Independent Bank Group Inc (NASDAQ:IBTX) has received a consensus recommendation of “Buy” from the nine ratings firms that are currently covering the firm, Marketbeat.com reports. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $72.00.
IBTX has been the topic of several recent analyst reports. BidaskClub raised shares of Independent Bank Group from a “hold” rating to a “buy” rating in a research note on Wednesday, December 20th. Zacks Investment Research upgraded shares of Independent Bank Group from a “hold” rating to a “buy” rating and set a $78.00 price objective for the company in a report on Wednesday, January 10th. Stephens reiterated a “buy” rating on shares of Independent Bank Group in a report on Wednesday, January 31st. Sandler O’Neill reiterated a “buy” rating on shares of Independent Bank Group in a report on Wednesday, January 31st. Finally, SunTrust Banks reiterated a “hold” rating and issued a $75.00 price objective on shares of Independent Bank Group in a report on Tuesday, January 9th.
Shares of Independent Bank Group (NASDAQ IBTX) traded up $1.30 during midday trading on Tuesday, hitting $72.60. The stock had a trading volume of 95,383 shares, compared to its average volume of 125,110. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.03 and a current ratio of 1.04. The firm has a market capitalization of $2,051.31, a P/E ratio of 24.28 and a beta of 1.29. Independent Bank Group has a fifty-two week low of $51.70 and a fifty-two week high of $75.95.
The firm also recently declared a quarterly dividend, which was paid on Thursday, February 22nd. Investors of record on Monday, February 12th were given a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 0.66%. The ex-dividend date of this dividend was Friday, February 9th. This is a positive change from Independent Bank Group’s previous quarterly dividend of $0.10. Independent Bank Group’s dividend payout ratio is 16.05%.
In related news, Vice Chairman Daniel W. Brooks sold 25,000 shares of the stock in a transaction dated Thursday, November 30th. The shares were sold at an average price of $68.30, for a total value of $1,707,500.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 7.70% of the company’s stock.
A number of large investors have recently bought and sold shares of the stock. Comerica Bank bought a new stake in shares of Independent Bank Group during the fourth quarter valued at approximately $219,000. BNP Paribas Arbitrage SA raised its holdings in Independent Bank Group by 54.3% in the third quarter. BNP Paribas Arbitrage SA now owns 2,908 shares of the bank’s stock worth $175,000 after purchasing an additional 1,023 shares during the period. Ellington Management Group LLC acquired a new stake in Independent Bank Group in the fourth quarter worth $203,000. Navellier & Associates Inc acquired a new stake in Independent Bank Group in the fourth quarter worth $212,000. Finally, Virtu KCG Holdings LLC acquired a new stake in Independent Bank Group in the second quarter worth $251,000. 48.61% of the stock is owned by hedge funds and other institutional investors.
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Independent Bank Group Company Profile
Independent Bank Group, Inc is a bank holding company. Through the Company’s subsidiary, Independent Bank (the Bank), the Company provides a range of commercial banking products and services tailored to meet the needs of businesses, professionals and individuals. As of December 31, 2016, the Company operated 41 banking offices in the Dallas/North Texas area, the Austin/Central Texas area, and the Houston metropolitan area.
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