Stock Rating: Independent Bank Group (IBTX) “Market Perform” Rating Maintained at Hovde Group; With $61.0 Target

November 23, 2016 - By Peter Erickson

Stock Rating: Independent Bank Group (IBTX)

Independent Bank Group (IBTX) Rating

In a research report revealed to investors and clients on Wednesday, 23 November, Independent Bank Group (IBTX) stock had its “Market Perform” Rating reiterated by stock research analysts at Hovde Group. They currently have a $61.0 TP on company. Hovde Group’s target suggests a potential upside of 4.81% from the company’s last stock price.

The stock increased 6.69% or $3.65 during the last trading session, hitting $58.2. Independent Bank Group Inc (IBTX) has risen 81.42% since April 21, 2016 and is uptrending. It has outperformed by 76.09% the S&P500.

Insitutional Activity: The institutional sentiment decreased to 1.14 in Q2 2016. Its down 0.45, from 1.59 in 2016Q1. The ratio worsened, as 10 funds sold all Independent Bank Group Inc shares owned while 24 reduced positions. 16 funds bought stakes while 38 increased positions. They now own 6.23 million shares or 10.03% more from 5.66 million shares in 2016Q1.

Amer Grp accumulated 6,398 shares or 0% of the stock. Legal & General Public Ltd Company has 0% invested in the company for 1,664 shares. Moreover, First Tru Lp has 0% invested in Independent Bank Group Inc (NASDAQ:IBTX) for 18,231 shares. Morgan Stanley has invested 0% of its portfolio in Independent Bank Group Inc (NASDAQ:IBTX). D E Shaw & Com has 0% invested in the company for 11,864 shares. Metropolitan Life Ins New York holds 9,449 shares or 0% of its portfolio. Clover Partners Lp holds 222,131 shares or 3.76% of its portfolio. Price T Rowe Assocs Md holds 0% of its portfolio in Independent Bank Group Inc (NASDAQ:IBTX) for 549,250 shares. California State Teachers Retirement System has invested 0% of its portfolio in Independent Bank Group Inc (NASDAQ:IBTX). Hodges accumulated 1.83% or 875,938 shares. Prudential Financial has invested 0% of its portfolio in Independent Bank Group Inc (NASDAQ:IBTX). Millennium Mgmt Ltd Company has 35,010 shares for 0% of their US portfolio. Great West Life Assurance Can holds 0% or 1,232 shares in its portfolio. Renaissance Techs Limited Com holds 36,300 shares or 0% of its portfolio. Invesco Limited holds 0% of its portfolio in Independent Bank Group Inc (NASDAQ:IBTX) for 9,214 shares.

Insider Transactions: Since June 10, 2016, the stock had 1 insider purchase, and 17 selling transactions for $8.87 million net activity. Shares for $470,000 were sold by Brooks David R on Friday, October 21. $125,000 worth of Independent Bank Group Inc (NASDAQ:IBTX) was sold by Hobart Brian E on Thursday, November 10. Shares for $251,250 were sold by Webb Jan C. $220,000 worth of Independent Bank Group Inc (NASDAQ:IBTX) shares were sold by Brooks Daniel W. On Friday, June 10 Berntsen Torry bought $8,138 worth of the stock or 200 shares.

Independent Bank Group, Inc. is a bank holding company. The company has a market cap of $1.09 billion. Through the Company’s subsidiary, Independent Bank , it provides a range of commercial banking services and products tailored to meet the needs of businesses, professionals and individuals. It has a 21.89 P/E ratio. The Company’s commercial lending products include owner-occupied commercial real estate loans, interim construction loans, commercial loans to a mix of small and midsized businesses, and loans to professionals, particularly medical practices.

According to Zacks Investment Research, “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.”

IBTX Company Profile

Independent Bank Group, Inc., incorporated on September 20, 2002, is a bank holding company. Through the Company’s subsidiary, Independent Bank (the Bank), the Company provides a range of commercial banking services and products tailored to meet the needs of businesses, professionals and individuals. The Firm operates approximately 40 banking offices in the Dallas-Fort Worth metropolitan area, the Austin/Central Texas area, and the Houston metropolitan area. The Firm offers residential mortgages through its mortgage brokerage division. As a mortgage broker, the Company originates residential mortgages, which are sold into the secondary market shortly after closing. The Firm also provides wealth management services to its customers, including investment advisory and other related services.

More notable recent Independent Bank Group Inc (NASDAQ:IBTX) news were published by: Globenewswire.com which released: “Independent Bank Group, Inc. to Acquire Carlile Bancshares, Inc.” on November 21, 2016, also Reuters.com with their article: “BRIEF-Independent Bank Group to acquire Carlile Bancshares” published on November 22, 2016, Globenewswire.com published: “Independent Bank Group, Inc. Announces Q3 2016 Earnings Call” on October 12, 2016. More interesting news about Independent Bank Group Inc (NASDAQ:IBTX) were released by: Globenewswire.com and their article: “Independent Bank Group, Inc. Announces Senior Leadership Changes” published on April 21, 2016 as well as Globenewswire.com‘s news article titled: “Independent Bank Group, Inc. Announces Q2 2016 Earnings Call” with publication date: July 06, 2016.

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