Independent Bank Group, Inc. (NASDAQ: IBTX) – Truist Securiti lowered its earnings per share estimate for fiscal 2021 for Independent Bank Group in a report released on Tuesday, October 26. Truist Securiti analyst Mr. Young now expects the bank to post earnings of $ 5.23 per share for the year, down from its previous estimate of $ 5.39. Truist Securiti also released estimates for Independent Bank Group earnings in the first quarter of 2022 at $ 1.15 per share, second quarter 2022 earnings at $ 1.20 per share, third quarter 2022 earnings at 1.31. $ per share, fourth quarter 2022 earnings at $ 1.34 per share and full year 2022 earnings at $ 5.00 per share.
Shares of IBTX opened at $ 68.21 on Thursday. The company has a market cap of $ 2.94 billion, a PE ratio of 12.45 and a beta of 1.88. The company’s fifty-day moving average is $ 69.88 and its two-hundred-day moving average is $ 72.70. Independent Bank Group has a 52-week low of $ 48.50 and a 52-week high of $ 80.71. The company has a quick ratio of 1.00, a current ratio of 1.01, and a debt ratio of 0.29. Independent Bank Group (NASDAQ: IBTX) last reported its results on Sunday, October 24. The bank reported earnings per share (EPS) of $ 1.22 for the quarter, missing Zacks’ consensus estimate of $ 1.30 ($ 0.08). Independent Bank Group recorded a return on equity of 9.41% and a net margin of 34.94%. In the same quarter of last year, the company posted EPS of $ 1.38.
A number of institutional investors have recently increased or reduced their holdings in IBTX. Ameriprise Financial Inc. increased its stake in Independent Bank Group by 154.3% during the 1st quarter. Ameriprise Financial Inc. now owns 462,677 shares of the bank valued at $ 33,424,000 after purchasing an additional 280,758 shares during the period. American Century Companies Inc. increased its stake in Independent Bank Group by 21.2% during the 2nd quarter. American Century Companies Inc. now owns 1,314,502 shares of the bank valued at $ 97,247,000 after purchasing an additional 229,916 shares during the period. Millennium Management LLC increased its stake in Independent Bank Group by 145.1% during the 1st quarter. Millennium Management LLC now owns 243,880 shares of the bank valued at $ 17,618,000 after purchasing an additional 144,363 shares during the period. Vanguard Group Inc. increased its stake in Independent Bank Group by 1.7% during the 2nd quarter. Vanguard Group Inc. now owns 4,061,957 shares of the bank valued at $ 300,503,000 after purchasing an additional 68,752 shares during the period. Finally, State Street Corp increased its stake in Independent Bank Group by 3.4% during the second quarter. State Street Corp now owns 1,919,706 shares of the bank valued at $ 142,020,000 after purchasing an additional 62,906 shares during the period. 71.39% of the shares are currently held by hedge funds and other institutional investors.
In addition, CFO Michelle S. Hickox sold 5,000 shares of the company in a transaction on Friday, October 22. The shares were sold at an average price of $ 75.06, for a total value of $ 375,300.00. The sale was disclosed in a file with the SEC, accessible through this link. Additionally, Executive Vice President James C. White sold 1,250 Independent Bank Group shares in a trade on Monday, August 30. The stock was sold for an average price of $ 69.95, for a total trade of $ 87,437.50. Following the sale, the Executive Vice President now directly owns 15,253 shares of the company, valued at approximately $ 1,066,947.35. Disclosure of this sale can be found here. 3.40% of the shares are held by insiders of the company.
About the Independent Banking Group
Independent Bank Group, Inc. is a banking holding company, committed to providing relationship-oriented commercial banking products and services tailored to the needs of businesses, professionals and individuals. It offers solutions for checks, savings, business loans, business services and cash management.
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