Independent Bank Group (NASDAQ:IBTX) was downgraded by BidaskClub from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday.

A number of other equities research analysts have also recently commented on IBTX. Piper Jaffray Companies reiterated a “buy” rating and set a $76.00 target price on shares of Independent Bank Group in a report on Friday, September 1st. Keefe, Bruyette & Woods reiterated a “buy” rating and set a $71.00 target price on shares of Independent Bank Group in a report on Wednesday, October 4th. Finally, Zacks Investment Research upgraded Independent Bank Group from a “sell” rating to a “hold” rating in a report on Friday, October 6th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Independent Bank Group presently has an average rating of “Buy” and a consensus target price of $71.40.

Shares of Independent Bank Group (NASDAQ:IBTX) traded down $0.75 during trading hours on Wednesday, reaching $67.45. The company’s stock had a trading volume of 236,555 shares, compared to its average volume of 103,541. The firm has a market cap of $1,920.00, a PE ratio of 23.18 and a beta of 1.31. The company has a current ratio of 1.04, a quick ratio of 1.03 and a debt-to-equity ratio of 0.55. Independent Bank Group has a 52-week low of $51.70 and a 52-week high of $72.28.

Independent Bank Group (NASDAQ:IBTX) last announced its earnings results on Monday, October 23rd. The bank reported $0.89 EPS for the quarter, beating analysts’ consensus estimates of $0.88 by $0.01. The firm had revenue of $84.99 million for the quarter, compared to analysts’ expectations of $83.00 million. Independent Bank Group had a return on equity of 7.36% and a net margin of 27.67%. During the same quarter in the prior year, the firm earned $0.78 EPS. equities analysts anticipate that Independent Bank Group will post 3.47 EPS for the current year.

In other Independent Bank Group news, Vice Chairman Daniel W. Brooks sold 7,503 shares of the stock in a transaction on Friday, October 13th. The stock was sold at an average price of $60.67, for a total transaction of $455,207.01. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Vice Chairman Daniel W. Brooks sold 25,000 shares of the stock in a transaction on Thursday, November 30th. The stock was sold at an average price of $68.30, for a total value of $1,707,500.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 87,397 shares of company stock worth $5,565,604. Corporate insiders own 7.70% of the company’s stock.

Several institutional investors have recently modified their holdings of IBTX. Schwab Charles Investment Management Inc. lifted its stake in shares of Independent Bank Group by 42.5% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 59,275 shares of the bank’s stock worth $3,527,000 after purchasing an additional 17,666 shares during the period. First Trust Advisors LP lifted its stake in shares of Independent Bank Group by 6.9% during the 2nd quarter. First Trust Advisors LP now owns 79,444 shares of the bank’s stock worth $4,727,000 after purchasing an additional 5,111 shares during the period. Rhumbline Advisers raised its position in shares of Independent Bank Group by 55.2% in the 2nd quarter. Rhumbline Advisers now owns 20,151 shares of the bank’s stock worth $1,199,000 after buying an additional 7,171 shares during the period. Bank of New York Mellon Corp raised its position in shares of Independent Bank Group by 11.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 92,662 shares of the bank’s stock worth $5,513,000 after buying an additional 9,657 shares during the period. Finally, Legal & General Group Plc raised its position in shares of Independent Bank Group by 66.9% in the 2nd quarter. Legal & General Group Plc now owns 4,472 shares of the bank’s stock worth $266,000 after buying an additional 1,792 shares during the period. 47.72% of the stock is currently owned by institutional investors.

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Independent Bank Group Company Profile

Independent Bank Group, Inc is a bank holding company. Through the Company’s subsidiary, Independent Bank (the Bank), the Company provides a range of commercial banking products and services tailored to meet the needs of businesses, professionals and individuals. As of December 31, 2016, the Company operated 41 banking offices in the Dallas/North Texas area, the Austin/Central Texas area, and the Houston metropolitan area.

Analyst Recommendations for Independent Bank Group (NASDAQ:IBTX)

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