Independent Bank Group, Inc.

NasdaqGS:IBTX Stock Report

Market Cap: US$2.7b

Independent Bank Group Valuation

Is IBTX undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

0/6

Valuation Score 0/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Book vs Peers

  • Price-To-Book vs Industry

  • Price-To-Book vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of IBTX when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: IBTX ($65.49) is trading above our estimate of fair value ($24)

Significantly Below Fair Value: IBTX is trading above our estimate of fair value.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for IBTX?

Key metric: As IBTX is an unprofitable bank we use its Price-To-Book Ratio for relative valuation analysis.

The above table shows the Price to Book ratio for IBTX. This is calculated by dividing IBTX's market cap by their current book value.
What is IBTX's PB Ratio?
PB Ratio1.4x
BookUS$1.95b
Market CapUS$2.71b

Price to Book Ratio vs Peers

How does IBTX's PB Ratio compare to its peers?

The above table shows the PB ratio for IBTX vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PBEstimated GrowthMarket Cap
Peer Average1.4x
HTLF Heartland Financial USA
1.4x26.6%US$2.9b
FBK FB Financial
1.7x24.3%US$2.6b
TOWN TowneBank
1.2x22.1%US$2.7b
PFS Provident Financial Services
1.1x49.6%US$2.8b
IBTX Independent Bank Group
1.4x117.3%US$2.7b

Price-To-Book vs Peers: IBTX is expensive based on its Price-To-Book Ratio (1.4x) compared to the peer average (1.4x).

Price to Book Ratio vs Industry

How does IBTX's PB Ratio compare vs other companies in the US Banks Industry?

4 CompaniesPrice / BookEstimated GrowthMarket Cap
FRCB First Republic Bank
0.002xn/aUS$27.98m
SBNY Signature Bank
0.0003xn/aUS$2.18m
BKES.F Banco Espírito Santo
n/an/aUS$56.01k
BCBH.F Caribbean Investment Holdings
n/an/aUS$132.00
No more companies available in this PB range
IBTX 1.4xIndustry Avg. 1.0xNo. of Companies127PB00.61.21.82.43+
4 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Book vs Industry: IBTX is expensive based on its Price-To-Book Ratio (1.4x) compared to the US Banks industry average (1x).

Price to Book Ratio vs Fair Ratio

What is IBTX's PB Ratio compared to its Fair PB Ratio? This is the expected PB Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

IBTX PB Ratio vs Fair Ratio.
Fair Ratio
Current PB Ratio1.4x
Fair PB Ration/a

Price-To-Book vs Fair Ratio: Insufficient data to calculate IBTX's Price-To-Book Fair Ratio for valuation analysis.

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst IBTX forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentUS$65.49
US$56.40
-13.9%
16.0%US$72.00US$46.00n/a5
Nov ’25US$57.88
US$57.00
-1.5%
13.7%US$69.00US$46.00n/a6
Oct ’25US$55.90
US$57.50
+2.9%
14.4%US$69.00US$46.00n/a6
Sep ’25US$58.22
US$56.83
-2.4%
13.1%US$66.00US$46.00n/a6
Aug ’25US$55.72
US$56.50
+1.4%
13.2%US$66.00US$46.00n/a6
Jul ’25US$45.22
US$49.67
+9.8%
8.1%US$58.00US$46.00n/a6
Jun ’25US$46.04
US$49.67
+7.9%
8.1%US$58.00US$46.00n/a6
May ’25US$37.64
US$46.00
+22.2%
8.6%US$52.00US$38.00n/a7
Apr ’25US$43.97
US$54.43
+23.8%
7.0%US$60.00US$48.00n/a7
Mar ’25US$43.34
US$56.00
+29.2%
4.9%US$60.00US$53.00n/a7
Feb ’25US$46.08
US$56.00
+21.5%
4.9%US$60.00US$53.00n/a7
Jan ’25US$50.88
US$47.00
-7.6%
18.0%US$61.00US$40.00n/a6
Dec ’24US$40.86
US$42.17
+3.2%
5.9%US$46.00US$40.00n/a6
Nov ’24US$34.80
US$42.00
+20.7%
6.3%US$46.00US$39.00US$57.886
Oct ’24US$39.55
US$47.33
+19.7%
5.1%US$51.00US$44.00US$55.906
Sep ’24US$42.16
US$46.83
+11.1%
4.0%US$50.00US$44.00US$58.226
Aug ’24US$44.53
US$46.83
+5.2%
4.0%US$50.00US$44.00US$55.726
Jul ’24US$34.53
US$44.67
+29.4%
16.4%US$60.00US$39.00US$45.226
Jun ’24US$34.57
US$46.50
+34.5%
14.5%US$60.00US$39.00US$46.046
May ’24US$35.72
US$47.17
+32.0%
13.0%US$60.00US$42.00US$37.646
Apr ’24US$46.35
US$63.33
+36.6%
11.2%US$72.00US$53.00US$43.976
Mar ’24US$57.36
US$67.00
+16.8%
4.4%US$72.00US$64.00US$43.346
Feb ’24US$62.06
US$66.50
+7.2%
4.0%US$72.00US$64.00US$46.086
Jan ’24US$60.08
US$71.83
+19.6%
5.1%US$80.00US$70.00US$50.886
Dec ’23US$65.86
US$73.00
+10.8%
4.9%US$80.00US$70.00US$40.866
Nov ’23US$63.84
US$73.00
+14.3%
4.9%US$80.00US$70.00US$34.806

Analyst Forecast: Target price is lower than the current share price.

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