Independent Bank Group, Inc (IBTX) Issues Quarterly Earnings Results, Beats Estimates By $0.01 EPS
Independent Bank Group, Inc (NASDAQ:IBTX) posted its quarterly earnings results on Monday. The bank reported $0.89 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.88 by $0.01, Bloomberg Earnings reports. Independent Bank Group had a net margin of 23.52% and a return on equity of 8.43%. During the same quarter last year, the company earned $0.78 earnings per share.
Shares of Independent Bank Group (NASDAQ IBTX) traded down 0.16% during trading on Monday, reaching $60.95. 82,238 shares of the company’s stock were exchanged. The firm has a market cap of $1.69 billion, a price-to-earnings ratio of 20.36 and a beta of 1.29. The stock has a 50-day moving average price of $58.74 and a 200 day moving average price of $59.09. Independent Bank Group has a 12 month low of $44.00 and a 12 month high of $66.85.
In other Independent Bank Group news, Vice Chairman Daniel W. Brooks sold 7,503 shares of the business’s stock in a transaction dated Friday, October 13th. The stock was sold at an average price of $60.67, for a total transaction of $455,207.01. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director John Webb Jennings III sold 3,000 shares of the business’s stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $61.78, for a total value of $185,340.00. Following the sale, the director now owns 38,350 shares of the company’s stock, valued at $2,369,263. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 33,003 shares of company stock valued at $2,006,522. Corporate insiders own 7.70% of the company’s stock.
ILLEGAL ACTIVITY NOTICE: “Independent Bank Group, Inc (IBTX) Issues Quarterly Earnings Results, Beats Estimates By $0.01 EPS” was posted by American Banking News and is owned by of American Banking News. If you are reading this news story on another domain, it was stolen and republished in violation of U.S. & international trademark & copyright law. The original version of this news story can be read at https://www.americanbankingnews.com/2017/10/23/independent-bank-group-inc-ibtx-issues-quarterly-earnings-results-beats-estimates-by-0-01-eps.html.
Several equities analysts recently weighed in on the stock. Stephens restated a “buy” rating and set a $71.00 price target on shares of Independent Bank Group in a research report on Tuesday, July 25th. Piper Jaffray Companies restated a “buy” rating and set a $76.00 price target on shares of Independent Bank Group in a research report on Friday, September 1st. Hovde Group upgraded shares of Independent Bank Group from a “market perform” rating to an “outperform” rating and increased their price target for the company from $68.00 to $69.00 in a research report on Wednesday, July 26th. Keefe, Bruyette & Woods upgraded shares of Independent Bank Group from a “market perform” rating to an “outperform” rating and set a $71.00 price target for the company in a research report on Wednesday, July 26th. Finally, BidaskClub lowered shares of Independent Bank Group from a “hold” rating to a “sell” rating in a research report on Wednesday, July 19th. One research analyst has rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $71.40.
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.
Receive News & Ratings for Independent Bank Group Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Independent Bank Group Inc and related companies with MarketBeat.com's FREE daily email newsletter.