Independent Bank Group, Inc (NASDAQ:IBTX) has been assigned a consensus rating of “Buy” from the eight ratings firms that are currently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating on the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $71.40.

A number of brokerages have commented on IBTX. BidaskClub cut Independent Bank Group from a “hold” rating to a “sell” rating in a research note on Tuesday, August 22nd. Hovde Group upgraded Independent Bank Group from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $68.00 to $69.00 in a research note on Wednesday, July 26th. Keefe, Bruyette & Woods upgraded Independent Bank Group from a “market perform” rating to an “outperform” rating and set a $71.00 price objective on the stock in a research note on Wednesday, July 26th. Piper Jaffray Companies restated a “buy” rating and set a $76.00 price objective on shares of Independent Bank Group in a research note on Friday, September 1st. Finally, Stephens restated a “buy” rating and set a $71.00 price objective on shares of Independent Bank Group in a research note on Tuesday, July 25th.

Shares of Independent Bank Group (IBTX) traded up $0.85 on Friday, hitting $62.85. The company’s stock had a trading volume of 65,600 shares, compared to its average volume of 100,300. The firm has a market capitalization of $1,724.03, a PE ratio of 18.34 and a beta of 1.29. Independent Bank Group has a 12 month low of $51.70 and a 12 month high of $66.85. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.03 and a current ratio of 1.04.

Independent Bank Group (NASDAQ:IBTX) last issued its quarterly earnings data on Monday, October 23rd. The bank reported $0.89 EPS for the quarter, topping the Zacks’ consensus estimate of $0.88 by $0.01. The company had revenue of $84.99 million for the quarter, compared to analysts’ expectations of $83.00 million. Independent Bank Group had a return on equity of 8.11% and a net margin of 23.46%. During the same quarter in the previous year, the firm posted $0.78 earnings per share. analysts predict that Independent Bank Group will post 3.46 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 16th. Stockholders of record on Monday, November 6th will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.64%. The ex-dividend date is Friday, November 3rd. Independent Bank Group’s payout ratio is 12.90%.

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In other news, Vice Chairman Brian E. Hobart sold 22,500 shares of Independent Bank Group stock in a transaction dated Monday, October 16th. The stock was sold at an average price of $60.71, for a total transaction of $1,365,975.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Vice Chairman Daniel W. Brooks sold 17,397 shares of Independent Bank Group stock in a transaction dated Tuesday, October 24th. The stock was sold at an average price of $62.56, for a total value of $1,088,356.32. Following the sale, the insider now directly owns 142,332 shares in the company, valued at $8,904,289.92. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 62,397 shares of company stock worth $3,858,104. Corporate insiders own 7.70% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the company. BNP Paribas Arbitrage SA increased its position in shares of Independent Bank Group by 2,892.1% during the second quarter. BNP Paribas Arbitrage SA now owns 1,885 shares of the bank’s stock worth $112,000 after acquiring an additional 1,822 shares during the last quarter. Public Employees Retirement System of Ohio increased its position in shares of Independent Bank Group by 16.2% during the first quarter. Public Employees Retirement System of Ohio now owns 2,790 shares of the bank’s stock worth $179,000 after acquiring an additional 389 shares during the last quarter. Virtu KCG Holdings LLC purchased a new stake in shares of Independent Bank Group during the second quarter worth about $251,000. Airain ltd purchased a new stake in shares of Independent Bank Group during the second quarter worth about $256,000. Finally, Legal & General Group Plc increased its position in shares of Independent Bank Group by 66.9% during the second quarter. Legal & General Group Plc now owns 4,472 shares of the bank’s stock worth $266,000 after acquiring an additional 1,792 shares during the last quarter. 46.84% of the stock is currently owned by institutional investors and hedge funds.

About Independent Bank Group

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.

Analyst Recommendations for Independent Bank Group (NASDAQ:IBTX)

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