According to Zacks, “Independent Bank Group, Inc. is a bank holding company that conducts its business activities through its subsidiary, Independent Bank. The company offers personal and commercial banking services to businesses, professionals and individuals. Its services includes checking accounts, savings accounts, commercial real estate loans, interim construction loans, loans to professionals, residential first and second mortgage loans , loans to purchase cars, boats and other recreational vehicles. Independent Bank Group, Inc. is headquartered in McKinney, Texas. “
A number of other equities analysts have also issued reports on IBTX. BidaskClub lowered Independent Bank Group from a sell rating to a strong sell rating in a research note on Wednesday. Stephens restated a buy rating and issued a $67.00 target price on shares of Independent Bank Group in a research note on Monday, May 20th. Finally, ValuEngine upgraded Independent Bank Group from a strong sell rating to a sell rating in a research note on Friday, May 24th. Two analysts have rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the stock. The company currently has a consensus rating of Hold and a consensus price target of $63.00.
Independent Bank Group (NASDAQ:IBTX) last issued its earnings results on Monday, July 22nd. The bank reported $1.22 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.27 by ($0.05). The firm had revenue of $145.84 million during the quarter, compared to analysts’ expectations of $138.67 million. Independent Bank Group had a return on equity of 9.18% and a net margin of 26.06%. As a group, equities research analysts expect that Independent Bank Group will post 5.15 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Monday, August 5th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, August 2nd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.00%. Independent Bank Group’s payout ratio is currently 22.42%.
In other Independent Bank Group news, Director G Stacy Smith sold 135,000 shares of Independent Bank Group stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $52.90, for a total transaction of $7,141,500.00. Following the completion of the transaction, the director now owns 91,022 shares in the company, valued at approximately $4,815,063.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 10.90% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. State Board of Administration of Florida Retirement System increased its stake in shares of Independent Bank Group by 2.4% in the 2nd quarter. State Board of Administration of Florida Retirement System now owns 9,004 shares of the bank’s stock valued at $495,000 after purchasing an additional 209 shares in the last quarter. Stephens Inc. AR increased its stake in shares of Independent Bank Group by 4.6% in the 1st quarter. Stephens Inc. AR now owns 5,810 shares of the bank’s stock valued at $298,000 after purchasing an additional 254 shares in the last quarter. Legal & General Group Plc increased its stake in shares of Independent Bank Group by 4.9% in the 4th quarter. Legal & General Group Plc now owns 8,027 shares of the bank’s stock valued at $367,000 after purchasing an additional 374 shares in the last quarter. Aperio Group LLC increased its stake in shares of Independent Bank Group by 5.6% in the 2nd quarter. Aperio Group LLC now owns 7,007 shares of the bank’s stock valued at $385,000 after purchasing an additional 374 shares in the last quarter. Finally, Commonwealth Equity Services LLC increased its stake in shares of Independent Bank Group by 2.1% in the 2nd quarter. Commonwealth Equity Services LLC now owns 21,630 shares of the bank’s stock valued at $1,188,000 after purchasing an additional 450 shares in the last quarter. Institutional investors and hedge funds own 61.21% of the company’s stock.
About Independent Bank Group
Independent Bank Group, Inc operates as the bank holding company for Independent Bank that provides various commercial banking products and services to businesses, professionals, and individuals in the United States. It offers various deposit products, including demand deposits, money market accounts, and certificates of deposit.
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