Independent Bank Group Inc (IBTX) reported quarterly earnings results on Monday, Jul-25-2016. The company said it had a profit of $0.74 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.04. Analysts had a consensus of $0.70. The company posted revenue of $50.81 million in the period, compared to analysts expectations of $50.32 million. The company’s revenue was up 21.3% compared to the same quarter last year.
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. 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 closed down -0.12 points or -0.28% at $42.32 with 51,099 shares getting traded on Wednesday. Post opening the session at $42.78, the shares hit an intraday low of $42.18 and an intraday high of $42.995 and the price fluctuated in this range throughout the day.Shares ended Wednesday 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.