Independent Bank Group Inc (IBTX) is Upgraded by Piper Jaffray to Overweight

Independent Bank Group Inc (IBTX) was Upgraded by Piper Jaffray to ” Overweight”. Earlier the firm had a rating of “Neutral ” on the company shares. Piper Jaffray advised their investors in a research report released on Apr 25, 2016.

On the company’s financial health, Independent Bank Group Inc reported $0.63 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Jan 27, 2016. Analyst had a consensus of $0.60. The company had revenue of $46.41 million for the quarter, compared to analysts expectations of $46.03 million. The company’s revenue was up 10.1% compared to the same quarter last year.

Independent Bank Group Inc opened for trading at $32.23 and hit $32.78 on the upside on Friday, eventually ending the session at $32.52, with a gain of 1.37% or 0.44 points. The heightened volatility saw the trading volume jump to 26,712 shares. Company has a market cap of $600 M.

In a different news, on Mar 29, 2016, Torry Berntsen (COO) purchased 100 shares at $27.79 per share price. According to the SEC, on Feb 19, 2016, Michelle S Hickox (CFO) purchased 250 shares at $27.50 per share price. On Feb 17, 2016, G Stacy Smith (director) purchased 4,800 shares at $38.58 per share price, according to the Form-4 filing with the securities and exchange commission.

Independent Bank Group Inc. is bank holding company. Through the Company’s wholly owned subsidiary Independent Bank (the Bank) the Company provides a range of relationship-driven commercial banking products and services tailored to meet the needs of businesses professionals and individuals. Commercial lending products include owner-occupied commercial real estate loans interim construction loans commercial loans to a diversified mix of small and midsized businesses and loans to professionals particularly medical practices. Retail lending products include residential first and second mortgage loans and consumer installment loans such as loans to purchase cars boats and other recreational vehicles. The Company operates approximately 39 banking offices in the Dallas-Fort Worth metropolitan area the Austin/Central Texas area and the Houston metropolitan area.

Independent Bank Group Inc

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