Independent Bank Group, Inc (NASDAQ:IBTX) Director John Webb Jennings III sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $61.78, for a total transaction of $185,340.00. Following the completion of the transaction, the director now directly owns 38,350 shares of the company’s stock, valued at approximately $2,369,263. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Independent Bank Group, Inc (NASDAQ IBTX) traded down 0.65% during trading on Monday, reaching $61.45. 65,786 shares of the company were exchanged. The firm has a 50-day moving average of $58.91 and a 200-day moving average of $60.97. The firm has a market cap of $1.71 billion, a price-to-earnings ratio of 20.52 and a beta of 1.26. Independent Bank Group, Inc has a 52-week low of $41.49 and a 52-week high of $66.85.

Independent Bank Group (NASDAQ:IBTX) last issued its earnings results on Monday, July 24th. The bank reported $0.82 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.82. Independent Bank Group had a net margin of 23.52% and a return on equity of 8.43%. The firm had revenue of $80.50 million during the quarter, compared to the consensus estimate of $81.31 million. During the same quarter in the prior year, the firm earned $0.74 earnings per share. The business’s quarterly revenue was up 58.4% on a year-over-year basis. On average, equities analysts forecast that Independent Bank Group, Inc will post $3.34 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 17th. Shareholders of record on Monday, August 7th will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.65%. The ex-dividend date of this dividend is Thursday, August 3rd. Independent Bank Group’s payout ratio is presently 13.16%.

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A number of equities analysts recently commented on the stock. Stephens reaffirmed a “buy” rating on shares of Independent Bank Group in a research note on Monday, April 24th. Zacks Investment Research lowered shares of Independent Bank Group from a “buy” rating to a “hold” rating in a research note on Thursday, April 27th. Hovde Group raised shares of Independent Bank Group from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $68.00 to $69.00 in a research note on Wednesday, July 26th. Keefe, Bruyette & Woods raised shares of Independent Bank Group from a “market perform” rating to an “outperform” rating and set a $71.00 price objective for the company in a research note on Wednesday, July 26th. Finally, BidaskClub lowered shares of Independent Bank Group from a “hold” rating to a “sell” rating in a research note on Wednesday, July 19th. Two research analysts have rated the stock with a sell rating and five have given a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $69.60.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Stone Point Capital LLC bought a new position in Independent Bank Group during the second quarter valued at $104,909,000. Castle Creek Capital Partners IV LP bought a new position in Independent Bank Group during the second quarter valued at $20,381,000. Mesirow Financial Investment Management Equity Management boosted its position in Independent Bank Group by 4,430.6% in the first quarter. Mesirow Financial Investment Management Equity Management now owns 280,443 shares of the bank’s stock valued at $18,031,000 after buying an additional 274,253 shares during the period. Chartwell Investment Partners LLC bought a new position in Independent Bank Group during the first quarter valued at $13,564,000. Finally, Next Century Growth Investors LLC bought a new position in Independent Bank Group during the first quarter valued at $9,832,000. Institutional investors own 41.45% of the company’s stock.

About Independent Bank Group

Independent Bank Group, Inc is a bank holding company. Through the Company’s subsidiary, Independent Bank (the Bank), the Company provides a range of commercial banking products and services tailored to meet the needs of businesses, professionals and individuals. As of December 31, 2016, the Company operated 41 banking offices in the Dallas/North Texas area, the Austin/Central Texas area, and the Houston metropolitan area.

Insider Buying and Selling by Quarter for Independent Bank Group (NASDAQ:IBTX)

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