Independent Bank Group Inc (NASDAQ:IBTX) – SunTrust Banks decreased their Q1 2018 earnings per share estimates for shares of Independent Bank Group in a research note issued to investors on Wednesday. SunTrust Banks analyst M. Young now expects that the bank will earn $1.08 per share for the quarter, down from their prior estimate of $1.11. SunTrust Banks has a “Neutral” rating on the stock. SunTrust Banks also issued estimates for Independent Bank Group’s Q2 2018 earnings at $1.17 EPS, Q3 2018 earnings at $1.23 EPS, Q4 2018 earnings at $1.24 EPS, FY2018 earnings at $4.72 EPS and FY2019 earnings at $5.44 EPS.
Independent Bank Group (NASDAQ:IBTX) last announced its quarterly earnings data on Monday, January 29th. The bank reported $0.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.93 by ($0.03). The company had revenue of $88.83 million during the quarter, compared to analyst estimates of $83.85 million. Independent Bank Group had a net margin of 21.91% and a return on equity of 8.26%. During the same quarter in the previous year, the business posted $0.83 earnings per share.
Shares of Independent Bank Group (NASDAQ:IBTX) opened at $71.80 on Monday. The stock has a market capitalization of $2,028.71, a price-to-earnings ratio of 24.01 and a beta of 1.29. 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 has a 52 week low of $51.70 and a 52 week high of $75.95.
Several hedge funds have recently modified their holdings of IBTX. BNP Paribas Arbitrage SA grew its holdings in shares of Independent Bank Group by 54.3% during the third quarter. BNP Paribas Arbitrage SA now owns 2,908 shares of the bank’s stock worth $175,000 after buying an additional 1,023 shares during the last quarter. Comerica Bank purchased a new position in shares of Independent Bank Group during the fourth quarter worth about $219,000. Virtu KCG Holdings LLC purchased a new position in shares of Independent Bank Group during the second quarter worth about $251,000. Legal & General Group Plc grew its holdings in shares of Independent Bank Group by 66.9% during the second quarter. Legal & General Group Plc now owns 4,472 shares of the bank’s stock worth $266,000 after buying an additional 1,792 shares during the last quarter. Finally, Yorktown Management & Research Co Inc purchased a new position in shares of Independent Bank Group during the third quarter worth about $323,000. 47.71% of the stock is currently owned by institutional investors.
In other Independent Bank Group news, Vice Chairman Daniel W. Brooks sold 25,000 shares of the firm’s stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $68.30, for a total transaction of $1,707,500.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 7.70% of the company’s stock.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 22nd. Shareholders of record on Monday, February 12th will be paid a $0.12 dividend. The ex-dividend date is Friday, February 9th. This is a boost from Independent Bank Group’s previous quarterly dividend of $0.10. This represents a $0.48 dividend on an annualized basis and a yield of 0.67%. Independent Bank Group’s dividend payout ratio (DPR) is currently 13.38%.
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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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