Q4 2017 EPS Estimates for Independent Bank Group, Inc (IBTX) Cut by Analyst
Independent Bank Group, Inc (NASDAQ:IBTX) – Stock analysts at SunTrust Banks reduced their Q4 2017 earnings estimates for Independent Bank Group in a research report issued on Wednesday. SunTrust Banks analyst M. Young now forecasts that the bank will post earnings of $0.92 per share for the quarter, down from their prior forecast of $0.93. SunTrust Banks also issued estimates for Independent Bank Group’s Q3 2018 earnings at $1.06 EPS and Q4 2018 earnings at $1.09 EPS.
Independent Bank Group (NASDAQ:IBTX) last announced its earnings results on Monday, October 23rd. The bank reported $0.89 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.88 by $0.01. Independent Bank Group had a return on equity of 8.11% and a net margin of 23.46%. The company had revenue of $84.99 million during the quarter, compared to analyst estimates of $83.00 million. During the same period last year, the company posted $0.78 earnings per share.
Other analysts have also issued reports about the company. Keefe, Bruyette & Woods restated a “buy” rating and issued a $71.00 target price on shares of Independent Bank Group in a research note on Wednesday, October 4th. Piper Jaffray Companies reiterated a “buy” rating and issued a $76.00 price objective on shares of Independent Bank Group in a research report on Friday, September 1st. BidaskClub upgraded Independent Bank Group from a “hold” rating to a “buy” rating in a research report on Saturday. Finally, Zacks Investment Research upgraded Independent Bank Group from a “sell” rating to a “hold” rating in a research report on Friday, October 6th. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $71.40.
Shares of Independent Bank Group (NASDAQ:IBTX) opened at $68.95 on Friday. Independent Bank Group has a 12 month low of $51.70 and a 12 month high of $70.45. The firm has a market capitalization of $1,920.00, a price-to-earnings ratio of 20.39 and a beta of 1.29. The company has a quick ratio of 1.03, a current ratio of 1.04 and a debt-to-equity ratio of 0.55.
Large investors have recently added to or reduced their stakes in the company. Stone Point Capital LLC bought a new position in shares of Independent Bank Group during the 2nd quarter valued at about $104,909,000. First Trust Advisors LP lifted its holdings in shares of Independent Bank Group by 6.9% during the 2nd quarter. First Trust Advisors LP now owns 79,444 shares of the bank’s stock valued at $4,727,000 after purchasing an additional 5,111 shares in the last quarter. John W. Rosenthal Capital Management Inc. bought a new position in shares of Independent Bank Group during the 3rd quarter valued at about $2,147,000. Citadel Advisors LLC lifted its stake in Independent Bank Group by 190.9% in the 2nd quarter. Citadel Advisors LLC now owns 10,534 shares of the bank’s stock valued at $627,000 after acquiring an additional 6,913 shares in the last quarter. Finally, Northern Trust Corp lifted its stake in Independent Bank Group by 51.9% in the 2nd quarter. Northern Trust Corp now owns 209,830 shares of the bank’s stock valued at $12,486,000 after acquiring an additional 71,705 shares in the last quarter. Institutional investors and hedge funds own 49.83% of the company’s stock.
In other news, Vice Chairman Daniel W. Brooks sold 25,000 shares of Independent Bank Group stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $68.30, for a total transaction of $1,707,500.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Vice Chairman Daniel W. Brooks sold 7,503 shares of Independent Bank Group stock in a transaction dated Friday, October 13th. The shares were sold at an average price of $60.67, for a total value of $455,207.01. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 87,397 shares of company stock worth $5,565,604. Company insiders own 7.70% of the company’s stock.
The business also recently announced a quarterly dividend, which was paid on Thursday, November 16th. Shareholders of record on Monday, November 6th were issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.58%. The ex-dividend date was Friday, November 3rd. Independent Bank Group’s dividend payout ratio (DPR) is currently 13.75%.
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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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