Independent Bank Group Inc (NASDAQ:IBTX)‘s stock had its “buy” rating reaffirmed by stock analysts at Stephens in a research report issued to clients and investors on Monday, April 24th.
Separately, Zacks Investment Research upgraded Independent Bank Group from a “strong sell” rating to a “hold” rating in a research note on Friday, March 17th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $53.60.
Independent Bank Group (NASDAQ:IBTX) opened at 59.70 on Monday. The stock has a market capitalization of $1.66 billion, a PE ratio of 19.70 and a beta of 1.30. The stock has a 50 day moving average price of $60.70 and a 200 day moving average price of $61.35. Independent Bank Group has a 12 month low of $34.00 and a 12 month high of $66.85.
Independent Bank Group (NASDAQ:IBTX) last posted its quarterly earnings data on Monday, April 24th. The bank reported $0.84 EPS for the quarter, topping the consensus estimate of $0.81 by $0.03. The firm had revenue of $52.45 million during the quarter, compared to analyst estimates of $52 million. Independent Bank Group had a return on equity of 8.93% and a net margin of 23.32%. During the same period in the prior year, the business posted $0.67 EPS. On average, equities research analysts forecast that Independent Bank Group will post $3.46 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, May 18th. Shareholders of record on Monday, May 8th were paid a $0.10 dividend. The ex-dividend date of this dividend was Thursday, May 4th. This represents a $0.40 dividend on an annualized basis and a yield of 0.67%. Independent Bank Group’s payout ratio is presently 13.89%.
A number of large investors have recently modified their holdings of the company. Two Sigma Investments LP acquired a new stake in shares of Independent Bank Group during the fourth quarter worth about $3,868,000. Capstone Investment Advisors LLC acquired a new stake in shares of Independent Bank Group during the fourth quarter worth about $349,000. Cortina Asset Management LLC acquired a new stake in shares of Independent Bank Group during the fourth quarter worth about $4,337,000. Dimensional Fund Advisors LP raised its stake in shares of Independent Bank Group by 37.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 342,807 shares of the bank’s stock worth $21,391,000 after buying an additional 93,002 shares during the last quarter. Finally, State Street Corp raised its stake in shares of Independent Bank Group by 66.3% in the fourth quarter. State Street Corp now owns 289,139 shares of the bank’s stock worth $18,045,000 after buying an additional 115,289 shares during the last quarter. Institutional investors and hedge funds own 33.73% 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.
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