Independent Bank Group Inc (IBTX) is Reiterated by Hovde Group to Market Perform, Raises Price Target to $ 45.50

Independent Bank Group Inc (IBTX) was Reiterated by Hovde Group to “Market Perform” according to the research note released today. The brokerage firm has raised the Price Target to $ 45.50 from a previous price target of $43 . Hovde Group advised their investors in a research report released on Jul 27, 2016.

Many Wall Street Analysts have commented on Independent Bank Group Inc. Raymond James Initiated Independent Bank Group Inc on Jul 7, 2016 to “Outperform”, Price Target of the shares are set at $44.Independent Bank Group Inc was Upgraded by Evercore ISI to ” Buy” on Jun 9, 2016.

On the company’s financial health, Independent Bank Group Inc reported $0.74 EPS for the quarter, beating the analyst consensus estimate by $ 0.04 according to the earnings call on Jul 25, 2016. Analyst had a consensus of $0.70. The company had revenue of $50.81 million for the quarter, compared to analysts expectations of $50.32 million. The company’s revenue was up 21.3% compared to the same quarter last year.

Independent Bank Group Inc closed down -0.21 points or -0.48% at $43.27 with 37,912 shares getting traded on Thursday. Post opening the session at $43.26, the shares hit an intraday low of $43.06 and an intraday high of $43.95 and the price fluctuated in this range throughout the day.Shares ended Thursday 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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