Independent Bank Group Inc. (NASDAQ:IBTX) – Research analysts at SunTrust Banks lifted their Q1 2017 EPS estimates for shares of Independent Bank Group in a report issued on Tuesday. SunTrust Banks analyst M. Young now forecasts that the firm will earn $0.79 per share for the quarter, up from their prior estimate of $0.78. SunTrust Banks also issued estimates for Independent Bank Group’s Q3 2017 earnings at $0.92 EPS, FY2017 earnings at $3.52 EPS and FY2018 earnings at $4.20 EPS.

Independent Bank Group (NASDAQ:IBTX) last released its earnings results on Monday, October 24th. The company reported $0.78 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.76 by $0.02. Independent Bank Group had a net margin of 22.20% and a return on equity of 8.23%. During the same period last year, the business posted $0.47 EPS.

TRADEMARK VIOLATION WARNING: “Q1 2017 EPS Estimates for Independent Bank Group Inc. Raised by SunTrust Banks (IBTX)” was reported by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are viewing this piece on another website, it was copied illegally and republished in violation of international trademark and copyright legislation. The legal version of this piece can be read at https://www.thecerbatgem.com/2016/11/26/q1-2017-eps-estimates-for-independent-bank-group-inc-raised-by-suntrust-banks-ibtx.html.

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

A number of other analysts have also recently issued reports on IBTX. Zacks Investment Research cut Independent Bank Group from a “buy” rating to a “hold” rating in a research report on Wednesday, September 28th. Hovde Group boosted their price objective on Independent Bank Group from $50.00 to $61.00 and gave the company a “market perform” rating in a research report on Wednesday. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $46.57.

Independent Bank Group (NASDAQ:IBTX) opened at 60.20 on Thursday. The stock’s 50 day moving average is $49.36 and its 200 day moving average is $43.44. Independent Bank Group has a one year low of $25.50 and a one year high of $60.40. The stock has a market capitalization of $1.11 billion, a price-to-earnings ratio of 22.54 and a beta of 1.18.

The business also recently declared a quarterly dividend, which was paid on Friday, November 18th. Shareholders of record on Monday, November 7th were given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.66%. This is a boost from Independent Bank Group’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend was Thursday, November 3rd. Independent Bank Group’s dividend payout ratio is 14.98%.

In other Independent Bank Group news, Vice Chairman Daniel W. Brooks sold 5,000 shares of the company’s stock in a transaction on Tuesday, October 4th. The stock was sold at an average price of $44.00, for a total value of $220,000.00. Following the sale, the insider now directly owns 172,828 shares in the company, valued at $7,604,432. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Vice Chairman Brian E. Hobart sold 7,500 shares of the company’s stock in a transaction on Monday, October 3rd. The shares were sold at an average price of $43.46, for a total value of $325,950.00. Following the completion of the sale, the insider now owns 168,319 shares in the company, valued at $7,315,143.74. The disclosure for this sale can be found here. 16.20% of the stock is owned by company insiders.

TRADEMARK VIOLATION WARNING: “Q1 2017 EPS Estimates for Independent Bank Group Inc. Raised by SunTrust Banks (IBTX)” was reported by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are viewing this piece on another website, it was copied illegally and republished in violation of international trademark and copyright legislation. The legal version of this piece can be read at https://www.thecerbatgem.com/2016/11/26/q1-2017-eps-estimates-for-independent-bank-group-inc-raised-by-suntrust-banks-ibtx.html.

A number of hedge funds have recently made changes to their positions in IBTX. BlackRock Inc. boosted its stake in shares of Independent Bank Group by 378.3% in the second quarter. BlackRock Inc. now owns 2,803 shares of the company’s stock worth $120,000 after buying an additional 2,217 shares during the period. Citadel Advisors LLC bought a new stake in shares of Independent Bank Group during the second quarter worth $213,000. Parametric Portfolio Associates LLC bought a new stake in shares of Independent Bank Group during the second quarter worth $217,000. BlackRock Advisors LLC boosted its stake in shares of Independent Bank Group by 87.6% in the second quarter. BlackRock Advisors LLC now owns 5,318 shares of the company’s stock worth $228,000 after buying an additional 2,484 shares during the period. Finally, BlackRock Group LTD boosted its stake in shares of Independent Bank Group by 8.4% in the third quarter. BlackRock Group LTD now owns 5,483 shares of the company’s stock worth $242,000 after buying an additional 423 shares during the period. Hedge funds and other institutional investors own 33.83% of the company’s stock.

Independent Bank Group Company Profile

Independent Bank Group, Inc is a bank holding company. Through the Company’s subsidiary, Independent Bank (the Bank), it provides a range of commercial banking products and services tailored to meet the needs of businesses, professionals and individuals. Its commercial lending products include owner-occupied commercial real estate loans, interim construction loans, commercial loans to a mix of small and midsized businesses, and loans to professionals, particularly medical practices.

5 Day Chart for NASDAQ:IBTX

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