Wall Street brokerages expect Independent Bank Group, Inc (NASDAQ:IBTX) to report earnings per share of $0.82 for the current quarter, according to Zacks. Two analysts have issued estimates for Independent Bank Group’s earnings, with the highest EPS estimate coming in at $0.86 and the lowest estimate coming in at $0.79. Independent Bank Group reported earnings per share of $0.74 in the same quarter last year, which would suggest a positive year over year growth rate of 10.8%. The company is scheduled to issue its next earnings report after the market closes on Monday, July 24th.

On average, analysts expect that Independent Bank Group will report full year earnings of $3.49 per share for the current financial year, with EPS estimates ranging from $3.37 to $3.60. For the next financial year, analysts expect that the firm will report earnings of $4.20 per share, with EPS estimates ranging from $4.16 to $4.25. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side analysts that cover Independent Bank Group.

Independent Bank Group (NASDAQ:IBTX) last issued its earnings results on Monday, April 24th. The bank reported $0.84 EPS for the quarter, topping the Zacks’ consensus estimate of $0.81 by $0.03. The business had revenue of $52.45 million for the quarter, compared to the consensus estimate of $52 million. Independent Bank Group had a net margin of 24.24% and a return on equity of 9.08%. During the same period in the prior year, the firm earned $0.67 EPS.

A number of equities research analysts have weighed in on IBTX shares. Stephens set a $72.00 price target on shares of Independent Bank Group and gave the company a “buy” rating in a research report on Monday, June 26th. Sandler O’Neill upgraded shares of Independent Bank Group from a “hold” rating to a “buy” rating and set a $70.00 price target for the company in a research report on Monday, June 26th. Zacks Investment Research upgraded shares of Independent Bank Group from a “hold” rating to a “buy” rating and set a $67.00 price target for the company in a research report on Tuesday, March 28th. ValuEngine upgraded shares of Independent Bank Group from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. Finally, BidaskClub cut shares of Independent Bank Group from a “hold” rating to a “sell” rating in a report on Saturday, June 24th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company’s stock. Independent Bank Group currently has a consensus rating of “Hold” and an average price target of $63.40.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Envestnet Asset Management Inc. boosted its position in shares of Independent Bank Group by 51.3% in the first quarter. Envestnet Asset Management Inc. now owns 6,544 shares of the bank’s stock worth $420,000 after buying an additional 2,218 shares during the period. Dimensional Fund Advisors LP boosted its position 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 period. Russell Investments Group Ltd. acquired a new position in shares of Independent Bank Group during the fourth quarter worth $2,533,000. Wells Fargo & Company MN boosted its position in shares of Independent Bank Group by 18.5% in the first quarter. Wells Fargo & Company MN now owns 30,599 shares of the bank’s stock worth $1,968,000 after buying an additional 4,775 shares during the period. Finally, Teachers Advisors LLC boosted its position in shares of Independent Bank Group by 27.8% in the fourth quarter. Teachers Advisors LLC now owns 22,852 shares of the bank’s stock worth $1,426,000 after buying an additional 4,969 shares during the period. Hedge funds and other institutional investors own 33.17% of the company’s stock.

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Shares of Independent Bank Group (NASDAQ:IBTX) traded down 0.51% during trading on Tuesday, reaching $58.50. 35,563 shares of the company’s stock were exchanged. The stock has a market cap of $1.63 billion, a P/E ratio of 19.30 and a beta of 1.26. Independent Bank Group has a 12-month low of $34.00 and a 12-month high of $66.85. The company has a 50 day moving average of $58.58 and a 200 day moving average of $61.47.

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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Earnings History and Estimates for Independent Bank Group (NASDAQ:IBTX)

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