Independent Bank Group, Inc (NASDAQ:IBTX) – Research analysts at SunTrust Banks lowered their FY2017 earnings per share estimates for shares of Independent Bank Group in a research note issued to investors on Monday. SunTrust Banks analyst M. Young now anticipates that the bank will post earnings per share of $3.31 for the year, down from their previous estimate of $3.32. SunTrust Banks also issued estimates for Independent Bank Group’s Q1 2018 earnings at $0.99 EPS, Q2 2018 earnings at $1.02 EPS, Q3 2018 earnings at $1.07 EPS and FY2018 earnings at $4.17 EPS.

IBTX has been the subject of a number of other reports. BidaskClub downgraded Independent Bank Group from a “hold” rating to a “sell” rating in a research note on Tuesday, August 22nd. Hovde Group upgraded Independent Bank Group from a “market perform” rating to an “outperform” rating and raised their price target for the company from $68.00 to $69.00 in a research note on Wednesday, July 26th. Keefe, Bruyette & Woods upgraded Independent Bank Group from a “market perform” rating to an “outperform” rating and set a $71.00 price target for the company in a research note on Wednesday, July 26th. Stephens restated a “buy” rating and issued a $72.00 price target on shares of Independent Bank Group in a research note on Tuesday, June 20th. Finally, Piper Jaffray Companies reiterated a “buy” rating and set a $76.00 target price on shares of Independent Bank Group in a research note on Friday, September 1st. Two analysts have rated the stock with a sell rating and six have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $70.67.

COPYRIGHT VIOLATION NOTICE: “Independent Bank Group, Inc (IBTX) to Post FY2017 Earnings of $3.31 Per Share, SunTrust Banks Forecasts” was first posted by Watch List News and is owned by of Watch List News. If you are reading this story on another domain, it was illegally stolen and reposted in violation of United States & international copyright & trademark legislation. The original version of this story can be read at https://www.watchlistnews.com/independent-bank-group-inc-ibtx-to-post-fy2017-earnings-of-3-31-per-share-suntrust-banks-forecasts/1577976.html.

Shares of Independent Bank Group (NASDAQ:IBTX) opened at 57.70 on Tuesday. Independent Bank Group has a 12 month low of $43.00 and a 12 month high of $66.85. The company has a market cap of $1.60 billion, a PE ratio of 19.27 and a beta of 1.27. The firm’s 50-day moving average price is $57.24 and its 200-day moving average price is $59.43.

Independent Bank Group (NASDAQ:IBTX) last announced its earnings results on Monday, July 24th. The bank reported $0.82 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.82. The firm had revenue of $80.50 million during the quarter, compared to analysts’ expectations of $81.31 million. Independent Bank Group had a return on equity of 8.43% and a net margin of 23.52%. The company’s revenue was up 58.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.74 earnings per share.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Alps Advisors Inc. boosted its stake in Independent Bank Group by 0.3% in the 2nd quarter. Alps Advisors Inc. now owns 7,559 shares of the bank’s stock valued at $450,000 after purchasing an additional 20 shares during the period. ClariVest Asset Management LLC boosted its stake in Independent Bank Group by 5.3% in the 1st quarter. ClariVest Asset Management LLC now owns 7,669 shares of the bank’s stock valued at $493,000 after purchasing an additional 385 shares during the period. Public Employees Retirement System of Ohio boosted its stake in Independent Bank Group by 16.2% in the 1st quarter. Public Employees Retirement System of Ohio now owns 2,790 shares of the bank’s stock valued at $179,000 after purchasing an additional 389 shares during the period. American International Group Inc. boosted its stake in Independent Bank Group by 7.1% in the 1st quarter. American International Group Inc. now owns 6,841 shares of the bank’s stock valued at $440,000 after purchasing an additional 451 shares during the period. Finally, California Public Employees Retirement System boosted its stake in Independent Bank Group by 10.9% in the 2nd quarter. California Public Employees Retirement System now owns 6,100 shares of the bank’s stock valued at $363,000 after purchasing an additional 600 shares during the period. Institutional investors and hedge funds own 46.49% of the company’s stock.

In other news, Director John Webb Jennings III sold 3,000 shares of Independent Bank Group 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 completion of the transaction, the director now directly owns 38,350 shares in the company, valued at approximately $2,369,263. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 7.70% of the company’s stock.

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.

Earnings History and Estimates for Independent Bank Group (NASDAQ:IBTX)

Receive News & Ratings for Independent Bank Group Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Independent Bank Group Inc and related companies with Analyst Ratings Network's FREE daily email newsletter.