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Independent Bank Group (NASDAQ:IBTX) Director John Webb Jennings III purchased 2,000 shares of the company’s stock in a transaction dated Friday, August 1st. The shares were purchased at an average cost of $47.43 per share, with a total value of $94,860.00. Following the completion of the acquisition, the director now directly owns 34,250 shares in the company, valued at approximately $1,624,478. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Shares of Independent Bank Group (NASDAQ:IBTX) traded down 1.46% on Friday, hitting $47.31. The stock had a trading volume of 75,286 shares. Independent Bank Group has a 52-week low of $33.35 and a 52-week high of $61.49. The stock has a 50-day moving average of $52.46 and a 200-day moving average of $52.70. The company has a market cap of $774.5 million and a P/E ratio of 34.76.

Independent Bank Group (NASDAQ:IBTX) last issued its quarterly earnings data on Tuesday, July 29th. The company reported $0.57 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.56 by $0.01. Analysts expect that Independent Bank Group will post $2.32 EPS for the current fiscal year.

A number of research firms have recently commented on IBTX. Analysts at Macquarie upgraded shares of Independent Bank Group from a “neutral” rating to an “outperform” rating in a research note on Wednesday. They now have a $56.00 price target on the stock. Separately, analysts at Zacks upgraded shares of Independent Bank Group from an “underperform” rating to a “neutral” rating in a research note on Tuesday, July 1st. They now have a $56.70 price target on the stock. Finally, 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. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Independent Bank Group currently has an average rating of “Buy” and an average price target of $54.62.

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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