Stephens Maintains Their Buy Rating on Independent Bank Group (IBTX)


Stephens analyst Matt Olney maintained a Buy rating on Independent Bank Group (IBTX) today and set a price target of $67. The company’s shares opened today at $52.95.

Olney wrote:

“We’re optimistic IBTX will experience multiple expansion towards TX peers of 12x upon full deal integration. We maintain our Overweight rating.”

According to TipRanks.com, Olney is a 2-star analyst with an average return of 0.0% and a 46.2% success rate. Olney covers the Financial sector, focusing on stocks such as Spirit Of Texas Bancshares Inc, Business First Bancshares Inc, and Hancock Whitney Corporation.

Independent Bank Group has an analyst consensus of Moderate Buy, with a price target consensus of $68.

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Based on Independent Bank Group’s latest earnings release for the quarter ending March 31, the company reported a quarterly net profit of $36.87 million. In comparison, last year the company had a net profit of $28.69 million.

Based on the recent corporate insider activity of 43 insiders, corporate insider sentiment is neutral on the stock.

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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.

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