Independent Bank Group (NASDAQ:IBTX)‘s stock had its “hold” rating reaffirmed by equities researchers at SunTrust Banks in a research report issued on Tuesday. They currently have a $75.00 target price on the bank’s stock. SunTrust Banks’ price target indicates a potential upside of 6.01% from the stock’s current price. SunTrust Banks also issued estimates for Independent Bank Group’s Q1 2018 earnings at $1.11 EPS, Q2 2018 earnings at $1.22 EPS, Q3 2018 earnings at $1.26 EPS, Q4 2018 earnings at $1.30 EPS, FY2018 earnings at $4.90 EPS and FY2019 earnings at $5.56 EPS.
Other equities analysts have also issued research reports about the stock. BidaskClub upgraded shares of Independent Bank Group from a “hold” rating to a “buy” rating in a report on Saturday, December 2nd. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $71.00 price objective on shares of Independent Bank Group in a report on Wednesday, October 4th. Piper Jaffray Companies reiterated a “buy” rating and issued a $76.00 price objective on shares of Independent Bank Group in a report on Thursday, October 19th. Finally, Zacks Investment Research upgraded shares of Independent Bank Group from a “sell” rating to a “hold” rating in a report on Friday, October 6th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Independent Bank Group currently has a consensus rating of “Buy” and a consensus target price of $72.86.
Independent Bank Group (NASDAQ:IBTX) opened at $70.75 on Tuesday. Independent Bank Group has a 1-year low of $51.70 and a 1-year high of $72.28. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.04 and a quick ratio of 1.03. The company has a market cap of $1,980.00, a price-to-earnings ratio of 24.31 and a beta of 1.31.
In other news, Vice Chairman Daniel W. Brooks sold 25,000 shares of the company’s stock in a transaction dated Thursday, November 30th. The shares were sold at an average price of $68.30, for a total value of $1,707,500.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Vice Chairman Daniel W. Brooks sold 7,503 shares of the company’s stock in a transaction dated Friday, October 13th. The shares were sold at an average price of $60.67, for a total transaction of $455,207.01. The disclosure for this sale can be found here. Insiders sold a total of 87,397 shares of company stock worth $5,565,604 in the last quarter. 7.70% of the stock is currently owned by company insiders.
Several institutional investors have recently modified their holdings of the company. HarbourVest Partners LLC acquired a new stake in shares of Independent Bank Group in the 2nd quarter valued at about $44,821,000. Dimensional Fund Advisors LP raised its stake in shares of Independent Bank Group by 23.0% in the 3rd quarter. Dimensional Fund Advisors LP now owns 644,395 shares of the bank’s stock valued at $38,857,000 after purchasing an additional 120,480 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Independent Bank Group by 18.1% in the 2nd quarter. Vanguard Group Inc. now owns 616,447 shares of the bank’s stock valued at $36,678,000 after purchasing an additional 94,580 shares in the last quarter. Alliancebernstein L.P. raised its stake in shares of Independent Bank Group by 13.1% in the 2nd quarter. Alliancebernstein L.P. now owns 541,800 shares of the bank’s stock valued at $32,237,000 after purchasing an additional 62,710 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its stake in shares of Independent Bank Group by 13.3% in the 2nd quarter. Goldman Sachs Group Inc. now owns 525,689 shares of the bank’s stock valued at $31,279,000 after purchasing an additional 61,697 shares in the last quarter. Institutional investors and hedge funds own 47.72% of the company’s stock.
COPYRIGHT VIOLATION NOTICE: This news story was originally published by Markets Daily and is owned by of Markets Daily. If you are accessing this news story on another domain, it was illegally stolen and republished in violation of US & international trademark & copyright legislation. The correct version of this news story can be accessed at https://www.themarketsdaily.com/2018/01/11/suntrust-banks-reaffirms-hold-rating-for-independent-bank-group-ibtx.html.
Independent Bank Group Company Profile
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.