November 29, 2016 - By Darrin Black
It was announced in a public report which was filled with the SEC that Stacy Smith, who works for Independent Bank Group Inc, and holds the position of director performed an insider deal on 28/11/2016. She unloaded 5,000 shares of the Pinksheet-listed Independent Bank Group Inc based on $59.7 U.S. Dollars a share. As exposed in the document freely available here, the full amount of the deal was $298,500 U.S. Dollars. Stacy Smith now has in hand 141,400 shares or 0.77% of Independent Bank Group Inc’s market cap.
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 -26.47% below today’s ($59.84) stock price. Independent Bank Group Inc has been the topic of 14 analyst reports since August 4, 2015 according to StockzIntelligence Inc. The firm earned “Buy” rating on Thursday, June 9 by Evercore. On Wednesday, December 9 the stock rating was downgraded by Stephens to “Equal-Weight”. The rating was maintained by Hovde Group on Wednesday, November 23 with “Market Perform”. TheStreet downgraded the shares of IBTX in a report on Thursday, August 27 to “Buy” rating. The rating was downgraded by Sandler O’Neill on Friday, October 23 to “Hold”. The firm has “Overweight” rating by Piper Jaffray given on Monday, April 25. 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 Q2 2016. Its down 0.45, from 1.59 in 2016Q1. The ratio is 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.
Rhumbline Advisers has 0% invested in the company for 12,347 shares. The Texas-based Linscomb And Williams has invested 0.16% in Independent Bank Group Inc (NASDAQ:IBTX). First Tru L P holds 0% or 18,231 shares in its portfolio. Systematic Fincl Management Lp accumulated 0.02% or 36,660 shares. Wellington Mgmt Grp Incorporated Ltd Liability Partnership has 536,153 shares for 0.01% of their US portfolio. Geode Capital Ltd Liability Corporation, a Massachusetts-based fund reported 84,217 shares. Citigroup has 0% invested in the company for 2,092 shares. Royal Bancorp Of Canada has 0% invested in the company for 24,865 shares. New York State Common Retirement Fund owns 12,000 shares or 0% of their US portfolio. Citadel Ltd Liability Corporation accumulated 4,971 shares or 0% of the stock. Manufacturers Life Insurance Com The holds 0% or 8,104 shares in its portfolio. Weatherbie Capital Ltd Liability Co holds 245,309 shares or 1.49% of its portfolio. Morgan Stanley holds 0% or 56,254 shares in its portfolio. Great West Life Assurance Can holds 1,232 shares or 0% of its portfolio. Teacher Retirement Of Texas has invested 0% of its portfolio in Independent Bank Group Inc (NASDAQ:IBTX).
Insider Transactions: Since June 10, 2016, the stock had 1 buying transaction, and 18 insider sales for $9.15 million net activity. Shares for $287,750 were sold by Berntsen Torry. 5,000 shares were sold by Webb Jan C, worth $225,000 on Wednesday, October 12. On Tuesday, October 4 the insider Brooks Daniel W sold $220,000. 120 shares were sold by Hobart Brian E, worth $5,760. $862,081 worth of Independent Bank Group Inc (NASDAQ:IBTX) shares were sold by Brooks David R.
About 140,192 shares traded hands or 20.97% up from the average. Independent Bank Group Inc (NASDAQ:IBTX) has risen 86.32% since April 25, 2016 and is uptrending. It has outperformed by 80.31% the S&P500.
Independent Bank Group, Inc. is a bank holding company. The company has a market cap of $1.11 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 22.51 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 EPS, up 37.93% or $0.22 from last year’s $0.58 per share. IBTX’s profit will be $14.84 million for 18.70 P/E if the $0.80 EPS becomes a reality. After $0.78 actual EPS reported by Independent Bank Group Inc for the previous quarter, Wall Street now forecasts 2.56% EPS growth.
More important 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 published article titled: “Independent Bank Group, Inc. Announces Q3 2016 Earnings Call”, 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) was released by: Globenewswire.com and their article: “Independent Bank Group, Inc. Announces Q2 2016 Earnings Call” with publication date: July 06, 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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By Darrin Black