Insider Buying: Independent Bank Group COO Buys 2,500 Shares of Stock (IBTX)
Independent Bank Group (NASDAQ:IBTX) COO Torry Berntsen acquired 2,500 shares of Independent Bank Group stock on the open market in a transaction dated Thursday, June 5th. The shares were purchased at an average cost of $48.96 per share, with a total value of $122,400.00. Following the completion of the acquisition, the chief operating officer now directly owns 65,829 shares of the company’s stock, valued at approximately $3,222,988. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.
A number of research firms have recently commented on IBTX. Analysts at Sterne Agee initiated coverage on shares of Independent Bank Group in a research note on Friday, May 16th. They set a “buy” rating and a $56.00 price target on the stock. Separately, analysts at Stephens initiated coverage on shares of Independent Bank Group in a research note on Friday, April 4th. They set an “equal weight” rating and a $60.00 price target on the stock. Finally, analysts at Keefe, Bruyette & Woods raised their price target on shares of Independent Bank Group from $53.00 to $57.00 in a research note on Wednesday, March 19th.
Shares of Independent Bank Group (NASDAQ:IBTX) traded down 0.05% on Friday, hitting $50.376. 75,189 shares of the company’s stock traded hands. Independent Bank Group has a 52-week low of $28.38 and a 52-week high of $61.49. The stock’s 50-day moving average is $49.88 and its 200-day moving average is $51.. The company has a market cap of $824.5 million and a P/E ratio of 40.51.
Independent Bank Group (NASDAQ:IBTX) last issued its quarterly earnings data on Wednesday, April 30th. The company reported $0.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.42 by $0.04. On average, analysts predict that Independent Bank Group will post $2.20 earnings per share for the current fiscal year.
Independent Bank Group, Inc, is bank holding company. Through its wholly owned subsidiary, Independent Bank (NASDAQ:IBTX), a state chartered bank, the Company provides a range of commercial banking products and services for businesses, professionals and individuals.
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