Jan C. Webb Sells 5,000 Shares of Independent Bank Group Inc. (IBTX) Stock
Independent Bank Group Inc. (NASDAQ:IBTX) EVP Jan C. Webb sold 5,000 shares of the business’s stock in a transaction dated Wednesday, October 12th. The shares were sold at an average price of $45.00, for a total value of $225,000.00. Following the completion of the sale, the executive vice president now directly owns 31,495 shares of the company’s stock, valued at $1,417,275. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.
Independent Bank Group Inc. (NASDAQ:IBTX) opened at 45.15 on Friday. Independent Bank Group Inc. has a 1-year low of $25.50 and a 1-year high of $46.95. The firm has a market capitalization of $834.15 million, a P/E ratio of 19.07 and a beta of 1.26. The company has a 50-day moving average price of $44.09 and a 200-day moving average price of $39.30.
Independent Bank Group (NASDAQ:IBTX) last released its quarterly earnings data on Monday, July 25th. The company reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.70 by $0.04. Independent Bank Group had a net margin of 20.35% and a return on equity of 7.64%. The business earned $50.81 million during the quarter, compared to analyst estimates of $50.21 million. The business’s revenue was up 21.3% on a year-over-year basis. On average, equities research analysts predict that Independent Bank Group Inc. will post $2.86 earnings per share for the current fiscal year.
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Several large investors have recently added to or reduced their stakes in IBTX. BlackRock Inc. raised its stake in Independent Bank Group by 378.3% in the second quarter. BlackRock Inc. now owns 2,803 shares of the company’s stock valued at $120,000 after buying an additional 2,217 shares during the last quarter. Citadel Advisors LLC acquired a new stake in Independent Bank Group during the second quarter valued at about $213,000. Parametric Portfolio Associates LLC acquired a new stake in Independent Bank Group during the second quarter valued at about $217,000. BlackRock Advisors LLC raised its stake in Independent Bank Group by 87.6% in the second quarter. BlackRock Advisors LLC now owns 5,318 shares of the company’s stock valued at $228,000 after buying an additional 2,484 shares during the last quarter. Finally, American International Group Inc. raised its stake in Independent Bank Group by 12.6% in the second quarter. American International Group Inc. now owns 6,398 shares of the company’s stock valued at $275,000 after buying an additional 718 shares during the last quarter. 33.92% of the stock is owned by institutional investors and hedge funds.
Several research firms have recently weighed in on IBTX. Zacks Investment Research raised Independent Bank Group from a “hold” rating to a “buy” rating and set a $48.00 target price for the company in a report on Thursday, June 30th. Hovde Group boosted their target price on Independent Bank Group from $43.00 to $45.50 and gave the company a “market perform” rating in a report on Wednesday, July 27th. Keefe, Bruyette & Woods boosted their target price on Independent Bank Group from $40.00 to $47.00 and gave the company a “market perform” rating in a report on Wednesday, July 27th. Finally, Raymond James Financial Inc. began coverage on Independent Bank Group in a report on Thursday, July 7th. They issued an “outperform” rating and a $44.00 target price for the company. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $43.50.
Independent Bank Group Company Profile
Independent Bank Group, Inc is a bank holding company. Through the Company’s subsidiary, Independent Bank (the Bank), it provides a range of commercial banking products and services tailored to meet the needs of businesses, professionals and individuals. Its commercial lending products include owner-occupied commercial real estate loans, interim construction loans, commercial loans to a mix of small and midsized businesses, and loans to professionals, particularly medical practices.
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