Published: Sun, May 28, 2017
Money | By Armando Alvarado

Independent Bank Corp (INDB) Posts Earnings Results, Meets Expectations


As analysts monitor volatile markets in recent weeks they have updated their price targets on shares of Independent Bank Group, Inc (NASDAQ:IBTX). Municipal Employees Retirement System of MI raised its stake in shares of Independent Bank Corp by 1.3% in the third quarter.

Alliancebernstein Lp holds 0.02% in Independent Bank Group Inc (NASDAQ:IBTX) or 468,637 shares. Pinebridge Invs Limited Partnership reported 0.04% stake. The bank reported $0.78 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.78. Renaissance Lc accumulated 11,600 shares. Rmb Management Ltd Liability Com has 0.06% invested in Independent Bank Group Inc (NASDAQ:IBTX) for 17,886 shares. Mesirow Mngmt owns 6,190 shares or 0.02% of their USA portfolio.

Independent Bank Group (NASDAQ:IBTX) last released its quarterly earnings results on Monday, April 24th. Municipal Employees Retirement System of MI now owns 7,730 shares of the bank's stock worth $418,000 after buying an additional 100 shares during the period. The legal version of this report can be viewed at https://www.thestockobserver.com/2017/05/22/goodman-financial-corp-has-1153000-stake-in-independent-bank-group-inc-ibtx.html. Moreover, Connor Clark And Lunn Investment Mgmt Ltd has 0.01% invested in Independent Bank Group Inc (NASDAQ:IBTX). Dupont Management reported 10,584 shares.

Since November 14, 2016, it had 0 insider buys, and 14 insider sales for $19.99 million activity. SMITH G STACY had sold 10,000 shares worth $662,980.

Equities researchers at Piper Jaffray Companies initiated coverage on shares of Independent Bank Corp (NASDAQ:INDB) in a research note issued on Monday. $195,545 worth of Independent Bank Group Inc (NASDAQ:IBTX) was sold by Jennings John Webb III on Thursday, December 8. Also, insider Gerard F. Nadeau sold 6,103 shares of Independent Bank Corp stock in a transaction on Monday, May 1st. 5,000 shares valued at $287,750 were sold by Berntsen Torry on Tuesday, November 22. Therefore 0 are positive. On average, analysts predict that Independent Bank Group will post $3.46 EPS for the current fiscal year.

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Independent Bank Corporation Mass (NASDAQ:INDB) had an increase of 11.39% in short interest.

08/03/2015 - Independent Bank Group, Inc had its "market perform" rating reiterated by analysts at Stifel Nicolaus.

Receive News & Ratings for Independent Bank Corp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Independent Bank Corp and related companies with MarketBeat.com's FREE daily email newsletter. The stock of Independent Bank Group Inc (NASDAQ:IBTX) earned "Equal-Weight" rating by Stephens on Wednesday, December 9. On Thursday, August 27 the stock rating was downgraded by TheStreet to "Buy". The stock of Independent Bank Group Inc (NASDAQ:IBTX) earned "Hold" rating by Sandler O'Neill on Friday, October 23. Finally, Zacks Investment Research downgraded Independent Bank Corp from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, March 22nd. Bravatek Solutions Inc (OTCMKTS:BVTK) has 0.00% since May 23, 2016 and is. It has outperformed by 47.36% the S&P500.The move comes after 5 months positive chart setup for the $1.64 billion company. State Board Of Administration Of Florida Retirement Sys has 0% invested in Independent Bank Group Inc (NASDAQ:IBTX). AlphaOne ranks coverage of publicly-traded companies on a scale of -1 to 1, with scores closest to one being the most favorable. It has a 20.67 P/E ratio. As of December 31, 2016, the Company's markets were served by the Bank's main office in Grand Rapids, Michigan, and a total of 62 branches, a drive-in facility and 12 loan production offices. Blackrock Advsrs Ltd Co reported 0% of its portfolio in Independent Bank Group Inc (NASDAQ:IBTX). Independent Bank Group had a return on equity of 8.93% and a net margin of 23.32%.

Independent Bank Corp Company Profile Independent Bank Corp.is a bank holding company.

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