Several brokerages have updated their recommendations and price targets on shares of Independent Bank Group (NASDAQ: IBTX) in the last few weeks:

  • 6/29/2017 – Independent Bank Group was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “Independent Bank Group, Inc. is a bank holding company that conducts its business activities through its subsidiary, Independent Bank. The company offers personal and commercial banking services to businesses, professionals and individuals. Its services includes checking accounts, savings accounts, commercial real estate loans, interim construction loans, loans to professionals, residential first and second mortgage loans , loans to purchase cars, boats and other recreational vehicles. Independent Bank Group, Inc. is headquartered in McKinney, Texas. “
  • 6/26/2017 – Independent Bank Group was upgraded by analysts at Sandler O’Neill from a “hold” rating to a “buy” rating. They now have a $70.00 price target on the stock.
  • 6/26/2017 – Independent Bank Group was given a new $72.00 price target on by analysts at Stephens. They now have a “buy” rating on the stock.
  • 6/24/2017 – Independent Bank Group was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating.
  • 6/20/2017 – Independent Bank Group had its “buy” rating reaffirmed by analysts at Stephens. They now have a $72.00 price target on the stock. They wrote, “We view IBTX as one of the premier Texas banks with a long runway of growth potential as the Company maintains a robust loan pipeline and the infrastructure/personnel in place to grow past the $10 billion asset threshold. IBTX is well positioned for additional M&A announcements (not in our forecast) due to its successful M&A track record, advantageous currency (2.7x tbv) and our channel checks of steady M&A dialogue in the Southwest Markets. We expect profitability improvement to 1.20%+ ROA with full integration of its recently closed Carlile acquisition. We believe the stock’s recent under-performance (-12% vs peers -2% over last 3 months) represents an attractive entry point for growth investors.””
  • 6/2/2017 – Independent Bank Group was upgraded by analysts at ValuEngine from a “hold” rating to a “buy” rating.

Independent Bank Group, Inc (IBTX) traded up 0.84% during trading on Friday, reaching $59.90. The company’s stock had a trading volume of 32,806 shares. The stock’s 50 day moving average is $58.58 and its 200-day moving average is $61.47. The firm has a market cap of $1.66 billion, a P/E ratio of 19.76 and a beta of 1.26. Independent Bank Group, Inc has a 52 week low of $34.00 and a 52 week high of $66.85.

Independent Bank Group (NASDAQ:IBTX) last posted its quarterly earnings data on Monday, April 24th. The bank reported $0.84 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.81 by $0.03. The business had revenue of $52.45 million during the quarter, compared to the consensus estimate of $52 million. Independent Bank Group had a return on equity of 9.08% and a net margin of 24.24%. During the same period last year, the company earned $0.67 earnings per share. On average, equities research analysts forecast that Independent Bank Group, Inc will post $3.48 earnings per share for the current fiscal year.

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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