Positive Report for Independent Bank Group from Sandler O’Neill

By Jason Carr

Sandler O’Neill analyst Brad Milsaps upgraded Independent Bank Group (NASDAQ: IBTX) to Buy today and set a price target of $70. The company’s shares opened today at $57.

According to TipRanks.com, Milsaps is a 3-star analyst with an average return of 10.2% and a 76.5% success rate. Milsaps covers the Financial sector, focusing on stocks such as First Financial Bankshares, Capitol Federal Financial, and Allegiance Bancshares Inc.

Currently, the analyst consensus on Independent Bank Group is Moderate Buy and the average price target is $70.67, representing a 24.0% upside.

In a report issued on June 20, Stephens also reiterated a Buy rating on the stock with a $72 price target.

Independent Bank Group’s market cap is currently $1.04B and has a P/E ratio of 18.17. The company has a book value ratio of 1.5078.

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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.