Independent Bank Group Inc to Post Q1 2019 Earnings of $1.29 Per Share, SunTrust Banks Forecasts (IBTX)

Independent Bank Group Inc (NASDAQ:IBTX) – Investment analysts at SunTrust Banks issued their Q1 2019 earnings per share (EPS) estimates for Independent Bank Group in a report released on Wednesday. SunTrust Banks analyst M. Young anticipates that the bank will earn $1.29 per share for the quarter. SunTrust Banks currently has a “Neutral” rating on the stock. SunTrust Banks also issued estimates for Independent Bank Group’s Q2 2019 earnings at $1.36 EPS, Q3 2019 earnings at $1.38 EPS and Q4 2019 earnings at $1.41 EPS.

Independent Bank Group (NASDAQ:IBTX) last released its earnings results on Monday, January 29th. The bank reported $0.90 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.93 by ($0.03). The firm had revenue of $88.83 million for the quarter, compared to analyst estimates of $83.85 million. Independent Bank Group had a return on equity of 8.26% and a net margin of 21.91%. During the same period in the previous year, the firm earned $0.83 earnings per share.

A number of other research firms have also weighed in on IBTX. BidaskClub lowered Independent Bank Group from a “buy” rating to a “hold” rating in a research report on Wednesday, December 27th. Zacks Investment Research lowered Independent Bank Group from a “buy” rating to a “hold” rating in a research report on Thursday, January 25th. Piper Jaffray Companies reiterated a “buy” rating and issued a $76.00 price target on shares of Independent Bank Group in a research report on Thursday, October 19th. Finally, Sandler O’Neill reiterated a “buy” rating on shares of Independent Bank Group in a research report on Wednesday. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $73.57.

Independent Bank Group (NASDAQ:IBTX) opened at $71.80 on Friday. The stock has a market capitalization of $2,010.00, a PE ratio of 23.24 and a beta of 1.29. Independent Bank Group has a fifty-two week low of $51.70 and a fifty-two week high of $75.95. The company has a current ratio of 1.04, a quick ratio of 1.03 and a debt-to-equity ratio of 0.55.

Hedge funds and other institutional investors have recently made changes to their positions in the business. State Street Corp boosted its position in 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 acquiring an additional 103,332 shares during the period. Northern Trust Corp boosted its position in 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 acquiring an additional 71,705 shares during the period. John W. Rosenthal Capital Management Inc. acquired a new stake in Independent Bank Group during the 3rd quarter worth about $2,147,000. Citadel Advisors LLC boosted its position in 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 acquiring an additional 6,913 shares during the period. Finally, Vanguard Group Inc. boosted its position in Independent Bank Group by 18.1% during the 2nd quarter. Vanguard Group Inc. now owns 616,447 shares of the bank’s stock worth $36,678,000 after acquiring an additional 94,580 shares during the period. Hedge funds and other institutional investors own 47.71% of the company’s stock.

In other Independent Bank Group news, Vice Chairman Daniel W. Brooks sold 25,000 shares of the firm’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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 7.70% of the company’s stock.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 22nd. Shareholders of record on Monday, February 12th will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Friday, February 9th. This is a positive change from Independent Bank Group’s previous quarterly dividend of $0.10. This represents a $0.48 dividend on an annualized basis and a yield of 0.67%. Independent Bank Group’s dividend payout ratio (DPR) is presently 12.94%.

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Independent Bank Group Company Profile

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.

Earnings History and Estimates for Independent Bank Group (NASDAQ:IBTX)

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