Independent Bank Group Inc. (NASDAQ:IBTX) has been given a consensus rating of “Buy” by the ten ratings firms that are covering the firm. Five investment analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $44.10.
Several equities analysts recently weighed in on the company. Keefe, Bruyette & Woods lifted their target price on Independent Bank Group from $40.00 to $47.00 and gave the company a “market perform” rating in a research report on Wednesday, July 27th. Raymond James Financial Inc. started coverage on Independent Bank Group in a research report on Thursday, July 7th. They set an “outperform” rating and a $44.00 target price on the stock. Hovde Group boosted their price objective on Independent Bank Group from $43.00 to $45.50 and gave the company a “market perform” rating in a research report on Wednesday, July 27th. Finally, Zacks Investment Research upgraded Independent Bank Group from a “hold” rating to a “buy” rating and set a $48.00 price objective on the stock in a research report on Thursday, June 30th.
In related news, Vice Chairman Brian E. Hobart sold 7,500 shares of the business’s stock in a transaction dated Monday, October 3rd. The stock was sold at an average price of $43.46, for a total value of $325,950.00. Following the sale, the insider now directly owns 168,319 shares in the company, valued at $7,315,143.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Jan C. Webb sold 5,000 shares of the business’s stock in a transaction dated Wednesday, October 12th. The stock was sold at an average price of $45.00, for a total value of $225,000.00. Following the completion of the sale, the executive vice president now owns 31,495 shares in the company, valued at $1,417,275. The disclosure for this sale can be found here. 16.20% of the stock is owned by corporate insiders.
Several large investors have recently bought and sold shares of IBTX. BlackRock Inc. increased its stake in 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 in the last quarter. Citadel Advisors LLC bought a new stake in shares of Independent Bank Group during the second quarter valued at $213,000. Parametric Portfolio Associates LLC bought a new stake in shares of Independent Bank Group during the second quarter valued at $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 valued at $228,000 after buying an additional 2,484 shares during the last quarter. Finally, American International Group Inc. boosted its stake in shares of Independent Bank Group by 12.6% in the second quarter. American International Group Inc. now owns 6,398 shares of the company’s stock valued at $275,000 after buying an additional 718 shares during the last quarter. Institutional investors own 33.92% of the company’s stock.
Independent Bank Group (NASDAQ:IBTX) traded up 0.89% during trading on Friday, reaching $45.55. The company had a trading volume of 37,502 shares. The firm’s 50 day moving average is $44.09 and its 200 day moving average is $39.30. The company has a market capitalization of $841.54 million, a PE ratio of 19.24 and a beta of 1.26. Independent Bank Group has a one year low of $25.50 and a one year high of $46.95.
Independent Bank Group (NASDAQ:IBTX) last released its earnings results on Monday, July 25th. The company reported $0.74 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.70 by $0.04. The company had revenue of $50.81 million for the quarter, compared to the consensus estimate of $50.21 million. Independent Bank Group had a return on equity of 7.64% and a net margin of 20.35%. Independent Bank Group’s revenue for the quarter was up 21.3% compared to the same quarter last year. On average, equities research analysts predict that Independent Bank Group will post $2.86 earnings per share for the current year.