Independent Bank Group’s (NASDAQ:IBTX) Buy Rating Reaffirmed at Stephens
IBTX has been the topic of several other research reports. BidaskClub lowered shares of Independent Bank Group from a hold rating to a sell rating in a research report on Wednesday, July 19th. Zacks Investment Research lowered shares of Independent Bank Group from a buy rating to a hold rating in a research report on Thursday, April 27th. Sandler O’Neill upgraded shares of Independent Bank Group from a hold rating to a buy rating and set a $70.00 target price for the company in a research note on Monday, June 26th. Finally, ValuEngine upgraded shares of Independent Bank Group from a hold rating to a buy rating in a research note on Friday, June 2nd. Two analysts have rated the stock with a sell rating and five have issued a buy rating to the company. The stock presently has a consensus rating of Hold and a consensus target price of $69.60.
Shares of Independent Bank Group (IBTX) traded up 0.17% on Tuesday, hitting $60.10. 95,480 shares of the company’s stock were exchanged. The firm has a market cap of $1.67 billion, a P/E ratio of 22.18 and a beta of 1.26. The stock’s 50 day moving average is $58.89 and its 200 day moving average is $61.02. Independent Bank Group has a 12 month low of $40.39 and a 12 month high of $66.85.
Independent Bank Group (NASDAQ:IBTX) last announced its quarterly earnings data on Monday, July 24th. The bank reported $0.82 EPS for the quarter, hitting the consensus estimate of $0.82. The business had revenue of $80.50 million for the quarter, compared to analyst estimates of $81.31 million. Independent Bank Group had a net margin of 23.52% and a return on equity of 10.30%. The company’s revenue for the quarter was up 58.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.74 earnings per share. On average, equities analysts predict that Independent Bank Group will post $3.42 earnings per share for the current year.
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The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 17th. Stockholders of record on Monday, August 7th will be paid a $0.10 dividend. The ex-dividend date is Thursday, August 3rd. This represents a $0.40 annualized dividend and a dividend yield of 0.67%. Independent Bank Group’s payout ratio is 13.16%.
Several institutional investors have recently bought and sold shares of IBTX. Stone Point Capital LLC acquired a new position in Independent Bank Group during the second quarter valued at $104,909,000. Castle Creek Capital Partners IV LP acquired a new position in Independent Bank Group during the second quarter valued at $20,381,000. Mesirow Financial Investment Management Equity Management increased its position in Independent Bank Group by 4,430.6% in the first quarter. Mesirow Financial Investment Management Equity Management now owns 280,443 shares of the bank’s stock valued at $18,031,000 after buying an additional 274,253 shares during the last quarter. Chartwell Investment Partners LLC acquired a new position in Independent Bank Group during the first quarter valued at $13,564,000. Finally, Next Century Growth Investors LLC acquired a new position in Independent Bank Group during the first quarter valued at $9,832,000. Hedge funds and other institutional investors own 33.58% of the company’s stock.
About Independent Bank Group
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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