News articles about Independent Bank Group (NASDAQ:IBTX) have trended positive recently, according to Accern Sentiment Analysis. The research group ranks the sentiment of media coverage by monitoring more than 20 million blog and news sources in real time. Accern ranks coverage of publicly-traded companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. Independent Bank Group earned a news impact score of 0.48 on Accern’s scale. Accern also gave media coverage about the bank an impact score of 45.8195571338497 out of 100, indicating that recent media coverage is somewhat unlikely to have an effect on the stock’s share price in the near future.
Here are some of the media stories that may have impacted Accern’s analysis:
Independent Bank Group (NASDAQ:IBTX) traded up 0.08% during midday trading on Thursday, hitting $64.10. 121,471 shares of the company were exchanged. The stock has a market capitalization of $1.78 billion, a price-to-earnings ratio of 21.41 and a beta of 1.29. Independent Bank Group has a 1-year low of $44.45 and a 1-year high of $66.85. The stock has a 50 day moving average of $59.28 and a 200-day moving average of $59.10.
Independent Bank Group (NASDAQ:IBTX) last announced its quarterly earnings results on Monday, October 23rd. The bank reported $0.89 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.88 by $0.01. Independent Bank Group had a net margin of 23.46% and a return on equity of 9.06%. The firm had revenue of $84.99 million for the quarter, compared to the consensus estimate of $83.00 million. During the same period in the prior year, the firm posted $0.78 earnings per share. Equities analysts expect that Independent Bank Group will post $3.29 earnings per share for the current year.
Several brokerages recently issued reports on IBTX. Stephens restated a “buy” rating and issued a $71.00 target price on shares of Independent Bank Group in a research note on Tuesday, July 25th. Piper Jaffray Companies restated a “buy” rating and issued a $76.00 target price on shares of Independent Bank Group in a research note on Friday, September 1st. Hovde Group upgraded Independent Bank Group from a “market perform” rating to an “outperform” rating and raised their target price for the company from $68.00 to $69.00 in a research note on Wednesday, July 26th. Keefe, Bruyette & Woods upgraded Independent Bank Group from a “market perform” rating to an “outperform” rating and set a $71.00 target price for the company in a research note on Wednesday, July 26th. Finally, BidaskClub downgraded Independent Bank Group from a “hold” rating to a “sell” rating in a research note on Wednesday, July 19th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and six have given a buy rating to the company’s stock. Independent Bank Group presently has a consensus rating of “Buy” and a consensus target price of $71.40.
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In other Independent Bank Group news, Vice Chairman Brian E. Hobart sold 22,500 shares of the company’s stock in a transaction on Monday, October 16th. The shares were sold at an average price of $60.71, for a total transaction of $1,365,975.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Vice Chairman Daniel W. Brooks sold 7,503 shares of the company’s stock in a transaction on Friday, October 13th. The stock was sold at an average price of $60.67, for a total transaction of $455,207.01. The disclosure for this sale can be found here. Insiders have sold 57,897 shares of company stock valued at $3,555,944 over the last 90 days. 7.70% of the stock is currently owned by company insiders.
About Independent Bank Group
Independent Bank Group, Inc is a bank holding company. Through the Company’s subsidiary, Independent Bank (the Bank), the Company provides a range of commercial banking products and services tailored to meet the needs of businesses, professionals and individuals. As of December 31, 2016, the Company operated 41 banking offices in the Dallas/North Texas area, the Austin/Central Texas area, and the Houston metropolitan area.
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