Independent Bank Group, Inc (IBTX) Posts Earnings Results, Meets Expectations

Independent Bank Group, Inc (NASDAQ:IBTX) released its earnings results on Monday, July 24th. The bank reported $0.82 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.82, Briefing.com reports. Independent Bank Group had a net margin of 23.52% and a return on equity of 8.43%. The business had revenue of $80.50 million during the quarter, compared to analysts’ expectations of $81.31 million. During the same quarter last year, the company earned $0.74 earnings per share. The firm’s revenue was up 58.4% on a year-over-year basis.

Shares of Independent Bank Group (IBTX) traded down 0.27% on Friday, reaching $55.65. 106,280 shares of the company’s stock were exchanged. The firm’s 50-day moving average price is $59.24 and its 200 day moving average price is $60.71. Independent Bank Group has a 12 month low of $42.73 and a 12 month high of $66.85. The company has a market cap of $1.55 billion, a price-to-earnings ratio of 18.59 and a beta of 1.26.

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 17th. Shareholders of record on Monday, August 7th were paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.72%. The ex-dividend date of this dividend was Thursday, August 3rd. Independent Bank Group’s dividend payout ratio is 13.16%.

In other Independent Bank Group news, Director John Webb Jennings III sold 3,000 shares of the stock in a transaction that occurred 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 transaction, the director now owns 38,350 shares in the company, valued at approximately $2,369,263. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 7.70% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. BNP Paribas Arbitrage SA raised its position in shares of Independent Bank Group by 2,892.1% in the second quarter. BNP Paribas Arbitrage SA now owns 1,885 shares of the bank’s stock worth $112,000 after buying an additional 1,822 shares during the last quarter. Acrospire Investment Management LLC raised its position in shares of Independent Bank Group by 108.5% in the first quarter. Acrospire Investment Management LLC now owns 2,498 shares of the bank’s stock worth $161,000 after buying an additional 1,300 shares during the last quarter. Public Employees Retirement System of Ohio raised its position in shares of Independent Bank Group by 16.2% in the first quarter. Public Employees Retirement System of Ohio now owns 2,790 shares of the bank’s stock worth $179,000 after buying an additional 389 shares during the last quarter. Karp Capital Management Corp acquired a new position in shares of Independent Bank Group during the first quarter worth about $202,000. Finally, Virtu KCG Holdings LLC acquired a new position in shares of Independent Bank Group during the second quarter worth about $251,000. Hedge funds and other institutional investors own 41.47% of the company’s stock.

TRADEMARK VIOLATION WARNING: This piece of content was reported by Community Financial News and is the property of of Community Financial News. If you are accessing this piece of content on another domain, it was illegally stolen and republished in violation of U.S. & international copyright and trademark laws. The legal version of this piece of content can be accessed at https://www.com-unik.info/2017/08/19/independent-bank-group-inc-ibtx-announces-earnings-results-beats-expectations-by-0-01-eps-updated-updated-updated.html.

IBTX has been the subject of several research reports. Sandler O’Neill upgraded shares of Independent Bank Group from a “hold” rating to a “buy” rating and set a $70.00 target price for the company in a research note on Monday, June 26th. BidaskClub cut shares of Independent Bank Group from a “hold” rating to a “sell” rating in a research note on Wednesday, July 19th. Stephens reiterated a “buy” rating on shares of Independent Bank Group in a research note on Monday, April 24th. Keefe, Bruyette & Woods upgraded shares of Independent Bank Group from a “market perform” rating to an “outperform” rating and set a $71.00 target price for the company in a research note on Wednesday, July 26th. Finally, ValuEngine upgraded shares of Independent Bank Group from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. Two research analysts have rated the stock with a sell rating and five have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $69.60.

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 for Independent Bank Group (NASDAQ:IBTX)

What are top analysts saying about Independent Bank Group Inc? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Independent Bank Group Inc and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit