Independent Bank Group Inc (NASDAQ:IBTX) – Stock analysts at SunTrust Banks lowered their Q2 2018 earnings estimates for Independent Bank Group in a research report issued on Wednesday, according to Zacks Investment Research. SunTrust Banks analyst M. Young now forecasts that the bank will post earnings per share of $1.04 for the quarter, down from their previous forecast of $1.05. SunTrust Banks has a “Hold” rating and a $75.00 price objective on the stock. SunTrust Banks also issued estimates for Independent Bank Group’s Q3 2018 earnings at $1.05 EPS, Q4 2018 earnings at $1.08 EPS, FY2018 earnings at $4.14 EPS and FY2019 earnings at $4.70 EPS.
IBTX has been the topic of a number of other research reports. Zacks Investment Research upgraded shares of Independent Bank Group from a “sell” rating to a “hold” rating in a research note on Friday, October 6th. BidaskClub cut shares of Independent Bank Group from a “buy” rating to a “hold” rating in a research note on Wednesday, December 27th. Piper Jaffray Companies restated a “buy” rating and set a $76.00 target price on shares of Independent Bank Group in a research note on Thursday, October 19th. Finally, Keefe, Bruyette & Woods restated a “buy” rating and set a $71.00 target price on shares of Independent Bank Group in a research note on Wednesday, October 4th. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Independent Bank Group has an average rating of “Buy” and an average price target of $72.86.
Independent Bank Group (NASDAQ:IBTX) traded up $0.85 on Monday, hitting $70.75. 64,700 shares of the company were exchanged, compared to its average volume of 83,029. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.03 and a current ratio of 1.04. Independent Bank Group has a 52 week low of $51.70 and a 52 week high of $72.28. The stock has a market cap of $2,030.00, a PE ratio of 24.31 and a beta of 1.31.
Independent Bank Group (NASDAQ:IBTX) last released its earnings results on Monday, October 23rd. The bank reported $0.89 earnings per share for the quarter, beating analysts’ consensus estimates of $0.88 by $0.01. Independent Bank Group had a net margin of 23.46% and a return on equity of 8.11%. The company had revenue of $84.99 million for the quarter, compared to analysts’ expectations of $83.00 million. During the same quarter in the previous year, the company earned $0.78 EPS.
In other news, Vice Chairman Brian E. Hobart sold 22,500 shares of the business’s stock in a transaction dated Monday, October 16th. The shares were sold at an average price of $60.71, for a total value of $1,365,975.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Vice Chairman Daniel W. Brooks sold 25,000 shares of the business’s stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $68.30, for a total transaction of $1,707,500.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 87,397 shares of company stock worth $5,565,604. 7.70% of the stock is currently owned by insiders.
Institutional investors have recently bought and sold shares of the company. State Street Corp boosted its stake in shares of Independent Bank Group by 29.9% during the 2nd quarter. State Street Corp now owns 449,148 shares of the bank’s stock worth $26,725,000 after purchasing an additional 103,332 shares during the period. First Trust Advisors LP boosted its stake in shares of Independent Bank Group by 6.9% during the 2nd quarter. First Trust Advisors LP now owns 79,444 shares of the bank’s stock worth $4,727,000 after purchasing an additional 5,111 shares during the period. Northern Trust Corp boosted its stake in shares of Independent Bank Group by 51.9% during the 2nd quarter. Northern Trust Corp now owns 209,830 shares of the bank’s stock worth $12,486,000 after purchasing an additional 71,705 shares during the period. John W. Rosenthal Capital Management Inc. purchased a new position in shares of Independent Bank Group during the 3rd quarter worth about $2,147,000. Finally, Citadel Advisors LLC boosted its stake in shares of Independent Bank Group by 190.9% during the 2nd quarter. Citadel Advisors LLC now owns 10,534 shares of the bank’s stock worth $627,000 after purchasing an additional 6,913 shares during the period. Hedge funds and other institutional investors own 47.72% of the company’s stock.
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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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