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 $ 61 from a previous price target of $50 . Hovde Group advised their investors in a research report released on Nov 23, 2016.
On the company’s financial health, Independent Bank Group Inc reported $0.78 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Oct 24, 2016. Analyst had a consensus of $0.75.Analysts expectations of $ 52.19.During the same quarter in the previous year, the company posted $0.47 EPS.
Independent Bank Group Inc opened for trading at $52.95 and hit $54.2 on the upside on Monday, eventually ending the session at $53.95, with a gain of 1.60% or 0.85 points. The heightened volatility saw the trading volume jump to 88,422 shares. Company has a market cap of $996 M.
In a different news, on Nov 22, 2016, David R Brooks (Chairman, CEO, President) sold 10,000 shares at $55.00 per share price. According to the SEC, on Nov 14, 2016, Brian E Hobart (Vice Chairman and CLO) sold 2,500 shares at $50.00 per share price. On Nov 14, 2016, Jan C Webb (EVP and Secretary) sold 5,000 shares at $50.25 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.