On Jan. 04, Brooks David R divested U.S. $1,879,009 in shares of Independent Bank Group Inc.. The COB, CEO, Pres sold 30,000 shares at a price per share of $62.63. The transaction decreased this specific insider’s holdings to 919,077 shares worth around $62.96 million at present.
Truist launched its Independent Bank Group Inc. [IBTX] rating to the equivalent of a Buy and assigned the price target of $75, in a research note dated December 18, 2020. That figure represents around a 8.67% premium from where the company’s shares closed on Wednesday. Some new analysts also started their coverage, with Truist’s analysts assigning the shares to “a Buy” rating in a research note to investors issued in mid December. Meanwhile, Raymond James had lowered its rating on IBTX to “Mkt perform” from the earlier “an Outperform”, in a research note produced for clients October 06, 2020. In addition, there was an upgrade from Hovde Group on May 27, 2020. The rater changed IBTX from “a Market perform” to “an Outperform”.
Is Independent Bank Group Inc. [NASDAQ:IBTX] a Good Buy Right Now?
It should be noted that IBTX technical indicators for short, intermediate as well as long term progress have placed an overall average of 100% as Buy. The average signal changed from 100% Buy in the last week and compares with 100% Buy in the past month. Data from Independent Bank Group Inc.’s Trend Spotter indicated that the signals were Strongest. The stock current average is 0.23 million shares in the past 20 days and the short term average signal indicates a 100% Buy. In the last 50 days, the average trading volume was 0.23 million shares while the medium term average advocated for 100% Buy. The average long-term signal stands at 100% Buy and the 100-day average volume stands at 0.24 million shares.
IBTX Price Performance
On Wall Street, Independent Bank Group Inc. [NASDAQ:IBTX] finished Wednesday’s session up 9.67% at $68.50. The stock went up to $68.70 at the same session while its lowest single day price was $63.80. In the last five days, it saw a rise of about 11.06%, Independent Bank Group Inc. shares gained by almost 9.56% since the beginning of the year. However, the share price has dropped to as low as 6.14% below its one year high. On 01/06/21, the company shares recorded $68.70, the highest single-day price it has got to in the last 52-weeks and a 52-week low was seen on 01/04/21, the same year at $60.47. The company’s shares have inclined by 24.86% in the past year. The 50-day SMA achieved is $58.28 while the 200-day SMA is $43.74. Volume gained to 0.45 million from 0.42 million in the previous session.
Independent Bank Group Inc. [IBTX] Valuation Measures
Notably, Independent Bank Group Inc. [IBTX] stock cannot be classified as a good candidate in the listing of underestimated low-priced Banks – Regional companies to purchase soonest possible with the prevailing 12-month PE ratio of 15.28. The measure means the stock is exchanging at a premium as compared to the 11.44x trailing earnings of the industry. It can be helpful for investors to consider historical price-sales ratio, more specifically, a 4.73 PS value ratio is reported for the last one year of reported earnings. That is higher than the industry average of 2.36 which means IBTX serve an unattractive investment opportunity compared to its competitors.
IBTX Stock Support And Resistance Levels
On the 24-hour scale, the immediate backing is perceived around 65.30 level, and in case of violation of this particular level, it will cause more drop to 62.10 level. On the upper level, 71.90 is still the key resistance. The stock may increase to the subsequent resistance at 70.20. The Relative Strength Index (RSI) pinned on the 14-day chart is 75.99, implying a overbought technical stance while the MACD stands at 1.64, meaning price will increase in the next trading period. Percent R indicator moved to 2.43%, implying bullish price movement. Stochastic %K at 63.29% suggest holding the stock.
What is the short interest in Independent Bank Group Inc.?
Short interest in the Independent Bank Group Inc. stock has surged, increasing by 60000.0 shares to total 1.48 million shares on Dec 14, 2020. The interest had seen shares on Nov 12, 2020 stand at 1.54 million, data from Yahoo Finance shows. The decrease of -4.05% suggests the stock saw some decreased bullish sentiment. The stock’s days to cover (short ratio) moved to while the shorted shares account for just 4.73% of the overall float for the stock.
Independent Bank Group Inc.’s Biggest Shareholders: Who Owns Independent Bank Group Inc. [IBTX]?
Filings by BlackRock Fund Advisors showed that the firm now holds a total of 5,030,101 shares or roughly 11.63% of the outstanding IBTX shares. This means their shares have reduced by -155,556 from the 5,030,101 the investor reportedly held in its prior 13-F filing. With the conclusion of the sale, The Vanguard Group, Inc. updated stake is worth $204,920,902. Details in the latest 13F filings reveal that Dimensional Fund Advisors LP acquired their 2.36% stake valued at $151,154,336 while SSgA Funds Management, Inc. cut theirs at $87,141,916. During the last quarter, Dimensional Fund Advisors LP raised 62,231 of its shares in Independent Bank Group Inc. while SSgA Funds Management, Inc. sold -395,485 shares. The FJ Capital Management LLC’s holdings currently number 1,384,000 shares at $94804000.0. According to the firm’s last 13F report, T. Rowe Price Associates, Inc. shares in the company at filing stood at 1,124,084 shares, roughly $63,072,353.
IBTX Earnings Forecast For The Current Quarter
Independent Bank Group Inc. [IBTX] is expected to report strong earnings results for the quarter ending on Dec 2020. Consensus estimates give the company expected revenues of $152.08M and an earnings per share of $1.33 for Dec 2020. Looking further ahead, the company is expected to report revenue of $149.7M at an EPS of $1.29 for Mar 2021. The estimates represent upside of -2.60% and 2.71% in the company’s revenue and earnings per share, respectively, on a year-on-year basis.
IBTX Earnings Estimates For The Current Year
For the financial year, Independent Bank Group Inc. [NASDAQ:IBTX] is expected to bring in revenue of $596.79M. The returns are nearly $13.86 million higher than the company’s actual revenue recorded in the fiscal year 2019. In terms of EPS for the 2020, estimate put it at 4.65, higher than that of FY19 by $0.18. Estimates put this year’s earnings growth at 4.00%, 3.00% for the next, and at an annual 10.00% over the next 5-year period. As for sales, forecasts are for an increase of 2.40% in the current fiscal year and a further -2.60% over the following year.
What are analyst thoughts on Independent Bank Group Inc.?
Looking forward to the Independent Bank Group Inc. share price prediction, we can see that analysts, surveyed by FactSet, offer the mean price target for Independent Bank Group Inc. stock at $67.50 within the next 12 months, which represents almost -1.48 per cent growth from its previous closing price of $68.50. The highest analysts’ target for Independent Bank Group Inc. stock projections is $75.00 and the lowest one is $63.00. Still, 7 analysts sharing their consensus rating for IBTX stock in 2021 agree that it is a Buy.