Independent Bank Group, Inc. (NASDAQ:IBTX) Receives $60.60 Average Target Price from Analysts

Independent Bank Group, Inc. (NASDAQ:IBTXGet Free Report) has been assigned a consensus rating of “Moderate Buy” from the five ratings firms that are covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $60.60.

A number of equities analysts have recently issued reports on the stock. StockNews.com began coverage on shares of Independent Bank Group in a research report on Monday. They set a “sell” rating on the stock. Keefe, Bruyette & Woods increased their price target on Independent Bank Group from $72.00 to $81.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. Finally, Truist Financial decreased their price objective on Independent Bank Group from $66.00 to $63.00 and set a “hold” rating for the company in a report on Wednesday, October 23rd.

Check Out Our Latest Analysis on Independent Bank Group

Independent Bank Group Stock Up 0.5 %

Shares of NASDAQ IBTX opened at $60.67 on Tuesday. Independent Bank Group has a 12-month low of $36.47 and a 12-month high of $68.66. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.26. The firm has a market cap of $2.51 billion, a PE ratio of -5.80 and a beta of 1.39. The company’s fifty day simple moving average is $61.89 and its 200 day simple moving average is $59.81.

Hedge Funds Weigh In On Independent Bank Group

Hedge funds have recently added to or reduced their stakes in the stock. Blue Trust Inc. lifted its holdings in shares of Independent Bank Group by 1,576.9% in the third quarter. Blue Trust Inc. now owns 872 shares of the bank’s stock valued at $50,000 after purchasing an additional 820 shares in the last quarter. Vestcor Inc purchased a new stake in Independent Bank Group in the 4th quarter valued at $55,000. Smartleaf Asset Management LLC lifted its stake in Independent Bank Group by 171.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,125 shares of the bank’s stock valued at $68,000 after acquiring an additional 710 shares in the last quarter. Collier Financial purchased a new position in Independent Bank Group during the 4th quarter worth $75,000. Finally, KBC Group NV grew its stake in shares of Independent Bank Group by 38.5% in the 4th quarter. KBC Group NV now owns 1,984 shares of the bank’s stock worth $120,000 after acquiring an additional 552 shares in the last quarter. Institutional investors and hedge funds own 77.90% of the company’s stock.

About Independent Bank Group

(Get Free Report

Independent Bank Group, Inc, through its subsidiary, Independent Bank provides various commercial banking products and services to businesses, professionals, and individuals in the United States. It accepts various deposit products, including checking and savings accounts, demand deposits, money market accounts, and certificates of deposit.

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Analyst Recommendations for Independent Bank Group (NASDAQ:IBTX)

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