Evercore ISI Group Upgrades INDEPENDENT BK GROUP INC COM to Buy

Brokerage firm Evercore ISI Group Upgrades its rating on INDEPENDENT BK GROUP INC COM(NASDAQ:IBTX). The shares have been rated Buy. Previously, the analysts had a Hold rating on the shares. The rating by Evercore ISI Group was issued on Jun 9, 2016.

In a different note, On Apr 25, 2016, Piper Jaffray said it Upgrades its rating on INDEPENDENT BK GROUP INC COM. The shares have been rated ‘Overweight’ by the firm.

INDEPENDENT BK GROUP INC COM (IBTX) made into the market gainers list on Wednesdays trading session with the shares advancing 0.93% or 0.38 points. Due to strong positive momentum, the stock ended at $41.07, which is also near the day’s high of $41.5. The stock began the session at $40.92 and the volume stood at 91,513 shares. The 52-week high of the shares is $46.66 and the 52 week low is $25.5. The company has a current market capitalization of $758 M and it has 1,84,60,978 shares in outstanding.

INDEPENDENT BK GROUP INC COM(IBTX) last announced its earnings results on Apr 25, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $48.80M. Analysts had an estimated revenue of $47.90M. Earnings per share were $0.67. Analysts had estimated an EPS of $0.64.

Several Insider Transactions has been reported to the SEC. On May 16, 2016, Jack M Radke (director) purchased 4,000 shares at $33.86 per share price.Also, On Mar 29, 2016, Torry Berntsen (COO) purchased 100 shares at $27.79 per share price.On Feb 19, 2016, Michelle S Hickox (CFO) purchased 250 shares at $27.50 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.

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