Independent Bank Group, Inc (IBTX) Receives $70.25 Consensus PT from Analysts
Shares of Independent Bank Group, Inc (NASDAQ:IBTX) have received an average recommendation of “Hold” from the seven analysts that are currently covering the company, MarketBeat Ratings reports. Two analysts have rated the stock with a sell rating and five have issued a buy rating on the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $70.25.
A number of brokerages have weighed in on IBTX. Stephens reiterated a “buy” rating on shares of Independent Bank Group in a research report on Monday, April 24th. Zacks Investment Research downgraded shares of Independent Bank Group from a “buy” rating to a “hold” rating in a research report on Thursday, April 27th. Hovde Group upgraded shares of Independent Bank Group from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $68.00 to $69.00 in a research report on Wednesday, July 26th. Keefe, Bruyette & Woods upgraded shares of Independent Bank Group from a “market perform” rating to an “outperform” rating and set a $71.00 price objective for the company in a research report on Wednesday, July 26th. Finally, BidaskClub downgraded shares of Independent Bank Group from a “hold” rating to a “sell” rating in a research report on Wednesday, July 19th.
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Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. US Bancorp DE increased its position in Independent Bank Group by 898.4% in the first quarter. US Bancorp DE now owns 7,528 shares of the bank’s stock valued at $484,000 after buying an additional 6,774 shares during the period. First Trust Advisors LP increased its position in Independent Bank Group by 38.4% in the first quarter. First Trust Advisors LP now owns 74,333 shares of the bank’s stock valued at $4,780,000 after buying an additional 20,627 shares during the period. Eqis Capital Management Inc. acquired a new stake in Independent Bank Group during the first quarter worth approximately $293,000. Wells Fargo & Company MN increased its stake in Independent Bank Group by 18.5% in the first quarter. Wells Fargo & Company MN now owns 30,599 shares of the bank’s stock worth $1,968,000 after buying an additional 4,775 shares during the last quarter. Finally, Sapphire Star Partners LP acquired a new stake in Independent Bank Group during the first quarter worth approximately $285,000. Hedge funds and other institutional investors own 41.45% of the company’s stock.
Independent Bank Group (IBTX) traded down 0.08% during midday trading on Friday, reaching $61.80. The company’s stock had a trading volume of 20,196 shares. The stock’s 50 day moving average price is $58.91 and its 200-day moving average price is $60.97. Independent Bank Group has a one year low of $41.49 and a one year high of $66.85. The stock has a market cap of $1.72 billion, a price-to-earnings ratio of 20.64 and a beta of 1.26.
Independent Bank Group (NASDAQ:IBTX) last posted its quarterly earnings results on Monday, July 24th. The bank reported $0.82 EPS for the quarter, meeting the consensus estimate of $0.82. Independent Bank Group had a net margin of 23.52% and a return on equity of 8.43%. The company had revenue of $80.50 million for the quarter, compared to analyst estimates of $81.31 million. During the same period in the prior year, the company earned $0.74 earnings per share. The firm’s revenue was up 58.4% on a year-over-year basis. On average, analysts forecast that Independent Bank Group will post $3.34 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, August 17th. Investors of record on Monday, August 7th will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, August 3rd. This represents a $0.40 annualized dividend and a dividend yield of 0.65%. Independent Bank Group’s dividend payout ratio (DPR) is presently 13.16%.
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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