Independent Bank Group, Inc (NASDAQ:IBTX) – SunTrust Banks reduced their Q4 2018 EPS estimates for Independent Bank Group in a research report issued to clients and investors on Monday. SunTrust Banks analyst M. Young now anticipates that the bank will earn $1.08 per share for the quarter, down from their previous estimate of $1.09.

Independent Bank Group (NASDAQ:IBTX) last announced its quarterly earnings results on Monday, July 24th. The bank reported $0.82 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.82. Independent Bank Group had a return on equity of 8.43% and a net margin of 23.52%. The business had revenue of $80.50 million during the quarter, compared to the consensus estimate of $81.31 million. During the same quarter last year, the firm posted $0.74 EPS. The company’s quarterly revenue was up 58.4% on a year-over-year basis.

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IBTX has been the topic of several other research reports. BidaskClub cut Independent Bank Group from a “hold” rating to a “sell” rating in a research report on Tuesday, August 22nd. Hovde Group raised Independent Bank Group from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $68.00 to $69.00 in a research report on Wednesday, July 26th. Keefe, Bruyette & Woods raised Independent Bank Group from a “market perform” rating to an “outperform” rating and set a $71.00 price objective on the stock in a research report on Wednesday, July 26th. Stephens reissued a “buy” rating and issued a $72.00 price objective on shares of Independent Bank Group in a research report on Tuesday, June 20th. Finally, Piper Jaffray Companies reissued a “buy” rating and issued a $76.00 price objective on shares of Independent Bank Group in a research report on Friday, September 1st. Two equities research analysts have rated the stock with a sell rating and six have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $70.67.

Shares of Independent Bank Group (NASDAQ IBTX) traded up 0.219% during midday trading on Wednesday, reaching $57.325. The company’s stock had a trading volume of 12,369 shares. Independent Bank Group has a one year low of $43.00 and a one year high of $66.85. The stock has a market cap of $1.59 billion, a PE ratio of 19.147 and a beta of 1.27. The firm has a 50-day moving average of $57.24 and a 200-day moving average of $59.43.

In other news, Director John Webb Jennings III sold 3,000 shares of the company’s stock in a transaction on Monday, August 7th. The stock was sold at an average price of $61.78, for a total transaction of $185,340.00. Following the transaction, the director now owns 38,350 shares of the company’s stock, valued at approximately $2,369,263. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 7.70% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently modified their holdings of the company. BNP Paribas Arbitrage SA lifted its position in shares of Independent Bank Group by 2,892.1% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 1,885 shares of the bank’s stock valued at $112,000 after buying an additional 1,822 shares during the last quarter. Public Employees Retirement System of Ohio lifted its position in shares of Independent Bank Group by 16.2% during the 1st quarter. Public Employees Retirement System of Ohio now owns 2,790 shares of the bank’s stock valued at $179,000 after buying an additional 389 shares during the last quarter. Karp Capital Management Corp purchased a new position in shares of Independent Bank Group during the 1st quarter valued at $202,000. Virtu KCG Holdings LLC purchased a new position in shares of Independent Bank Group during the 2nd quarter valued at $251,000. Finally, Airain ltd purchased a new position in shares of Independent Bank Group during the 2nd quarter valued at $256,000. 46.49% of the stock is currently owned by hedge funds and other institutional investors.

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.

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

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