Independent Bank Group Inc [NASDAQ: IBTX] loss -2.93% on the last trading session, reaching $45.78 price per share at the time. The company report on January 22, 2024 at 5:00 PM that Independent Bank Group, Inc. Reports Fourth Quarter Financial Results and Declares Quarterly Dividend.
Independent Bank Group, Inc. (NASDAQ: IBTX) today announced net income of $14.9 million, or $0.36 per diluted share, for the quarter ended December 31, 2023, compared to $32.8 million, or $0.79 per diluted share for the quarter ended September 30, 2023. Adjusted net income for the quarter ended December 31, 2023 was $25.5 million, or $0.62 per diluted share, compared to $32.6 million, or $0.79 per diluted share for the quarter ended September 30, 2023.
For the year ended December 31, 2023, the Company reported net income of $43.2 million, or $1.04 per diluted share, compared to $196.3 million, or $4.70 per diluted share, for the year ended December 31, 2022. Adjusted net income was $135.9 million, or $3.29 per diluted share in 2023 compared to $209.7 million, or $5.02 per diluted share in 2022.
If compared to the average trading volume of 247.33K shares, IBTX reached a trading volume of 163686 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying about Independent Bank Group Inc [IBTX]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for IBTX shares is $56.00 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on IBTX stock is a recommendation set at 2.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Raymond James have made an estimate for Independent Bank Group Inc shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on January 05, 2024.
The Average True Range (ATR) for Independent Bank Group Inc is set at 1.85, with the Price to Sales ratio for IBTX stock in the period of the last 12 months amounting to 2.05. The Price to Book ratio for the last quarter was 0.79. Price to Free Cash Flow for IBTX in the course of the last twelve months was 12.79.
Trading performance analysis for IBTX stock
Independent Bank Group Inc [IBTX] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 1.02. With this latest performance, IBTX shares dropped by -7.74% in over the last four-week period, additionally plugging by 7.62% over the last 6 months – not to mention a drop of -26.66% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for IBTX stock in for the last two-week period is set at 44.61, with the RSI for the last a single of trading hit 44.63, and the three-weeks RSI is set at 46.34 for Independent Bank Group Inc [IBTX]. The present Moving Average for the last 50 days of trading for this stock 48.53, while it was recorded at 45.81 for the last single week of trading, and 40.87 for the last 200 days.
Independent Bank Group Inc [IBTX]: A deeper dive into fundamental analysis
Independent Bank Group Inc’s liquidity data is similarly interesting compelling, with a Current Ratio set at 0.21.
Independent Bank Group Inc [IBTX]: An earnings per share (EPS) analysis
With the latest financial reports released by the company, Independent Bank Group Inc posted 1.07/share EPS, while the average EPS was predicted by analysts to be reported at 0.81/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 32.10%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for IBTX. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Independent Bank Group Inc go to 10.00%.
An analysis of Institutional ownership at Independent Bank Group Inc [IBTX]
The top three institutional holders of IBTX stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in IBTX stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in IBTX stock with ownership which is approximately 5.8325%.
