The stock of Independent Bank Group Inc (NASDAQ:IBTX) is a huge mover today! About 305,653 shares traded hands or 188.94% up from the average. Independent Bank Group Inc (NASDAQ:IBTX) has risen 67.54% since April 20, 2016 and is uptrending. It has outperformed by 62.98% the S&P500.
The move comes after 8 months positive chart setup for the $1.09B company. It was reported on Nov, 22 by Barchart.com. We have $63.87 PT which if reached, will make NASDAQ:IBTX worth $98.10M more.
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. TheStreet downgraded Independent Bank Group Inc (NASDAQ:IBTX) on Thursday, August 27 to “Buy” rating. The rating was upgraded by Evercore to “Buy” on Thursday, June 9. Sandler O’Neill downgraded the stock to “Hold” rating in Friday, October 23 report. The company was downgraded on Wednesday, December 9 by Stephens. The firm has “Overweight” rating by Piper Jaffray given on Monday, April 25. The rating was downgraded by Evercore to “Hold” on Friday, September 11.
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 1.14 in 2016 Q2. Its down 0.45, from 1.59 in 2016Q1. The ratio fall, 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.
Wellington Mngmt Grp Inc Limited Liability Partnership holds 536,153 shares or 0.01% of its portfolio. Wfg Limited Partnership reported 31,476 shares or 0.36% of all its holdings. Systematic Limited Partnership has 36,660 shares for 0.02% of their US portfolio. American Century Inc has 0% invested in the company for 14,513 shares. Bankshares Of Ny Mellon reported 52,071 shares or 0% of all its holdings. Banc Funds Limited holds 0.1% or 38,500 shares in its portfolio. Blackrock has 0% invested in the company for 2,803 shares. Parametric Portfolio Assocs Ltd Liability Corporation, a Washington-based fund reported 5,064 shares. Clover Prns L P has invested 3.76% of its portfolio in Independent Bank Group Inc (NASDAQ:IBTX). New York State Common Retirement Fund accumulated 0% or 12,000 shares. Voya Invest Management Ltd Liability has 5,944 shares for 0% of their US portfolio. Blackrock has 0% invested in the company for 5,318 shares. Royal Natl Bank Of Canada reported 24,865 shares or 0% of all its holdings. Geode Capital Mngmt Ltd Liability Com reported 84,217 shares or 0% of all its holdings. Lsv Asset Mngmt holds 0% or 6,300 shares in its portfolio.
Insider Transactions: Since June 10, 2016, the stock had 1 buy, and 16 sales for $8.32 million net activity. Shares for $3.29 million were sold by Brooks David R. Hobart Brian E also sold $125,000 worth of Independent Bank Group Inc (NASDAQ:IBTX) shares. $8,138 worth of Independent Bank Group Inc (NASDAQ:IBTX) was bought by Berntsen Torry. $237,500 worth of shares were sold by Webb Jan C on Monday, October 24. The insider Brooks Daniel W sold $220,000.
More notable recent Independent Bank Group Inc (NASDAQ:IBTX) news were published by: Globenewswire.com which released: “Independent Bank Group, Inc. to Acquire Carlile Bancshares, Inc.” on November 21, 2016, also Reuters.com with their article: “BRIEF-Independent Bank Group to acquire Carlile Bancshares” published on November 22, 2016, Globenewswire.com published: “Independent Bank Group, Inc. Announces Q3 2016 Earnings Call” on October 12, 2016. More interesting news about Independent Bank Group Inc (NASDAQ:IBTX) were released by: Globenewswire.com and their article: “Independent Bank Group, Inc. Announces Senior Leadership Changes” published on April 21, 2016 as well as Globenewswire.com‘s news article titled: “Independent Bank Group, Inc. Announces Q2 2016 Earnings Call” with publication date: July 06, 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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