Today, Q1 2017 EPS Estimates for Independent Bank Group Inc. Raised by SunTrust Banks (IBTX)

Today, Q1 2017 EPS Estimates for Independent Bank Group Inc. Raised by SunTrust Banks (IBTX)

Independent Bank Group Inc. (NASDAQ:IBTX) – Equities researchers at SunTrust Banks boosted their Q1 2017 earnings per share (EPS) estimates for Independent Bank Group in a research note issued on Tuesday. SunTrust Banks analyst M. Young now anticipates that the brokerage will post earnings of $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.

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

Shares of Independent Bank Group (NASDAQ:IBTX) opened at 60.20 on Thursday. The stock has a market cap of $1.11 billion, a PE ratio of 22.54 and a beta of 1.18. Independent Bank Group has a 52 week low of $25.50 and a 52 week high of $60.40. The firm has a 50-day moving average of $49.36 and a 200 day moving average of $43.44.

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

In related news, CEO David R. Brooks sold 16,077 shares of the firm’s stock in a transaction on Monday, November 14th. The shares were sold at an average price of $53.62, for a total transaction of $862,048.74. Following the sale, the chief executive officer now owns 800,382 shares in the company, valued at $42,916,482.84. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO David R. Brooks sold 63,923 shares of the firm’s stock in a transaction on Friday, November 11th. The shares were sold at an average price of $51.44, for a total transaction of $3,288,199.12. Following the sale, the chief executive officer now owns 860,382 shares in the company, valued at approximately $44,258,050.08. The disclosure for this sale can be found here. 16.20% of the stock is currently owned by insiders.

Hedge funds have recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD raised its stake in Independent Bank Group by 13.1% in the third quarter. Price T Rowe Associates Inc. MD now owns 621,290 shares of the company’s stock valued at $27,442,000 after buying an additional 72,040 shares in the last quarter. The Manufacturers Life Insurance Company purchased a new stake in Independent Bank Group during the third quarter valued at approximately $346,000. SECOR Capital Advisors LP raised its stake in Independent Bank Group by 8.6% in the third quarter. SECOR Capital Advisors LP now owns 34,455 shares of the company’s stock valued at $1,522,000 after buying an additional 2,742 shares in the last quarter. Spark Investment Management LLC purchased a new stake in Independent Bank Group during the third quarter valued at approximately $295,000. Finally, Northern Trust Corp raised its stake in Independent Bank Group by 3.6% in the third quarter. Northern Trust Corp now owns 125,801 shares of the company’s stock valued at $5,557,000 after buying an additional 4,377 shares in the last quarter. Institutional investors own 33.83% of the company’s stock.

Independent Bank Group Company Profile

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