Recent extremely meaningful positive changes in investment behavior have benefitted Independent Bank Group Inc (NASDAQ: IBTX): its longer term price trend turned up, the stock’s recent price rise disrupted its longer term downtrend, positive upside/downside volume developed, and its shorter term price trend turned up.
In light of these very positive signals we are reviewing our current Overall Rating of B. We would continue to view the shares with optimism pending completion of this review in the next several days.
Current PriceTarget Research Rating
Reflecting future returns on capital that are forecasted to be above the cost of capital, IBTX is expected to continue to be a modest Value Builder.
Independent Bank Group has a current Value Trend Rating of B (Positive). With this rating, PTR’s two proprietary measures of a stock’s current attractiveness are providing inconsistent signals. Independent Bank Group has a neutral Power Rating of 51 but a good Appreciation Score of 82, and the Positive Value Trend Rating results.
Recent Price Action
On 5/22/24, Independent Bank Group Inc (NASDAQ: IBTX) stock declined slightly by -0.3%, closing at $46.67. Moreover, unusually high trading volume at 193% of normal accompanied the decline. The stock has performed in line with the market over the last nine months and has risen 11.7% during the last week.
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