November 25, 2016 - By Hazel Jackson
The insider Torry Berntsen who is shareholder of Independent Bank Group Inc unloaded some 5,000 shares of the public firm having a market value of $287,750 US Dollars based on an average price of $57.6 for each share. The probability of this deal remaining a secret is super low, with the shareholder now owning 64,137 shares — that is 0.35% of the total market capitalization of Independent Bank Group Inc.
Out of 8 analysts covering Independent Bank Group Inc (NASDAQ:IBTX), 2 rate it a “Buy”, 0 “Sell”, while 6 “Hold”. This means 25% are positive. $61 is the highest target while $35 is the lowest. The $44 average target is -26.78% below today’s ($60.09) stock price. Independent Bank Group Inc has been the topic of 14 analyst reports since August 4, 2015 according to StockzIntelligence Inc. As per Wednesday, December 9, the company rating was downgraded by Stephens. The stock has “Overweight” rating given by Piper Jaffray on Monday, April 25. On Friday, October 23 the stock rating was downgraded by Sandler O’Neill to “Hold”. The firm has “Buy” rating given on Thursday, August 27 by TheStreet. Evercore upgraded the stock to “Buy” rating in Thursday, June 9 report. Hovde Group maintained it with “Market Perform” rating and $61 target price in Wednesday, November 23 report. Evercore downgraded Independent Bank Group Inc (NASDAQ:IBTX) on Friday, September 11 to “Hold” rating.
Insitutional Activity: The institutional sentiment decreased to 1.14 in 2016 Q2. Its down 0.45, from 1.59 in 2016Q1. The ratio turned negative, 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.
Royal Natl Bank Of Canada holds 0% or 24,865 shares in its portfolio. Metropolitan Life Insurance Ny has 9,449 shares for 0% of their US portfolio. Deutsche Bancshares Ag holds 9,288 shares or 0% of its portfolio. Employees Retirement Sys Of Texas reported 39,000 shares or 0.02% of all its holdings. Swiss Fincl Bank accumulated 17,552 shares or 0% of the stock. Jacobs Levy Equity Mgmt has 0.01% invested in the company for 15,720 shares. Great West Life Assurance Can owns 1,232 shares or 0% of their US portfolio. Manufacturers Life The holds 8,104 shares or 0% of its portfolio. Wellington Management Group Incorporated Llp owns 536,153 shares or 0.01% of their US portfolio. Legal And General Public Limited last reported 0% of its portfolio in the stock. Moreover, Teachers Advsrs has 0% invested in Independent Bank Group Inc (NASDAQ:IBTX) for 16,353 shares. Morgan Stanley accumulated 56,254 shares or 0% of the stock. The California-based Utd Advisers Ltd Liability has invested 0.03% in Independent Bank Group Inc (NASDAQ:IBTX). Blackrock Advsrs Limited Liability Company has invested 0% of its portfolio in Independent Bank Group Inc (NASDAQ:IBTX). Envestnet Asset Mngmt Inc holds 60,127 shares or 0.01% of its portfolio.
Insider Transactions: Since June 10, 2016, the stock had 1 buying transaction, and 17 sales for $8.87 million net activity. Berntsen Torry bought $8,138 worth of stock or 200 shares. Brooks Daniel W sold $220,000 worth of Independent Bank Group Inc (NASDAQ:IBTX) on Tuesday, October 4. Shares for $862,081 were sold by Brooks David R. The insider Hobart Brian E sold $5,760. Another trade for 5,000 shares valued at $225,000 was made by Webb Jan C on Wednesday, October 12.
About 80,497 shares traded hands. Independent Bank Group Inc (NASDAQ:IBTX) has risen 84.50% since April 22, 2016 and is uptrending. It has outperformed by 79.09% the S&P500.
Independent Bank Group, Inc. is a bank holding company. The company has a market cap of $1.15 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 22.64 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.”
Analysts await Independent Bank Group Inc (NASDAQ:IBTX) to report earnings on January, 25. They expect $0.80 earnings per share, up 37.93% or $0.22 from last year’s $0.58 per share. IBTX’s profit will be $15.31M for 18.78 P/E if the $0.80 EPS becomes a reality. After $0.78 actual earnings per share reported by Independent Bank Group Inc for the previous quarter, Wall Street now forecasts 2.56% EPS growth.
More notable recent Independent Bank Group Inc (NASDAQ:IBTX) news were published by: Reuters.com which released: “BRIEF-Independent Bank Group to acquire Carlile Bancshares” on November 22, 2016, also Globenewswire.com with their article: “Independent Bank Group, Inc. Announces Q3 2016 Earnings Call” published on October 12, 2016, Globenewswire.com published: “Independent Bank Group, Inc. Announces Senior Leadership Changes” on April 21, 2016. More interesting news about Independent Bank Group Inc (NASDAQ:IBTX) were released by: Globenewswire.com and their article: “Independent Bank Group, Inc. Announces Q2 2016 Earnings Call” published on July 06, 2016 as well as Globenewswire.com‘s news article titled: “Independent Bank Group, Inc. Announces Pricing of $45 Million of its 5.875 ..” with publication date: June 23, 2016.
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.
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