Brokers Offer Predictions for Independent Bank Group Inc’s Q1 2018 Earnings (NASDAQ:IBTX)

Independent Bank Group Inc (NASDAQ:IBTX) – Research analysts at SunTrust Banks lifted their Q1 2018 earnings estimates for Independent Bank Group in a note issued to investors on Monday, Zacks Investment Research reports. SunTrust Banks analyst M. Young now expects that the bank will post earnings per share of $1.11 for the quarter, up from their previous estimate of $0.96. SunTrust Banks has a “Hold” rating and a $75.00 price target on the stock. SunTrust Banks also issued estimates for Independent Bank Group’s Q2 2018 earnings at $1.22 EPS, Q3 2018 earnings at $1.26 EPS, Q4 2018 earnings at $1.30 EPS, FY2018 earnings at $4.90 EPS and FY2019 earnings at $5.56 EPS.

Several other research analysts have also recently commented on the stock. BidaskClub upgraded shares of Independent Bank Group from a “hold” rating to a “buy” rating in a report on Wednesday, December 20th. Zacks Investment Research upgraded shares of Independent Bank Group from a “sell” rating to a “hold” rating in a report on Friday, October 6th. Piper Jaffray Companies restated a “buy” rating and set a $76.00 price objective on shares of Independent Bank Group in a research report on Thursday, October 19th. Finally, Keefe, Bruyette & Woods restated a “buy” rating and set a $71.00 price objective on shares of Independent Bank Group in a research report on Wednesday, October 4th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $72.86.

Independent Bank Group (NASDAQ IBTX) opened at $72.80 on Wednesday. The company has a current ratio of 1.04, a quick ratio of 1.03 and a debt-to-equity ratio of 0.55. Independent Bank Group has a twelve month low of $51.70 and a twelve month high of $74.70. The company has a market cap of $2,064.03, a P/E ratio of 23.48 and a beta of 1.31.

Independent Bank Group (NASDAQ:IBTX) last posted its quarterly earnings results on Monday, October 23rd. The bank reported $0.89 EPS for the quarter, topping the consensus estimate of $0.88 by $0.01. Independent Bank Group had a net margin of 23.46% and a return on equity of 8.11%. The company had revenue of $84.99 million during the quarter, compared to analysts’ expectations of $83.00 million. During the same quarter in the previous year, the business posted $0.78 EPS.

In related news, Vice Chairman Daniel W. Brooks sold 7,497 shares of the company’s stock in a transaction on Friday, October 20th. The shares were sold at an average price of $61.50, for a total value of $461,065.50. Following the completion of the sale, the insider now owns 142,332 shares in the company, valued at approximately $8,753,418. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Vice Chairman Brian E. Hobart sold 7,500 shares of the company’s stock in a transaction on Thursday, October 26th. The shares were sold at an average price of $65.00, for a total transaction of $487,500.00. Following the completion of the sale, the insider now owns 111,022 shares of the company’s stock, valued at approximately $7,216,430. The disclosure for this sale can be found here. Insiders have sold a total of 57,394 shares of company stock valued at $3,744,422 in the last 90 days. Insiders own 7.70% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in IBTX. Schwab Charles Investment Management Inc. raised its position in Independent Bank Group by 42.5% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 59,275 shares of the bank’s stock valued at $3,527,000 after purchasing an additional 17,666 shares during the last quarter. Rhumbline Advisers raised its position in Independent Bank Group by 55.2% in the 2nd quarter. Rhumbline Advisers now owns 20,151 shares of the bank’s stock valued at $1,199,000 after purchasing an additional 7,171 shares during the last quarter. Bank of New York Mellon Corp raised its position in Independent Bank Group by 11.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 92,662 shares of the bank’s stock valued at $5,513,000 after purchasing an additional 9,657 shares during the last quarter. Legal & General Group Plc raised its position in Independent Bank Group by 66.9% in the 2nd quarter. Legal & General Group Plc now owns 4,472 shares of the bank’s stock valued at $266,000 after purchasing an additional 1,792 shares during the last quarter. Finally, BNP Paribas Arbitrage SA raised its position in Independent Bank Group by 2,892.1% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 1,885 shares of the bank’s stock valued at $112,000 after purchasing an additional 1,822 shares during the last quarter. Hedge funds and other institutional investors own 47.72% of the company’s stock.

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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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