released on Wednesday.

Other equities research analysts also recently issued research reports about the stock. Raymond James dropped their target price on shares of Independent Bank Group from $83.00 to $74.00 and set a positive rating for the company in a research report on Tuesday, October 23rd. They noted that the move was a valuation call. Zacks Investment Research downgraded shares of Independent Bank Group from a hold rating to a sell rating in a research report on Friday, October 26th. Stephens set a $82.00 target price on shares of Independent Bank Group and gave the stock a buy rating in a research report on Tuesday, October 23rd. SunTrust Banks set a $64.00 target price on shares of Independent Bank Group and gave the stock a hold rating in a research report on Wednesday, October 24th. Finally, ValuEngine downgraded shares of Independent Bank Group from a hold rating to a sell rating in a research report on Friday, November 2nd. Three equities research analysts have rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company. Independent Bank Group presently has a consensus rating of Hold and a consensus target price of $75.00.

IBTX opened at $52.37 on Wednesday. The stock has a market capitalization of $1.60 billion, a PE ratio of 15.18 and a beta of 1.21. Independent Bank Group has a 1-year low of $51.61 and a 1-year high of $79.00. The company has a quick ratio of 1.02, a current ratio of 1.03 and a debt-to-equity ratio of 0.33.

Independent Bank Group (NASDAQ:IBTX) last released its earnings results on Monday, October 22nd. The bank reported $1.20 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.20. The company had revenue of $99.02 million during the quarter, compared to the consensus estimate of $96.47 million. Independent Bank Group had a net margin of 26.53% and a return on equity of 8.51%. During the same quarter in the previous year, the firm earned $0.89 EPS. On average, equities analysts expect that Independent Bank Group will post 4.55 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Thursday, November 15th. Stockholders of record on Monday, November 5th were given a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 1.07%. The ex-dividend date of this dividend was Friday, November 2nd. Independent Bank Group’s payout ratio is currently 16.23%.

In related news, CFO Michelle S. Hickox sold 500 shares of the business’s stock in a transaction dated Friday, September 14th. The shares were sold at an average price of $65.72, for a total transaction of $32,860.00. Following the completion of the sale, the chief financial officer now owns 24,036 shares of the company’s stock, valued at approximately $1,579,645.92. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Vice Chairman Brian E. Hobart acquired 1,781 shares of the stock in a transaction that occurred on Tuesday, December 4th. The shares were acquired at an average cost of $56.00 per share, with a total value of $99,736.00. Following the transaction, the insider now owns 122,405 shares in the company, valued at $6,854,680. The disclosure for this purchase can be found here. Insiders bought a total of 34,981 shares of company stock valued at $2,190,244 in the last three months. Insiders own 10.90% of the company’s stock.

Large investors have recently made changes to their positions in the stock. MetLife Investment Advisors LLC grew its position in shares of Independent Bank Group by 16.4% during the 2nd quarter. MetLife Investment Advisors LLC now owns 9,806 shares of the bank’s stock valued at $655,000 after buying an additional 1,383 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of Independent Bank Group by 1.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 106,405 shares of the bank’s stock valued at $7,107,000 after buying an additional 1,590 shares during the last quarter. Schwab Charles Investment Management Inc. grew its position in shares of Independent Bank Group by 10.9% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 103,128 shares of the bank’s stock valued at $6,889,000 after buying an additional 10,140 shares during the last quarter. Trexquant Investment LP bought a new stake in shares of Independent Bank Group during the 2nd quarter valued at about $300,000. Finally, Dimensional Fund Advisors LP grew its position in shares of Independent Bank Group by 25.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,232,159 shares of the bank’s stock valued at $82,309,000 after buying an additional 246,205 shares during the last quarter. 61.06% of the stock is owned by institutional investors and hedge funds.

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.

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Analyst Recommendations for Independent Bank Group (NASDAQ:IBTX)

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