Independent Bank Group Inc (NASDAQ:IBTX) has been given an average recommendation of “Hold” by the eight research firms that are presently covering the stock, Marketbeat.com reports. Three investment analysts have rated the stock with a sell recommendation, one has given a hold recommendation and four have given a buy recommendation to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $66.50.
A number of research firms have commented on IBTX. BidaskClub lowered shares of Independent Bank Group from a “hold” rating to a “sell” rating in a research note on Wednesday, December 5th. Raymond James raised Independent Bank Group from an “outperform” rating to a “strong-buy” rating in a research report on Thursday, October 4th. They noted that the move was a valuation call. ValuEngine cut Independent Bank Group from a “hold” rating to a “sell” rating in a research report on Monday, October 22nd. Zacks Investment Research cut Independent Bank Group from a “hold” rating to a “sell” rating in a research report on Friday, October 26th. Finally, SunTrust Banks set a $64.00 price objective on Independent Bank Group and gave the company a “hold” rating in a research report on Wednesday, October 24th.
NASDAQ IBTX opened at $49.64 on Friday. Independent Bank Group has a 52 week low of $44.14 and a 52 week high of $79.00. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.02 and a current ratio of 1.03. The firm has a market cap of $1.51 billion, a PE ratio of 14.39 and a beta of 1.35.
Independent Bank Group (NASDAQ:IBTX) last released its earnings results on Monday, October 22nd. The bank reported $1.20 earnings per share for the quarter, meeting the consensus estimate of $1.20. The firm had revenue of $99.02 million during the quarter, compared to analyst estimates of $96.47 million. Independent Bank Group had a net margin of 26.53% and a return on equity of 8.51%. During the same quarter in the previous year, the firm earned $0.89 earnings per share. As a group, equities research analysts anticipate that Independent Bank Group will post 4.55 earnings per share for the current year.
In other news, Vice Chairman Brian E. Hobart bought 1,781 shares of the company’s stock in a transaction that occurred on Tuesday, December 4th. The shares were acquired at an average price of $56.00 per share, with a total value of $99,736.00. Following the transaction, the insider now owns 122,405 shares in the company, valued at $6,854,680. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Craig E. Holmes purchased 500 shares of the stock in a transaction on Wednesday, December 12th. The shares were bought at an average cost of $51.56 per share, for a total transaction of $25,780.00. Following the transaction, the director now directly owns 15,066 shares in the company, valued at $776,802.96. The disclosure for this purchase can be found here. Over the last quarter, insiders purchased 14,471 shares of company stock valued at $767,858. Corporate insiders own 10.90% of the company’s stock.
Large investors have recently bought and sold shares of the business. Oppenheimer Asset Management Inc. acquired a new position in shares of Independent Bank Group during the 3rd quarter worth approximately $218,000. United Services Automobile Association acquired a new position in shares of Independent Bank Group during the 3rd quarter worth approximately $226,000. Janus Henderson Group PLC acquired a new position in shares of Independent Bank Group during the 3rd quarter worth approximately $244,000. Paloma Partners Management Co acquired a new position in shares of Independent Bank Group during the 3rd quarter worth approximately $313,000. Finally, Metropolitan Life Insurance Co. NY increased its position in shares of Independent Bank Group by 15.2% during the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 6,925 shares of the bank’s stock worth $463,000 after purchasing an additional 914 shares during the last quarter. 61.05% of the stock is currently owned by hedge funds and other institutional investors.
Independent Bank Group Company Profile
Independent Bank Group, Inc operates as the bank holding company for Independent Bank that provides a range of commercial banking products and services to businesses, professionals, and individuals in the United States. It offers various deposit products, including checking and savings accounts, demand accounts, money market accounts, and certificates of deposit, as well as individual retirement accounts.
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