Independent Bank Group Inc. (NASDAQ:IBTX) CEO David R. Brooks sold 10,000 shares of the firm’s stock in a transaction on Wednesday, October 26th. The shares were sold at an average price of $49.25, for a total transaction of $492,500.00. Following the completion of the transaction, the chief executive officer now directly owns 870,382 shares of the company’s stock, valued at $42,866,313.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.
Shares of Independent Bank Group Inc. (NASDAQ:IBTX) opened at 48.20 on Monday. Independent Bank Group Inc. has a 52-week low of $25.50 and a 52-week high of $49.40. The stock’s 50 day moving average price is $44.94 and its 200 day moving average price is $40.87. The company has a market capitalization of $891.12 million, a P/E ratio of 18.07 and a beta of 1.26.
Independent Bank Group (NASDAQ:IBTX) last posted its quarterly earnings data on Monday, October 24th. The company reported $0.78 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.76 by $0.02. Independent Bank Group had a return on equity of 8.23% and a net margin of 22.20%. During the same period in the prior year, the company posted $0.47 earnings per share. On average, equities research analysts forecast that Independent Bank Group Inc. will post $2.87 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 18th. Investors of record on Monday, November 7th will be paid a $0.10 dividend. This is an increase from Independent Bank Group’s previous quarterly dividend of $0.08. This represents a $0.40 annualized dividend and a yield of 0.83%. The ex-dividend date of this dividend is Thursday, November 3rd. Independent Bank Group’s dividend payout ratio is currently 11.99%.
A number of hedge funds and other institutional investors have recently bought and sold shares of IBTX. BlackRock Inc. increased its position in Independent Bank Group by 378.3% in the second quarter. BlackRock Inc. now owns 2,803 shares of the company’s stock valued at $120,000 after buying an additional 2,217 shares in the last quarter. Citadel Advisors LLC purchased a new position in Independent Bank Group during the second quarter valued at approximately $213,000. Parametric Portfolio Associates LLC purchased a new position in Independent Bank Group during the second quarter valued at approximately $217,000. BlackRock Advisors LLC increased its position in Independent Bank Group by 87.6% in the second quarter. BlackRock Advisors LLC now owns 5,318 shares of the company’s stock valued at $228,000 after buying an additional 2,484 shares in the last quarter. Finally, American International Group Inc. increased its position in Independent Bank Group by 12.6% in the second quarter. American International Group Inc. now owns 6,398 shares of the company’s stock valued at $275,000 after buying an additional 718 shares in the last quarter. 33.91% of the stock is owned by hedge funds and other institutional investors.
A number of research analysts recently weighed in on the stock. Keefe, Bruyette & Woods raised their target price on shares of Independent Bank Group from $40.00 to $47.00 and gave the company a “market perform” rating in a report on Wednesday, July 27th. Zacks Investment Research raised shares of Independent Bank Group from a “hold” rating to a “buy” rating and set a $54.00 price objective for the company in a research note on Thursday. Raymond James Financial Inc. assumed coverage on shares of Independent Bank Group in a research note on Thursday, July 7th. They set an “outperform” rating and a $44.00 price objective for the company. Finally, Hovde Group lifted their price objective on shares of Independent Bank Group from $43.00 to $45.50 and gave the stock a “market perform” rating in a research note on Wednesday, July 27th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $44.36.
Independent Bank Group Company Profile