Independent Bank Group, Inc (IBTX) Receives Consensus Rating of “Buy” from Analysts
Shares of Independent Bank Group, Inc (NASDAQ:IBTX) have earned an average rating of “Buy” from the eight research firms that are covering the firm, Marketbeat reports. One investment analyst has rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $71.40.
Several research analysts have weighed in on the stock. BidaskClub cut shares of Independent Bank Group from a “hold” rating to a “sell” rating in a report on Tuesday, August 22nd. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $71.00 price target on shares of Independent Bank Group in a report on Wednesday, October 4th. Piper Jaffray Companies reissued a “buy” rating and issued a $76.00 price target on shares of Independent Bank Group in a report on Thursday, October 19th. Finally, Zacks Investment Research raised shares of Independent Bank Group from a “sell” rating to a “hold” rating in a report on Friday, October 6th.
In other news, Vice Chairman Daniel W. Brooks sold 7,503 shares of the firm’s stock in a transaction that occurred on Friday, October 13th. The shares were sold at an average price of $60.67, for a total transaction of $455,207.01. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Vice Chairman Daniel W. Brooks sold 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $68.30, for a total transaction of $1,707,500.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 87,397 shares of company stock worth $5,565,604. Insiders own 7.70% of the company’s stock.
Shares of Independent Bank Group (NASDAQ:IBTX) opened at $68.35 on Thursday. Independent Bank Group has a one year low of $51.70 and a one year high of $70.75. The stock has a market cap of $1,923.05, a PE ratio of 20.18 and a beta of 1.31. The company has a quick ratio of 1.03, a current ratio of 1.04 and a debt-to-equity ratio of 0.55.
Independent Bank Group (NASDAQ:IBTX) last issued its earnings results on Monday, October 23rd. The bank reported $0.89 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.88 by $0.01. The business had revenue of $84.99 million during the quarter, compared to the consensus estimate of $83.00 million. Independent Bank Group had a net margin of 23.46% and a return on equity of 8.11%. During the same period last year, the business posted $0.78 EPS. equities analysts predict that Independent Bank Group will post 3.47 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, November 16th. Shareholders of record on Monday, November 6th were issued a $0.10 dividend. The ex-dividend date of this dividend was Friday, November 3rd. This represents a $0.40 annualized dividend and a yield of 0.59%. Independent Bank Group’s dividend payout ratio is currently 12.90%.
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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