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Independent Bank Group (NASDAQ:IBTX) Director G Stacy Smith purchased 1,500 shares of the stock on the open market in a transaction that occurred on Monday, August 4th. The stock was purchased at an average price of $47.41 per share, for a total transaction of $71,115.00. Following the completion of the transaction, the director now directly owns 118,208 shares in the company, valued at approximately $5,604,241. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

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, July 30th. 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 research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $54.62.

Independent Bank Group (NASDAQ:IBTX) traded up 1.35% during mid-day trading on Monday, hitting $47.95. 38,935 shares of the company’s stock traded hands. 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 $784.9 million and a P/E ratio of 34.26.

Independent Bank Group (NASDAQ:IBTX) last announced its earnings results on Tuesday, July 29th. The company reported $0.57 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.56 by $0.01. On average, analysts predict that Independent Bank Group will post $2.32 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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