Brokerages Set Independent Bank Group Inc (IBTX) Price Target at $71.40
Independent Bank Group Inc (NASDAQ:IBTX) has been assigned a consensus recommendation of “Buy” from the eight analysts that are covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $71.40.
IBTX has been the subject of a number of research reports. BidaskClub upgraded shares of Independent Bank Group from a “hold” rating to a “buy” rating in a research report on Saturday, December 2nd. Zacks Investment Research upgraded shares of Independent Bank Group from a “sell” rating to a “hold” rating in a research report on Friday, October 6th. Piper Jaffray Companies reiterated a “buy” rating and set a $76.00 price target on shares of Independent Bank Group in a research report on Thursday, October 19th. Finally, Keefe, Bruyette & Woods reiterated a “buy” rating and set a $71.00 price target on shares of Independent Bank Group in a research report on Wednesday, October 4th.
In other news, Vice Chairman Daniel W. Brooks sold 7,503 shares of Independent Bank Group stock in a transaction that occurred on Friday, October 13th. The shares were sold at an average price of $60.67, for a total transaction of $455,207.01. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Vice Chairman Daniel W. Brooks sold 17,397 shares of Independent Bank Group stock in a transaction that occurred on Tuesday, October 24th. The shares were sold at an average price of $62.56, for a total transaction of $1,088,356.32. Following the sale, the insider now owns 142,332 shares of the company’s stock, valued at $8,904,289.92. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 87,397 shares of company stock valued at $5,565,604. Insiders own 7.70% of the company’s stock.
Shares of Independent Bank Group (NASDAQ:IBTX) traded up $0.20 on Monday, reaching $69.10. The company’s stock had a trading volume of 92,536 shares, compared to its average volume of 125,556. Independent Bank Group has a 12 month low of $51.70 and a 12 month high of $72.28. The stock has a market cap of $1,950.00, a price-to-earnings ratio of 23.75 and a beta of 1.31. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.04 and a quick ratio of 1.03.
Independent Bank Group (NASDAQ:IBTX) last announced its quarterly earnings data on Monday, October 23rd. The bank reported $0.89 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.88 by $0.01. Independent Bank Group had a return on equity of 8.11% and a net margin of 23.46%. The company had revenue of $84.99 million for the quarter, compared to analyst estimates of $83.00 million. During the same quarter in the previous year, the company earned $0.78 EPS. equities analysts predict that Independent Bank Group will post 3.47 EPS for the current fiscal year.
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.
Receive News & Ratings for Independent Bank Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Independent Bank Group and related companies with MarketBeat.com's FREE daily email newsletter.