The 10,000 Shares of Independent Bank Group Inc. (IBTX) Stock are sold by David R. Brooks

The 10,000 Shares of Independent Bank Group Inc. (IBTX) Stock are sold by David R. Brooks

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

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