Independent Bank Group, Inc (NASDAQ:IBTX) – Analysts at SunTrust Banks lowered their Q4 2018 earnings per share estimates for Independent Bank Group in a research report issued to clients and investors on Monday. 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 $1.09.

IBTX has been the topic of a number of other research reports. BidaskClub downgraded shares of Independent Bank Group from a “hold” rating to a “sell” rating in a research note on Tuesday, August 22nd. Hovde Group raised shares of Independent Bank Group from a “market perform” rating to an “outperform” rating and raised their target price for the company from $68.00 to $69.00 in a research note on Wednesday, July 26th. Keefe, Bruyette & Woods raised shares of Independent Bank Group from a “market perform” rating to an “outperform” rating and set a $71.00 target price on the stock in a research note on Wednesday, July 26th. Stephens reissued a “buy” rating and issued a $72.00 target price on shares of Independent Bank Group in a research note on Tuesday, June 20th. Finally, Piper Jaffray Companies reissued a “buy” rating and issued a $76.00 target price on shares of Independent Bank Group in a research note on Friday, September 1st. Two equities research analysts have rated the stock with a sell rating and six have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $70.67.

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Independent Bank Group (NASDAQ IBTX) traded up 1.21% during trading on Wednesday, hitting $58.40. 37,128 shares of the company’s stock traded hands. The stock has a market cap of $1.62 billion, a P/E ratio of 19.51 and a beta of 1.27. The firm’s 50-day moving average price is $57.24 and its 200 day moving average price is $59.43. Independent Bank Group has a 12-month low of $43.00 and a 12-month high of $66.85.

Independent Bank Group (NASDAQ:IBTX) last posted its quarterly earnings results on Monday, July 24th. The bank reported $0.82 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.82. The business had revenue of $80.50 million during the quarter, compared to the consensus estimate of $81.31 million. Independent Bank Group had a net margin of 23.52% and a return on equity of 8.43%. The company’s quarterly revenue was up 58.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.74 earnings per share.

In related news, Director John Webb Jennings III sold 3,000 shares of the firm’s stock in a transaction on Monday, August 7th. The shares were sold at an average price of $61.78, for a total transaction of $185,340.00. Following the completion of the sale, the director now directly owns 38,350 shares of the company’s stock, valued at approximately $2,369,263. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 7.70% of the stock is currently owned by company insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BNP Paribas Arbitrage SA grew its holdings in Independent Bank Group by 2,892.1% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 1,885 shares of the bank’s stock valued at $112,000 after purchasing an additional 1,822 shares in the last quarter. Public Employees Retirement System of Ohio grew its holdings in Independent Bank Group by 16.2% during the 1st quarter. Public Employees Retirement System of Ohio now owns 2,790 shares of the bank’s stock valued at $179,000 after purchasing an additional 389 shares in the last quarter. Karp Capital Management Corp acquired a new stake in Independent Bank Group during the 1st quarter valued at $202,000. Virtu KCG Holdings LLC acquired a new stake in Independent Bank Group during the 2nd quarter valued at $251,000. Finally, Airain ltd acquired a new stake in Independent Bank Group during the 2nd quarter valued at $256,000. 46.49% of the stock is owned by institutional investors and hedge funds.

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 and Estimates for Independent Bank Group (NASDAQ:IBTX)

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