In a report released today, Stephen Scouten from Piper Sandler maintained a Hold rating on Independent Bank Group (IBTX – Research Report), with a price target of $44.00. The company’s shares closed yesterday at $36.50.
Scouten covers the Financial sector, focusing on stocks such as Cadence Bank, Hancock Whitney, and Home Bancshares. According to TipRanks, Scouten has an average return of 1.8% and a 45.66% success rate on recommended stocks.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Independent Bank Group with a $46.00 average price target.
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Based on Independent Bank Group’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $127.7 million and a net profit of $33.08 million. In comparison, last year the company earned a revenue of $151.88 million and had a net profit of $52.36 million
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Independent Bank Group (IBTX) Company Description:
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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