What’s Next for Independent Bank Group, Inc. (IBTX) After Forming Bearish Wedge Down Pattern?

October 2, 2018 - By Dolores Ford

Investors sentiment increased to 2.11 in 2018 Q2. Its up 0.43, from 1.68 in 2018Q1. It increased, as 10 investors sold Independent Bank Group, Inc. shares while 27 reduced holdings. 22 funds opened positions while 56 raised stakes. 17.07 million shares or 6.68% more from 16.00 million shares in 2018Q1 were reported.
American Commercial Bank invested in 0.09% or 4,776 shares. Credit Suisse Ag reported 0% in Independent Bank Group, Inc. (NASDAQ:IBTX). Dimensional Fund Advsrs Lp reported 0.03% stake. Bank & Trust Of Montreal Can invested in 0% or 690 shares. Hap Trading Limited holds 0.09% or 28,508 shares in its portfolio. Adell Harriman And Carpenter holds 11,472 shares. Stephens Ar holds 5,552 shares or 0.01% of its portfolio. Alliancebernstein Ltd Partnership accumulated 0.03% or 662,957 shares. Principal Group Inc Inc reported 14,332 shares. Wolverine Asset Limited Company holds 225 shares or 0% of its portfolio. Hightower Limited Liability Corp accumulated 0.01% or 13,624 shares. Piedmont Investment Limited Liability Corp has invested 0% in Independent Bank Group, Inc. (NASDAQ:IBTX). Citigroup has invested 0% in Independent Bank Group, Inc. (NASDAQ:IBTX). Monarch Asset Mgmt Ltd Liability Corp invested 0.38% in Independent Bank Group, Inc. (NASDAQ:IBTX). Schwab Charles Invest Management Inc has invested 0.01% in Independent Bank Group, Inc. (NASDAQ:IBTX).

Since April 2, 2018, it had 4 insider purchases, and 3 insider sales for $3.80 million activity. Shares for $1.85 million were bought by SMITH G STACY. HOLMES CRAIG E also bought $74,183 worth of Independent Bank Group, Inc. (NASDAQ:IBTX) shares. $377,801 worth of stock was sold by Webb Jan C on Thursday, May 31. $32,858 worth of stock was sold by Hickox Michelle S on Friday, September 14.

The stock of Independent Bank Group, Inc. (IBTX) formed a down wedge with $60.25 target or 7.00 % below today’s $64.79 share price. The 7 months wedge indicates high risk for the $1.97B company. If the $60.25 price target is reached, the company will be worth $138.18M less.
Falling wedges are poor performers for bullish breakouts and are tricky moments to trade. Investors must be aware that the break even failure rate for up or down breakouts is: 11% and 15%. The average rise is 32% and the decline is 15%. The falling wedges has high throwback and pullback rate: 56%, 69% and the percent of wedges meeting target is not very high.

The stock decreased 1.16% or $0.76 during the last trading session, reaching $64.79. About 123,650 shares traded. Independent Bank Group, Inc. (NASDAQ:IBTX) has risen 17.14% since October 2, 2017 and is uptrending. It has outperformed by 1.52% the S&P500.

Analysts await Independent Bank Group, Inc. (NASDAQ:IBTX) to report earnings on October, 22. They expect $1.20 EPS, up 34.83 % or $0.31 from last year’s $0.89 per share. IBTX’s profit will be $36.56 million for 13.50 P/E if the $1.20 EPS becomes a reality. After $1.11 actual EPS reported by Independent Bank Group, Inc. for the previous quarter, Wall Street now forecasts 8.11 % EPS growth.

More news for Independent Bank Group, Inc. (NASDAQ:IBTX) were recently published by: Globenewswire.com, which released: “Independent Bank Adds Edwards and Geronazzo to Colorado Lending Teams” on September 19, 2018. Globenewswire.com‘s article titled: “Independent Bank Celebrates the Opening of Denver Tech Center Branch” and published on September 13, 2018 is yet another important article.

Independent Bank Group, Inc. operates as the bank holding firm for Independent Bank that provides a range of commercial banking services and products to businesses, professionals, and individuals in the United States. The company has market cap of $1.97 billion. It offers various deposit products, including checking and savings accounts, demand accounts, money market accounts, and certificates of deposit, as well as individual retirement accounts. It has a 18.15 P/E ratio. The firm also provides commercial real estate loans; commercial construction, land, and land development loans; residential real estate loans; single family interim construction loans; commercial loans comprising SBA guaranteed loans, business term loans, equipment financing, and lines of credit and energy related loans; agricultural loans for farmers and ranchers; consumer loans, such as installment loans comprising loans to purchase cars, boats, and other recreational vehicles; and residential mortgages.

Independent Bank Group, Inc. (NASDAQ:IBTX) Institutional Positions Chart

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