In a report released today, Stephen Scouten from Piper Sandler maintained a Buy rating on Independent Bank Group (IBTX – Research Report), with a price target of $40.00. The company’s shares closed yesterday at $42.98.
According to TipRanks, Scouten is a 4-star analyst with an average return of 4.0% and a 51.96% success rate. Scouten covers the Financial sector, focusing on stocks such as Hilltop Holdings, Cadence Bank, and Bank OZK.
Independent Bank Group has an analyst consensus of Strong Buy, with a price target consensus of $46.67.
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Based on Independent Bank Group’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $140.68 million and a GAAP net loss of $37.51 million. In comparison, last year the company earned a revenue of $144.03 million and had a net profit of $47.85 million
Based on the recent corporate insider activity of 51 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of IBTX in relation to earlier this year.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Independent Bank Group, Inc. operates as a bank holding company. It provides a wide range of relationship-driven commercial banking products and services tailored to meet the needs of businesses, professionals, and individual through its subsidiary, Independent Bank. The firm’s services include checking, savings, commercial loans, business services and cash management. The company was founded on September 20, 2002 and is headquartered in McKinney, TX.
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