Favorable News Coverage Somewhat Unlikely to Affect Independent Bank Group (NASDAQ:IBTX) Share Price
Press coverage about Independent Bank Group (NASDAQ:IBTX) has trended positive recently, according to Accern. The research group ranks the sentiment of press coverage by reviewing more than twenty million blog and news sources. 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 coverage optimism score of 0.44 on Accern’s scale. Accern also gave news coverage about the bank an impact score of 47.2617951817008 out of 100, indicating that recent press coverage is somewhat unlikely to have an impact on the stock’s share price in the next several days.
A number of equities analysts have recently commented on IBTX shares. Zacks Investment Research lowered shares of Independent Bank Group from a “hold” rating to a “sell” rating in a research report on Thursday, June 29th. Stephens restated a “buy” rating on shares of Independent Bank Group in a research report on Monday, April 24th. ValuEngine upgraded shares of Independent Bank Group from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. BidaskClub lowered shares of Independent Bank Group from a “hold” rating to a “sell” rating in a research report on Saturday, June 24th. Finally, Sandler O’Neill upgraded shares of Independent Bank Group from a “hold” rating to a “buy” rating and set a $70.00 price objective for the company in a research report on Monday, June 26th. Two research analysts have rated the stock with a sell rating and five have given a buy rating to the company. Independent Bank Group presently has a consensus rating of “Hold” and an average target price of $69.60.
Shares of Independent Bank Group (IBTX) opened at 61.85 on Monday. The company has a market capitalization of $1.72 billion, a price-to-earnings ratio of 20.66 and a beta of 1.26. Independent Bank Group has a 12 month low of $41.49 and a 12 month high of $66.85. The firm’s 50-day moving average is $58.91 and its 200 day moving average is $60.97.
Independent Bank Group (NASDAQ:IBTX) last issued its earnings results on Monday, July 24th. The bank reported $0.82 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.82. Independent Bank Group had a return on equity of 8.43% and a net margin of 23.52%. The firm had revenue of $80.50 million for the quarter, compared to analysts’ expectations of $81.31 million. During the same quarter last year, the firm earned $0.74 earnings per share. The firm’s revenue for the quarter was up 58.4% compared to the same quarter last year. Equities analysts expect that Independent Bank Group will post $3.34 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, August 17th. Investors of record on Monday, August 7th will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.65%. The ex-dividend date is Thursday, August 3rd. Independent Bank Group’s payout ratio is currently 13.16%.
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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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