Q1 2018 EPS Estimates for Independent Bank Group Inc (IBTX) Decreased by SunTrust Banks
Independent Bank Group Inc (NASDAQ:IBTX) – Equities researchers at SunTrust Banks reduced their Q1 2018 earnings estimates for shares of Independent Bank Group in a research report issued on Wednesday. SunTrust Banks analyst M. Young now forecasts that the bank will earn $1.08 per share for the quarter, down from their prior estimate of $1.11. SunTrust Banks currently has a “Neutral” rating on the stock. SunTrust Banks also issued estimates for Independent Bank Group’s Q2 2018 earnings at $1.17 EPS, Q3 2018 earnings at $1.23 EPS, Q4 2018 earnings at $1.24 EPS, FY2018 earnings at $4.72 EPS and FY2019 earnings at $5.44 EPS.
A number of other analysts also recently issued reports on the company. Stephens restated a “buy” rating on shares of Independent Bank Group in a research report on Wednesday, January 31st. Sandler O’Neill restated a “buy” rating on shares of Independent Bank Group in a research report on Wednesday, January 31st. BidaskClub lowered Independent Bank Group from a “buy” rating to a “hold” rating in a research note on Tuesday, January 30th. Finally, Zacks Investment Research lowered Independent Bank Group from a “buy” rating to a “hold” rating in a research note on Thursday, January 25th. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $73.57.
Independent Bank Group (NASDAQ:IBTX) last issued its quarterly earnings results on Monday, January 29th. The bank reported $0.90 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.93 by ($0.03). The company had revenue of $88.83 million during the quarter, compared to the consensus estimate of $83.85 million. Independent Bank Group had a return on equity of 8.26% and a net margin of 21.91%. During the same quarter in the prior year, the business earned $0.83 earnings per share.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 22nd. Shareholders of record on Monday, February 12th will be paid a $0.12 dividend. This is a positive change from Independent Bank Group’s previous quarterly dividend of $0.10. The ex-dividend date is Friday, February 9th. This represents a $0.48 dividend on an annualized basis and a yield of 0.68%. Independent Bank Group’s dividend payout ratio (DPR) is presently 13.38%.
In other Independent Bank Group news, Vice Chairman Daniel W. Brooks sold 25,000 shares of the stock in a transaction on 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 document filed with the SEC, which is available at this hyperlink. Company insiders own 7.70% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the business. Comerica Bank purchased a new stake in Independent Bank Group in the fourth quarter worth $219,000. BNP Paribas Arbitrage SA increased its stake in Independent Bank Group by 54.3% in the third 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. Virtu KCG Holdings LLC purchased a new stake in Independent Bank Group in the second quarter worth $251,000. Teacher Retirement System of Texas purchased a new stake in Independent Bank Group in the fourth quarter worth $301,000. Finally, Legal & General Group Plc increased its stake in Independent Bank Group by 66.9% in the second quarter. Legal & General Group Plc now owns 4,472 shares of the bank’s stock worth $266,000 after purchasing an additional 1,792 shares during the period. Institutional investors and hedge funds own 46.27% of the company’s stock.
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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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