Independent Bank Group (IBTX) Earning Favorable Media Coverage, Study Shows
Headlines about Independent Bank Group (NASDAQ:IBTX) have trended positive recently, according to Accern Sentiment Analysis. Accern rates the sentiment of press coverage by monitoring more than twenty million news and blog sources in real-time. Accern ranks coverage of companies on a scale of -1 to 1, with scores nearest to one being the most favorable. Independent Bank Group earned a media sentiment score of 0.41 on Accern’s scale. Accern also assigned media coverage about the bank an impact score of 46.1841863430817 out of 100, indicating that recent press coverage is somewhat unlikely to have an effect on the company’s share price in the next few days.
Shares of Independent Bank Group (NASDAQ:IBTX) traded down $0.15 during trading hours on Friday, hitting $63.85. The stock had a trading volume of 37,185 shares, compared to its average volume of 131,500. Independent Bank Group has a 52 week low of $51.70 and a 52 week high of $66.85. The firm has a market capitalization of $1,775.48, a price-to-earnings ratio of 18.89 and a beta of 1.29. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.03 and a current ratio of 1.04.
Independent Bank Group (NASDAQ:IBTX) last posted its quarterly earnings results on Monday, October 23rd. The bank reported $0.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.01. The business had revenue of $84.99 million for the quarter, compared to analysts’ expectations of $83.00 million. Independent Bank Group had a return on equity of 8.11% and a net margin of 23.46%. During the same quarter last year, the business earned $0.78 earnings per share. analysts predict that Independent Bank Group will post 3.47 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Thursday, November 16th. Investors of record on Monday, November 6th were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.63%. The ex-dividend date of this dividend was Friday, November 3rd. Independent Bank Group’s dividend payout ratio is 12.90%.
A number of brokerages have recently weighed in on IBTX. Piper Jaffray Companies restated a “buy” rating and issued a $76.00 target price on shares of Independent Bank Group in a research note on Friday, September 1st. 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. BidaskClub lowered Independent Bank Group from a “hold” rating to a “sell” rating in a research note on Tuesday, August 22nd. Finally, Zacks Investment Research upgraded Independent Bank Group from a “sell” rating to a “hold” rating in a research note on Friday, October 6th. One analyst has rated the stock with a sell rating, one has given a hold rating and six have assigned a buy rating to the company’s stock. Independent Bank Group presently has an average rating of “Buy” and an average price target of $71.40.
In related news, Vice Chairman Daniel W. Brooks sold 7,503 shares of the firm’s stock in a transaction dated Friday, October 13th. The stock was sold at an average price of $60.67, for a total value of $455,207.01. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Vice Chairman Brian E. Hobart sold 7,500 shares of the firm’s stock in a transaction dated Thursday, October 26th. The shares were sold at an average price of $65.00, for a total value of $487,500.00. Following the completion of the transaction, the insider now owns 111,022 shares in the company, valued at approximately $7,216,430. The disclosure for this sale can be found here. In the last quarter, insiders sold 62,397 shares of company stock worth $3,858,104. 7.70% of the stock is owned by company 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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