Market Runner: Time to Reconsider Independent Bank Group Inc After Touching 52-Week High?

Market Runner: Time to Reconsider Independent Bank Group Inc After Touching 52 Week High?

The stock of Independent Bank Group Inc (NASDAQ:IBTX) hit a new 52-week high and has $65.35 target or 24.00% above today’s $52.70 share price. The 8 months bullish chart indicates low risk for the $1.01 billion company. The 1-year high was reported on Nov, 11 by Barchart.com. If the $65.35 price target is reached, the company will be worth $242.40M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 73,110 shares traded hands. Independent Bank Group Inc (NASDAQ:IBTX) has risen 89.15% since April 11, 2016 and is uptrending. It has outperformed by 83.00% the S&P500.

Independent Bank Group Inc (NASDAQ:IBTX) Ratings Coverage

Out of 7 analysts covering Independent Bank Group Inc (NASDAQ:IBTX), 2 rate it a “Buy”, 0 “Sell”, while 5 “Hold”. This means 29% are positive. Independent Bank Group Inc has been the topic of 13 analyst reports since August 4, 2015 according to StockzIntelligence Inc. The firm has “Equal-Weight” rating given on Wednesday, December 9 by Stephens. The firm has “Overweight” rating given on Monday, April 25 by Piper Jaffray. The rating was downgraded by Evercore on Friday, September 11 to “Hold”. As per Thursday, June 9, the company rating was upgraded by Evercore. The company was downgraded on Thursday, August 27 by TheStreet. The stock of Independent Bank Group Inc (NASDAQ:IBTX) has “Hold” rating given on Friday, October 23 by Sandler O’Neill.

According to Zacks Investment Research, “Independent Bank Group, Inc. is a bank holding company that conducts its business activities through its subsidiary, Independent Bank. The company offers personal and commercial banking services to businesses, professionals and individuals. Its services includes checking accounts, savings accounts, commercial real estate loans, interim construction loans, loans to professionals, residential first and second mortgage loans , loans to purchase cars, boats and other recreational vehicles. Independent Bank Group, Inc. is headquartered in McKinney, Texas.”

Insitutional Activity: The institutional sentiment decreased to 1.59 in Q2 2016. Its down 0.84, from 2.43 in 2016Q1. The ratio worsened, as 10 funds sold all Independent Bank Group Inc shares owned while 24 reduced positions. 16 funds bought stakes while 38 increased positions. They now own 6.23 million shares or 10.03% more from 5.66 million shares in 2016Q1.
Lsv Asset last reported 0% of its portfolio in the stock. The Ohio-based Strs Ohio has invested 0% in Independent Bank Group Inc (NASDAQ:IBTX). Deutsche Financial Bank Ag last reported 9,288 shares in the company. Blackrock Ltd Com reported 5,318 shares or 0% of all its holdings. Envestnet Asset Inc, a Illinois-based fund reported 60,127 shares. Dupont Capital Mgmt Corp has invested 0.03% of its portfolio in Independent Bank Group Inc (NASDAQ:IBTX). Putnam Ltd accumulated 0.01% or 106,400 shares. Aqr Cap Mgmt Limited Liability has 7,251 shares for 0% of their US portfolio. Bridgeway Mgmt last reported 34,687 shares in the company. Ladenburg Thalmann Fincl has 0% invested in the company for 2,750 shares. California State Teachers Retirement Systems holds 23,304 shares or 0% of its portfolio. Metropolitan Life Ins Ny has invested 0% of its portfolio in Independent Bank Group Inc (NASDAQ:IBTX). The Pennsylvania-based Pnc Group has invested 0% in Independent Bank Group Inc (NASDAQ:IBTX). Consector Capital Ltd Partnership holds 25,000 shares or 2.51% of its portfolio. Wells Fargo And Mn owns 6,268 shares or 0% of their US portfolio.

Insider Transactions: Since May 13, 2016, the stock had 1 buy, and 11 selling transactions for $3.28 million net activity. The insider Brooks Daniel W sold $245,000. 10,000 shares were sold by Brooks David R, worth $482,500 on Tuesday, October 25. $135,440 worth of Independent Bank Group Inc (NASDAQ:IBTX) was bought by Radke Jack M on Friday, May 13. $237,500 worth of Independent Bank Group Inc (NASDAQ:IBTX) was sold by Webb Jan C. Hobart Brian E also sold $354,240 worth of Independent Bank Group Inc (NASDAQ:IBTX) on Tuesday, October 25. $8,138 worth of Independent Bank Group Inc (NASDAQ:IBTX) was bought by Berntsen Torry.

More important recent Independent Bank Group Inc (NASDAQ:IBTX) news were published by: Globenewswire.com which released: “Independent Bank Group, Inc. Announces Senior Leadership Changes” on April 21, 2016, also Globenewswire.com published article titled: “Independent Bank Group, Inc. Announces Q2 2016 Earnings Call”, Globenewswire.com published: “Independent Bank Group, Inc. Announces Pricing of $45 Million of its 5.875 …” on June 23, 2016. More interesting news about Independent Bank Group Inc (NASDAQ:IBTX) was released by: Nasdaq.com and their article: “Independent Bank Group, Inc (IBTX) Ex-Dividend Date Scheduled for November 03 …” with publication date: November 02, 2016.

IBTX Company Profile

Independent Bank Group, Inc., incorporated on September 20, 2002, is a bank holding company. Through the Company’s subsidiary, Independent Bank (the Bank), the Company provides a range of commercial banking services and products tailored to meet the needs of businesses, professionals and individuals. The Firm operates approximately 40 banking offices in the Dallas-Fort Worth metropolitan area, the Austin/Central Texas area, and the Houston metropolitan area. The Firm offers residential mortgages through its mortgage brokerage division. As a mortgage broker, the Company originates residential mortgages, which are sold into the secondary market shortly after closing. The Firm also provides wealth management services to its customers, including investment advisory and other related services.

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