Independent Bank Group (NASDAQ:IBTX) was downgraded by equities researchers at BidaskClub from a “buy” rating to a “hold” rating in a report issued on Wednesday.
A number of other equities research analysts have also commented on the company. ValuEngine lowered Independent Bank Group from a “buy” rating to a “hold” rating in a research report on Friday, June 8th. Zacks Investment Research upgraded Independent Bank Group from a “sell” rating to a “hold” rating in a research report on Friday, May 18th. Finally, SunTrust Banks increased their price target on Independent Bank Group to $80.00 and gave the stock a “hold” rating in a research report on Tuesday, May 15th. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Independent Bank Group presently has an average rating of “Buy” and an average target price of $74.29.
Independent Bank Group opened at $70.25 on Wednesday, according to Marketbeat Ratings. The company has a market cap of $2.02 billion, a P/E ratio of 20.36 and a beta of 1.26. Independent Bank Group has a one year low of $51.70 and a one year high of $79.00. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.03 and a current ratio of 1.04.
Independent Bank Group (NASDAQ:IBTX) last released its quarterly earnings results on Monday, April 23rd. The bank reported $1.03 EPS for the quarter, missing the Zacks’ consensus estimate of $1.07 by ($0.04). The business had revenue of $83.42 million for the quarter, compared to the consensus estimate of $83.80 million. Independent Bank Group had a return on equity of 7.81% and a net margin of 23.25%. During the same quarter last year, the company earned $0.84 earnings per share. analysts forecast that Independent Bank Group will post 4.6 earnings per share for the current fiscal year.
In other Independent Bank Group news, EVP Jan C. Webb sold 5,000 shares of the company’s stock in a transaction on Thursday, May 31st. The stock was sold at an average price of $75.56, for a total transaction of $377,800.00. Following the transaction, the executive vice president now owns 17,295 shares of the company’s stock, valued at approximately $1,306,810.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, COO James C. White sold 1,250 shares of the company’s stock in a transaction on Monday, April 2nd. The stock was sold at an average price of $69.76, for a total value of $87,200.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 6,950 shares of company stock worth $517,850. Company insiders own 10.90% of the company’s stock.
A number of large investors have recently bought and sold shares of IBTX. Schwab Charles Investment Management Inc. lifted its holdings in Independent Bank Group by 4.0% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 88,830 shares of the bank’s stock worth $6,005,000 after buying an additional 3,405 shares in the last quarter. Comerica Bank acquired a new position in Independent Bank Group during the 4th quarter worth $219,000. Aperio Group LLC acquired a new position in Independent Bank Group during the 4th quarter worth $383,000. Teacher Retirement System of Texas acquired a new position in Independent Bank Group during the 4th quarter worth $301,000. Finally, Swiss National Bank lifted its stake in shares of Independent Bank Group by 26.9% in the 4th quarter. Swiss National Bank now owns 25,952 shares of the bank’s stock valued at $1,754,000 after purchasing an additional 5,500 shares during the period. 59.54% of the stock is currently owned by hedge funds and other institutional investors.
Independent Bank Group Company Profile
Independent Bank Group, Inc operates as the bank holding company for Independent Bank that provides a range of commercial banking products and services to businesses, professionals, and individuals in the United States. It offers various deposit products, including checking and savings accounts, demand accounts, money market accounts, and certificates of deposit, as well as individual retirement accounts.
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