Insider Buying: Torry Berntsen Purchases 250 Shares of Independent Bank Group Stock (IBTX)
Independent Bank Group (NASDAQ:IBTX) COO Torry Berntsen bought 250 shares of the stock on the open market in a transaction dated Friday, August 8th. The shares were purchased at an average price of $48.13 per share, with a total value of $12,032.50. Following the acquisition, the chief operating officer now directly owns 68,329 shares of the company’s stock, valued at approximately $3,288,675. The purchase was disclosed in a filing with the SEC, which can be accessed through this link.
A number of research firms have recently commented on IBTX. Analysts at Zacks downgraded shares of Independent Bank Group from a “neutral” rating to an “underperform” rating in a research note on Tuesday. They now have a $46.00 price target on the stock. Separately, 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. 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. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company. The company has an average rating of “Hold” and an average price target of $52.83.
Shares of Independent Bank Group (NASDAQ:IBTX) traded down 0.79% on Friday, hitting $47.67. 39,730 shares of the company’s stock traded hands. Independent Bank Group has a one year low of $33.35 and a one year high of $61.49. The stock has a 50-day moving average of $51.61 and a 200-day moving average of $52.63. The company has a market cap of $780.4 million and a P/E ratio of 34.79.
Independent Bank Group (NASDAQ:IBTX) last issued its quarterly earnings data 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. Analysts expect that Independent Bank Group will post $2.07 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Thursday, August 28th. Stockholders of record on Monday, August 18th will be paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 0.50%. The ex-dividend date is Thursday, August 14th.
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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