Independent Bank Group Inc (NASDAQ:IBTX) has earned a consensus rating of “Buy” from the nine research firms that are presently covering the firm, Marketbeat reports. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $72.00.
Several brokerages have recently issued reports on IBTX. SunTrust Banks reissued a “neutral” rating on shares of Independent Bank Group in a report on Wednesday, January 31st. Stephens reissued a “buy” rating on shares of Independent Bank Group in a report on Wednesday, January 31st. Sandler O’Neill reissued a “buy” rating on shares of Independent Bank Group in a report on Wednesday, January 31st. BidaskClub cut Independent Bank Group from a “buy” rating to a “hold” rating in a report on Tuesday, January 30th. Finally, Zacks Investment Research cut Independent Bank Group from a “buy” rating to a “hold” rating in a report on Thursday, January 25th.
Shares of Independent Bank Group (NASDAQ:IBTX) opened at $74.40 on Tuesday. Independent Bank Group has a 52-week low of $51.70 and a 52-week high of $75.95. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.03 and a current ratio of 1.04. The company has a market capitalization of $2,102.16, a PE ratio of 24.88 and a beta of 1.29.
Independent Bank Group (NASDAQ:IBTX) last issued its quarterly earnings data on Monday, January 29th. The bank reported $0.90 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.93 by ($0.03). The company had revenue of $88.83 million during the quarter, compared to analyst estimates of $83.85 million. Independent Bank Group had a net margin of 21.91% and a return on equity of 8.26%. During the same period last year, the firm earned $0.83 EPS. equities analysts forecast that Independent Bank Group will post 4.81 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 22nd. Stockholders of record on Monday, February 12th will be issued a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 0.65%. The ex-dividend date of this dividend is Friday, February 9th. This is a boost from Independent Bank Group’s previous quarterly dividend of $0.10. Independent Bank Group’s payout ratio is 16.05%.
In related news, Vice Chairman Daniel W. Brooks sold 25,000 shares of the company’s stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $68.30, for a total value of $1,707,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 7.70% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BNP Paribas Arbitrage SA raised its holdings in Independent Bank Group by 54.3% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 2,908 shares of the bank’s stock worth $175,000 after purchasing an additional 1,023 shares during the period. Ellington Management Group LLC acquired a new position in Independent Bank Group in the 4th quarter worth about $203,000. Navellier & Associates Inc acquired a new position in Independent Bank Group in the 4th quarter worth about $212,000. Comerica Bank acquired a new position in Independent Bank Group in the 4th quarter worth about $219,000. Finally, Virtu KCG Holdings LLC acquired a new position in Independent Bank Group in the 2nd quarter worth about $251,000. 48.61% of the stock is owned by institutional investors.
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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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