Truist Securiti Weighs in on Independent Bank Group Inc’s Q4 2020 Earnings (NASDAQ:IBTX)

Independent Bank Group Inc (NASDAQ:IBTX) – Stock analysts at Truist Securiti upped their Q4 2020 EPS estimates for shares of Independent Bank Group in a report issued on Monday, August 24th. Truist Securiti analyst M. Young now forecasts that the bank will post earnings per share of $1.27 for the quarter, up from their prior estimate of $1.07.

A number of other equities analysts have also recently issued reports on IBTX. SunTrust Banks raised their target price on shares of Independent Bank Group from $29.00 to $35.00 and gave the stock a “hold” rating in a report on Tuesday, May 19th. Piper Sandler cut their price target on Independent Bank Group from $46.00 to $40.00 and set an “overweight” rating on the stock in a report on Wednesday, April 29th. Zacks Investment Research lowered shares of Independent Bank Group from a “buy” rating to a “hold” rating in a research note on Thursday, July 30th. Hovde Group upgraded shares of Independent Bank Group from a “market perform” rating to an “outperform” rating and lowered their price objective for the company from $59.00 to $42.00 in a research note on Wednesday, May 27th. Finally, ValuEngine upgraded shares of Independent Bank Group from a “sell” rating to a “hold” rating in a research note on Tuesday, July 7th. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $44.33.

Shares of NASDAQ IBTX opened at $47.19 on Wednesday. The company has a quick ratio of 1.06, a current ratio of 1.07 and a debt-to-equity ratio of 0.48. The firm’s 50-day moving average price is $43.63 and its two-hundred day moving average price is $38.01. Independent Bank Group has a 52-week low of $20.35 and a 52-week high of $63.16. The stock has a market capitalization of $2.06 billion, a P/E ratio of 9.87 and a beta of 1.96.

Independent Bank Group (NASDAQ:IBTX) last posted its quarterly earnings results on Tuesday, July 28th. The bank reported $1.14 EPS for the quarter, topping the Zacks’ consensus estimate of $0.89 by $0.25. Independent Bank Group had a return on equity of 8.76% and a net margin of 26.11%. The business had revenue of $153.75 million during the quarter, compared to the consensus estimate of $141.77 million. During the same period last year, the firm earned $1.22 earnings per share.

Institutional investors have recently bought and sold shares of the business. Stieven Capital Advisors L.P. grew its position in Independent Bank Group by 152.0% in the first quarter. Stieven Capital Advisors L.P. now owns 364,447 shares of the bank’s stock worth $8,630,000 after buying an additional 219,800 shares during the last quarter. Citigroup Inc. grew its position in Independent Bank Group by 204.6% in the first quarter. Citigroup Inc. now owns 82,914 shares of the bank’s stock worth $1,963,000 after buying an additional 55,691 shares during the last quarter. Wedge Capital Management L L P NC grew its position in Independent Bank Group by 4.4% in the second quarter. Wedge Capital Management L L P NC now owns 163,907 shares of the bank’s stock worth $6,642,000 after buying an additional 6,892 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in Independent Bank Group by 24.1% during the 1st quarter. The Manufacturers Life Insurance Company now owns 184,867 shares of the bank’s stock worth $4,377,000 after purchasing an additional 35,845 shares in the last quarter. Finally, Wellington Management Group LLP purchased a new position in Independent Bank Group during the 1st quarter worth approximately $12,524,000. Hedge funds and other institutional investors own 69.82% of the company’s stock.

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 20th. Shareholders of record on Monday, August 10th were given a $0.25 dividend. The ex-dividend date of this dividend was Friday, August 7th. This represents a $1.00 annualized dividend and a yield of 2.12%. Independent Bank Group’s dividend payout ratio (DPR) is 19.69%.

About Independent Bank Group

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.

Further Reading: What is diluted earnings per share (Diluted EPS)?

Earnings History and Estimates for Independent Bank Group (NASDAQ:IBTX)

Receive News & Ratings for Independent Bank Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Independent Bank Group and related companies with MarketBeat.com's FREE daily email newsletter.