Independent Bank Group Inc (IBTX) is Initiated by Raymond James to Outperform, Price Target at $44

Independent Bank Group Inc (IBTX) was Initiated by Raymond James to “Outperform” and the brokerage firm has set the Price Target at $44. Raymond James advised their investors in a research report released on Jul 7, 2016.

Many Wall Street Analysts have commented on Independent Bank Group Inc. Independent Bank Group Inc was Upgraded by Evercore ISI to ” Buy” on Jun 9, 2016. Company shares were Reiterated by Hovde Group on Apr 27, 2016 to “Market Perform”, Firm has raised the Price Target to $ 38 from a previous price target of $31 .Independent Bank Group Inc was Upgraded by Piper Jaffray to ” Overweight” on Apr 25, 2016.

On the company’s financial health, Independent Bank Group Inc reported $0.67 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Apr 25, 2016. Analyst had a consensus of $0.64.Analysts expectations of $ 48.62.During the same quarter in the previous year, the company posted $0.63 EPS.

Independent Bank Group Inc closed down -1.65 points or -4.08% at $38.77 with 41,770 shares getting traded on Tuesday. Post opening the session at $40.2, the shares hit an intraday low of $38.65 and an intraday high of $40.74 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

In a different news, on Jun 28, 2016, Michelle S Hickox (EVP and CFO) purchased 237 shares at $38.50 per share price. According to the SEC, on Jun 27, 2016, G Stacy Smith (director) purchased 15,186 shares at $38.86 per share price. On Jun 24, 2016, Torry Berntsen (President) purchased 100 shares at $39.73 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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