Insider Buying: Independent Bank Group CEO Purchases 1,000 Shares of Stock (IBTX)
Independent Bank Group (NASDAQ:IBTX) CEO David R. Brooks acquired 1,000 shares of the company’s stock in a transaction that occurred on Thursday, June 5th. The stock was purchased at an average cost of $48.72 per share, for a total transaction of $48,720.00. Following the acquisition, the chief executive officer now directly owns 1,008,804 shares in the company, valued at approximately $49,148,931. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link.
Shares of Independent Bank Group (NASDAQ:IBTX) opened at 50.48 on Friday. Independent Bank Group has a 1-year low of $28.60 and a 1-year high of $61.49. The stock’s 50-day moving average is $49.66 and its 200-day moving average is $51.15. The company has a market cap of $826.2 million and a price-to-earnings ratio of 40.51.
Independent Bank Group (NASDAQ:IBTX) last posted its quarterly earnings results on Wednesday, April 30th. The company reported $0.38 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.42 by $0.04. Analysts expect that Independent Bank Group will post $2.21 EPS for the current fiscal year.
IBTX has been the subject of a number of recent research reports. 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.
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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