Independent Bank Group Inc. (NASDAQ:IBTX) Vice Chairman Daniel W. Brooks sold 5,000 shares of the company’s stock in a transaction dated Tuesday, October 4th. The shares were sold at an average price of $44.00, for a total value of $220,000.00. Following the completion of the sale, the insider now owns 172,828 shares in the company, valued at approximately $7,604,432. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.
Independent Bank Group Inc. (NASDAQ:IBTX) opened at 43.79 on Thursday. The firm has a market capitalization of $809.02 million, a P/E ratio of 18.49 and a beta of 1.26. The company’s 50-day moving average price is $43.87 and its 200-day moving average price is $38.78. Independent Bank Group Inc. has a 1-year low of $25.50 and a 1-year high of $45.00.
Independent Bank Group (NASDAQ:IBTX) last released its quarterly earnings results on Monday, July 25th. The company reported $0.74 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.70 by $0.04. Independent Bank Group had a return on equity of 7.64% and a net margin of 20.35%. The business had revenue of $50.81 million for the quarter, compared to the consensus estimate of $50.21 million. The business’s revenue was up 21.3% compared to the same quarter last year. Equities research analysts expect that Independent Bank Group Inc. will post $2.86 earnings per share for the current fiscal year.
A number of large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. increased its stake in Independent Bank Group by 378.3% in the second quarter. BlackRock Inc. now owns 2,803 shares of the company’s stock worth $120,000 after buying an additional 2,217 shares during the last quarter. Citadel Advisors LLC purchased a new stake in Independent Bank Group during the second quarter worth $213,000. Parametric Portfolio Associates LLC purchased a new stake in Independent Bank Group during the second quarter worth $217,000. BlackRock Advisors LLC increased its stake in Independent Bank Group by 87.6% in the second quarter. BlackRock Advisors LLC now owns 5,318 shares of the company’s stock worth $228,000 after buying an additional 2,484 shares during the last quarter. Finally, American International Group Inc. increased its stake 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 worth $275,000 after buying an additional 718 shares during the last quarter. Institutional investors and hedge funds own 33.92% of the company’s stock.
IBTX has been the topic of a number of analyst reports. Zacks Investment Research lowered Independent Bank Group from a “buy” rating to a “hold” rating in a research report on Wednesday, September 28th. Evercore ISI upgraded Independent Bank Group from a “hold” rating to a “buy” rating and set a $49.00 price target on the stock in a research report on Thursday, June 9th. Hovde Group upped their price target on Independent Bank Group from $43.00 to $45.50 and gave the company a “market perform” rating in a research report on Wednesday, July 27th. Keefe, Bruyette & Woods upped their price target on Independent Bank Group from $40.00 to $47.00 and gave the company a “market perform” rating in a research report on Wednesday, July 27th. Finally, Raymond James Financial Inc. assumed coverage on Independent Bank Group in a research report on Thursday, July 7th. They issued an “outperform” rating and a $44.00 price target on the stock. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $43.50.
Independent Bank Group Company Profile
Independent Bank Group, Inc is a bank holding company. Through the Company’s subsidiary, Independent Bank (the Bank), it provides a range of commercial banking products and services tailored to meet the needs of businesses, professionals and individuals. Its commercial lending products include owner-occupied commercial real estate loans, interim construction loans, commercial loans to a mix of small and midsized businesses, and loans to professionals, particularly medical practices.
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