Zacks: Analysts Expect Independent Bank Group, Inc (IBTX) to Post $0.89 EPS
Equities analysts expect that Independent Bank Group, Inc (NASDAQ:IBTX) will post earnings per share (EPS) of $0.89 for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for Independent Bank Group’s earnings, with the lowest EPS estimate coming in at $0.85 and the highest estimate coming in at $0.92. Independent Bank Group posted earnings per share of $0.78 in the same quarter last year, which suggests a positive year over year growth rate of 14.1%. The company is scheduled to issue its next earnings results on Monday, October 23rd.
On average, analysts expect that Independent Bank Group will report full year earnings of $3.35 per share for the current year, with EPS estimates ranging from $3.24 to $3.48. For the next year, analysts expect that the firm will report earnings of $4.18 per share, with EPS estimates ranging from $4.10 to $4.23. Zacks’ earnings per share averages are an average based on a survey of sell-side research firms that follow Independent Bank Group.
Independent Bank Group (NASDAQ:IBTX) last posted its earnings results on Monday, July 24th. The bank reported $0.82 EPS for the quarter, hitting the consensus estimate of $0.82. Independent Bank Group had a net margin of 23.52% and a return on equity of 8.43%. The firm had revenue of $80.50 million during the quarter, compared to analysts’ expectations of $81.31 million. During the same quarter in the prior year, the firm earned $0.74 EPS. Independent Bank Group’s quarterly revenue was up 58.4% on a year-over-year basis.
IBTX has been the subject of a number of analyst reports. Stephens reaffirmed a “buy” rating on shares of Independent Bank Group in a report on Monday, April 24th. Zacks Investment Research cut shares of Independent Bank Group from a “buy” rating to a “hold” rating in a research report on Thursday, April 27th. ValuEngine upgraded shares of Independent Bank Group from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. BidaskClub cut shares of Independent Bank Group from a “hold” rating to a “sell” rating in a research report on Saturday, June 24th. Finally, Sandler O’Neill upgraded shares of Independent Bank Group from a “hold” rating to a “buy” rating and set a $70.00 target price for the company in a research report on Monday, June 26th. Two analysts have rated the stock with a sell rating and five have given a buy rating to the company. Independent Bank Group has an average rating of “Hold” and an average price target of $69.60.
In related news, Director John Webb Jennings III sold 3,000 shares of the stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $61.78, for a total transaction of $185,340.00. Following the completion of the sale, the director now owns 38,350 shares in the company, valued at approximately $2,369,263. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 7.70% of the company’s stock.
Several large investors have recently made changes to their positions in the company. Stone Point Capital LLC bought a new stake in Independent Bank Group during the second quarter valued at $104,909,000. Vanguard Group Inc. boosted its stake in Independent Bank Group by 16.1% in the first quarter. Vanguard Group Inc. now owns 521,867 shares of the bank’s stock valued at $33,557,000 after buying an additional 72,484 shares during the last quarter. Alliancebernstein L.P. boosted its stake in Independent Bank Group by 2.2% in the first quarter. Alliancebernstein L.P. now owns 479,090 shares of the bank’s stock valued at $30,805,000 after buying an additional 10,453 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in Independent Bank Group by 3.9% in the first quarter. Goldman Sachs Group Inc. now owns 463,992 shares of the bank’s stock valued at $29,835,000 after buying an additional 17,550 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in Independent Bank Group by 25.6% in the first quarter. Dimensional Fund Advisors LP now owns 430,633 shares of the bank’s stock valued at $27,690,000 after buying an additional 87,826 shares during the last quarter. Institutional investors and hedge funds own 41.45% of the company’s stock.
Independent Bank Group (NASDAQ:IBTX) traded down 0.65% on Monday, reaching $61.45. 65,786 shares of the company’s stock traded hands. The firm’s 50-day moving average is $58.91 and its 200 day moving average is $60.97. Independent Bank Group has a 52-week low of $41.49 and a 52-week high of $66.85. The stock has a market capitalization of $1.71 billion, a PE ratio of 20.52 and a beta of 1.26.
The company also recently announced a quarterly dividend, which will be paid on Thursday, August 17th. Investors of record on Monday, August 7th will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.65%. The ex-dividend date is Thursday, August 3rd. Independent Bank Group’s dividend payout ratio (DPR) is currently 13.16%.
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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