Independent Bank Group, Inc (NASDAQ:IBTX) Releases Quarterly Earnings Results, Beats Expectations By $0.01 EPS
Independent Bank Group, Inc (NASDAQ:IBTX) released its earnings results on Monday. The bank reported $0.82 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.81 by $0.01, Briefing.com reports. Independent Bank Group had a net margin of 24.24% and a return on equity of 9.08%. The company had revenue of $80.50 million during the quarter, compared to the consensus estimate of $81.31 million. During the same quarter in the previous year, the firm earned $0.74 EPS. The company’s revenue was up 58.4% on a year-over-year basis.
Independent Bank Group (NASDAQ IBTX) traded up 2.00% on Monday, hitting $58.65. 105,795 shares of the stock traded hands. The firm has a market cap of $1.63 billion, a price-to-earnings ratio of 19.35 and a beta of 1.26. The stock has a 50-day moving average of $58.61 and a 200-day moving average of $61.12. Independent Bank Group has a 12-month low of $34.00 and a 12-month high of $66.85.
Several research analysts have recently commented on the stock. BidaskClub lowered shares of Independent Bank Group from a “hold” rating to a “sell” rating in a report on Wednesday, July 19th. Stephens reaffirmed a “buy” rating and issued a $72.00 price target on shares of Independent Bank Group in a report on Tuesday, June 20th. Zacks Investment Research lowered shares of Independent Bank Group from a “buy” rating to a “hold” rating in a report on Thursday, April 27th. Sandler O’Neill raised 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 report on Monday, June 26th. Finally, ValuEngine raised shares of Independent Bank Group from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. Independent Bank Group has an average rating of “Hold” and an average target price of $63.40.
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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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