Q1 2017 EPS Estimates for Independent Bank Group Inc. Raised by SunTrust Banks (IBTX)
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.
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.
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.
Receive News & Stock 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 stocks with our FREE daily email newsletter.