Independent Bank Group (NASDAQ:IBTX) Receiving Favorable News Coverage, Report Shows
Media stories about Independent Bank Group (NASDAQ:IBTX) have trended positive this week, Accern Sentiment reports. Accern identifies negative and positive news coverage by analyzing more than twenty million news and blog sources. Accern ranks coverage of public companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. Independent Bank Group earned a media sentiment score of 0.46 on Accern’s scale. Accern also gave news coverage about the bank an impact score of 46.2095216555128 out of 100, indicating that recent news coverage is somewhat unlikely to have an effect on the stock’s share price in the near future.
These are some of the news articles that may have effected Accern Sentiment’s scoring:
- Independent Bank Group, Inc. breached its 50 day moving average in a Bearish Manner : IBTX-US : August 10, 2017 (finance.yahoo.com)
- Brokerages Expect Independent Bank Group, Inc (IBTX) Will Announce Quarterly Sales of $83.45 Million (americanbankingnews.com)
- Zacks: Analysts Expect Independent Bank Group, Inc (IBTX) to Post $0.89 EPS (americanbankingnews.com)
- Independent Bank Group, Inc (NASDAQ:IBTX) Director John Webb Jennings III Sells 3,000 Shares (americanbankingnews.com)
A number of research firms have recently commented on IBTX. Hovde Group raised Independent Bank Group from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $68.00 to $69.00 in a research report on Wednesday, July 26th. Keefe, Bruyette & Woods raised Independent Bank Group from a “market perform” rating to an “outperform” rating and set a $71.00 price target on the stock in a research report on Wednesday, July 26th. Stephens reaffirmed a “buy” rating and set a $72.00 price target on shares of Independent Bank Group in a research report on Tuesday, June 20th. BidaskClub lowered Independent Bank Group from a “hold” rating to a “sell” rating in a research report on Wednesday, July 19th. Finally, Zacks Investment Research lowered Independent Bank Group from a “buy” rating to a “hold” rating in a research report on Thursday, April 27th. Two analysts have rated the stock with a sell rating and five have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $69.60.
Independent Bank Group (NASDAQ IBTX) traded down 0.78% during midday trading on Friday, hitting $57.25. The stock had a trading volume of 62,828 shares. The company’s 50 day moving average price is $59.39 and its 200-day moving average price is $60.93. The stock has a market capitalization of $1.59 billion, a price-to-earnings ratio of 19.12 and a beta of 1.26. Independent Bank Group has a 52 week low of $42.29 and a 52 week high of $66.85.
Independent Bank Group (NASDAQ:IBTX) last announced its 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 return on equity of 8.43% and a net margin of 23.52%. The company had revenue of $80.50 million for the quarter, compared to analyst estimates of $81.31 million. During the same quarter in the prior year, the company earned $0.74 EPS. The firm’s revenue for the quarter was up 58.4% compared to the same quarter last year. Equities analysts anticipate that Independent Bank Group will post $3.34 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, August 17th. Investors of record on Monday, August 7th will be paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.70%. The ex-dividend date of this dividend is Thursday, August 3rd. Independent Bank Group’s dividend payout ratio (DPR) is currently 13.16%.
In related news, Director John Webb Jennings III sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $61.78, for a total transaction of $185,340.00. Following the transaction, the director now directly owns 38,350 shares of the company’s stock, valued at approximately $2,369,263. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 7.70% of the stock is currently owned by corporate insiders.
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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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