Independent Bank Group (IBTX) Set to Announce Quarterly Earnings on Tuesday

Independent Bank Group (NASDAQ:IBTX) is set to release its earnings data on Tuesday, January 23rd. Analysts expect Independent Bank Group to post earnings of $0.95 per share for the quarter.

Independent Bank Group (NASDAQ:IBTX) last issued its quarterly earnings results on Monday, October 23rd. The bank reported $0.89 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.88 by $0.01. The company had revenue of $84.99 million for 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 in the previous year, the firm earned $0.78 EPS. On average, analysts expect Independent Bank Group to post $3 EPS for the current fiscal year and $5 EPS for the next fiscal year.

Independent Bank Group (IBTX) opened at $73.20 on Tuesday. The company has a quick ratio of 1.03, a current ratio of 1.04 and a debt-to-equity ratio of 0.55. The firm has a market cap of $2,060.00, a PE ratio of 25.15 and a beta of 1.31. Independent Bank Group has a fifty-two week low of $51.70 and a fifty-two week high of $73.50.

In other Independent Bank Group news, Vice Chairman Daniel W. Brooks sold 25,000 shares of the company’s stock in a transaction dated Thursday, November 30th. The shares were sold at an average price of $68.30, for a total transaction of $1,707,500.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Vice Chairman Daniel W. Brooks sold 7,497 shares of the company’s stock in a transaction dated Friday, October 20th. The shares were sold at an average price of $61.50, for a total transaction of $461,065.50. Following the sale, the insider now directly owns 142,332 shares in the company, valued at $8,753,418. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 57,394 shares of company stock worth $3,744,422. Insiders own 7.70% of the company’s stock.

A number of brokerages recently weighed in on IBTX. SunTrust Banks reissued a “hold” rating and issued a $75.00 price target on shares of Independent Bank Group in a report on Tuesday, January 9th. Zacks Investment Research raised shares of Independent Bank Group from a “hold” rating to a “buy” rating and set a $78.00 price target on the stock in a report on Wednesday, January 10th. 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, BidaskClub downgraded shares of Independent Bank Group from a “buy” rating to a “hold” rating in a report on Wednesday, December 27th. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Independent Bank Group currently has an average rating of “Buy” and a consensus target price of $72.86.

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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.

Earnings History for Independent Bank Group (NASDAQ:IBTX)

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