Independent Bank Group Inc. (NASDAQ:IBTX) has been given an average recommendation of “Buy” by the ten analysts that are covering the firm. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $44.10.

Several research analysts have weighed in on IBTX shares. Zacks Investment Research cut Independent Bank Group from a “buy” rating to a “hold” rating in a research report on Wednesday, September 28th. Raymond James Financial Inc. started coverage on Independent Bank Group in a research report on Thursday, July 7th. They issued an “outperform” rating and a $44.00 price objective on the stock. Keefe, Bruyette & Woods boosted their price objective on Independent Bank Group from $40.00 to $47.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 27th. Finally, Hovde Group boosted their price objective on Independent Bank Group from $43.00 to $45.50 and gave the stock a “market perform” rating in a research report on Wednesday, July 27th.

Shares of Independent Bank Group (NASDAQ:IBTX) traded up 0.89% on Friday, hitting $45.55. The company had a trading volume of 37,502 shares. The company has a 50 day moving average price of $44.09 and a 200 day moving average price of $39.30. Independent Bank Group has a 1-year low of $25.50 and a 1-year high of $46.95. The firm has a market capitalization of $841.54 million, a price-to-earnings ratio of 19.24 and a beta of 1.26.

Independent Bank Group (NASDAQ:IBTX) last announced its quarterly earnings results on Monday, July 25th. The company reported $0.74 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.70 by $0.04. Independent Bank Group had a return on equity of 7.64% and a net margin of 20.35%. The business earned $50.81 million during the quarter, compared to the consensus estimate of $50.21 million. The business’s revenue for the quarter was up 21.3% compared to the same quarter last year. On average, equities analysts forecast that Independent Bank Group will post $2.86 earnings per share for the current fiscal year.

In related news, EVP Jan C. Webb sold 5,000 shares of the stock in a transaction dated Wednesday, October 12th. The stock was sold at an average price of $45.00, for a total transaction of $225,000.00. Following the sale, the executive vice president now owns 31,495 shares of the company’s stock, valued at approximately $1,417,275. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Vice Chairman Brian E. Hobart sold 7,500 shares of the stock in a transaction dated Monday, October 3rd. The stock was sold at an average price of $43.46, for a total value of $325,950.00. Following the sale, the insider now directly owns 168,319 shares in the company, valued at approximately $7,315,143.74. The disclosure for this sale can be found here. Insiders own 16.20% of the company’s stock.

Hedge funds have recently modified their holdings of the company. Royal Bank of Canada boosted its stake in shares of Independent Bank Group by 248,550.0% in the second quarter. Royal Bank of Canada now owns 24,865 shares of the company’s stock worth $1,067,000 after buying an additional 24,855 shares during the period. Schwab Charles Investment Management Inc. boosted its stake in shares of Independent Bank Group by 15.8% in the second quarter. Schwab Charles Investment Management Inc. now owns 30,871 shares of the company’s stock worth $1,325,000 after buying an additional 4,220 shares during the period. American Century Companies Inc. bought a new stake in shares of Independent Bank Group during the second quarter worth about $623,000. Metropolitan Life Insurance Co. NY boosted its stake in shares of Independent Bank Group by 37.8% in the second quarter. Metropolitan Life Insurance Co. NY now owns 9,449 shares of the company’s stock worth $405,000 after buying an additional 2,594 shares during the period. Finally, Highbridge Capital Management LLC bought a new stake in shares of Independent Bank Group during the second quarter worth about $405,000. 33.92% of the stock is currently owned by institutional investors and hedge funds.

Independent Bank Group Company Profile

Independent Bank Group, Inc is a bank holding company. Through the Company’s subsidiary, Independent Bank (the Bank), it provides a range of commercial banking products and services tailored to meet the needs of businesses, professionals and individuals. Its commercial lending products include owner-occupied commercial real estate loans, interim construction loans, commercial loans to a mix of small and midsized businesses, and loans to professionals, particularly medical practices.

5 Day Chart for NASDAQ:IBTX

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