Independent Bank Group Inc (NASDAQ:IBTX) has earned an average rating of “Buy” from the nine analysts that are currently covering the firm, Marketbeat reports. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $72.00.
A number of research firms have commented on IBTX. Stephens reissued a “buy” rating on shares of Independent Bank Group in a report on Wednesday, January 31st. BidaskClub raised Independent Bank Group from a “hold” rating to a “buy” rating in a report on Saturday, December 2nd. Sandler O’Neill reissued a “buy” rating on shares of Independent Bank Group in a report on Wednesday, January 31st. Zacks Investment Research raised Independent Bank Group from a “hold” rating to a “buy” rating and set a $78.00 target price for the company in a report on Wednesday, January 10th. Finally, SunTrust Banks reissued a “hold” rating and issued a $75.00 target price on shares of Independent Bank Group in a report on Tuesday, January 9th.
In related news, Vice Chairman Daniel W. Brooks sold 25,000 shares of Independent Bank Group stock in a transaction on Thursday, November 30th. The stock was sold at an average price of $68.30, for a total value of $1,707,500.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 7.70% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of IBTX. Teachers Advisors LLC grew its holdings in shares of Independent Bank Group by 63.2% in the second quarter. Teachers Advisors LLC now owns 31,352 shares of the bank’s stock worth $1,865,000 after acquiring an additional 12,144 shares during the period. New York State Common Retirement Fund grew its holdings in shares of Independent Bank Group by 6.3% in the second quarter. New York State Common Retirement Fund now owns 18,900 shares of the bank’s stock worth $1,125,000 after acquiring an additional 1,113 shares during the period. Northern Trust Corp grew its holdings in shares of Independent Bank Group by 51.9% in the second 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. Vanguard Group Inc. grew its holdings in shares of Independent Bank Group by 18.1% in the second 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. Finally, California Public Employees Retirement System grew its holdings in shares of Independent Bank Group by 10.9% in the second quarter. California Public Employees Retirement System now owns 6,100 shares of the bank’s stock worth $363,000 after acquiring an additional 600 shares during the period. 48.61% of the stock is owned by institutional investors.
Shares of Independent Bank Group (NASDAQ:IBTX) traded down $2.65 during trading hours on Tuesday, reaching $71.30. The company’s stock had a trading volume of 133,400 shares, compared to its average volume of 120,138. The stock has a market capitalization of $2,089.45, a PE ratio of 23.85 and a beta of 1.29. Independent Bank Group has a 1-year low of $51.70 and a 1-year high of $75.95. The company has a quick ratio of 1.03, a current ratio of 1.04 and a debt-to-equity ratio of 0.55.
Independent Bank Group (NASDAQ:IBTX) last posted its earnings results on Monday, January 29th. The bank reported $0.90 EPS for the quarter, missing the Zacks’ consensus estimate of $0.93 by ($0.03). The business had revenue of $88.83 million during the quarter, compared to the consensus estimate 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 business posted $0.83 EPS. sell-side analysts predict that Independent Bank Group will post 4.81 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 22nd. Investors of record on Monday, February 12th were issued a $0.12 dividend. The ex-dividend date of this dividend was Friday, February 9th. This represents a $0.48 annualized dividend and a dividend yield of 0.67%. This is a positive change from Independent Bank Group’s previous quarterly dividend of $0.10. Independent Bank Group’s payout ratio is presently 16.05%.
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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.
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