Independent Bank Group, Inc (IBTX) Vice Chairman Daniel W. Brooks Sells 17,397 Shares
Independent Bank Group, Inc (NASDAQ:IBTX) Vice Chairman Daniel W. Brooks sold 17,397 shares of Independent Bank Group stock in a transaction on Tuesday, October 24th. The stock was sold at an average price of $62.56, for a total transaction of $1,088,356.32. Following the sale, the insider now directly owns 142,332 shares of the company’s stock, valued at $8,904,289.92. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.
Shares of Independent Bank Group, Inc (NASDAQ IBTX) traded up 5.17% during trading on Tuesday, hitting $64.10. 420,314 shares of the company traded hands. The firm has a 50 day moving average price of $59.03 and a 200-day moving average price of $59.07. Independent Bank Group, Inc has a one year low of $44.45 and a one year high of $66.85. The stock has a market cap of $1.78 billion, a price-to-earnings ratio of 21.41 and a beta of 1.28.
Independent Bank Group (NASDAQ:IBTX) last posted its quarterly earnings results on Monday, October 23rd. The bank reported $0.89 EPS for the quarter, topping the consensus estimate of $0.88 by $0.01. The business had revenue of $84.99 million during the quarter, compared to analysts’ expectations of $83.00 million. Independent Bank Group had a net margin of 23.52% and a return on equity of 8.43%. During the same period last year, the company posted $0.78 earnings per share. Analysts predict that Independent Bank Group, Inc will post $3.30 EPS for the current year.
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IBTX has been the subject of a number of research reports. Piper Jaffray Companies reissued a “buy” rating and issued a $76.00 price target on shares of Independent Bank Group in a research report on Thursday, October 19th. Zacks Investment Research raised shares of Independent Bank Group from a “sell” rating to a “hold” rating in a report on Friday, October 6th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $71.00 target price on shares of Independent Bank Group in a report on Wednesday, October 4th. BidaskClub lowered shares of Independent Bank Group from a “hold” rating to a “sell” rating in a research note on Tuesday, August 22nd. Finally, Hovde Group upgraded shares of Independent Bank Group from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $68.00 to $69.00 in a research note on Wednesday, July 26th. One analyst has rated the stock with a sell rating, one has given a hold rating and six have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $71.40.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Stone Point Capital LLC acquired a new stake in Independent Bank Group in the second quarter valued at approximately $104,909,000. HarbourVest Partners LLC acquired a new stake in Independent Bank Group in the second quarter valued at approximately $44,821,000. Vanguard Group Inc. lifted its stake in Independent Bank Group by 18.1% in the second quarter. Vanguard Group Inc. now owns 616,447 shares of the bank’s stock valued at $36,678,000 after acquiring an additional 94,580 shares during the last quarter. Alliancebernstein L.P. lifted its stake in Independent Bank Group by 13.1% in the second quarter. Alliancebernstein L.P. now owns 541,800 shares of the bank’s stock valued at $32,237,000 after acquiring an additional 62,710 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its stake in Independent Bank Group by 13.3% in the second quarter. Goldman Sachs Group Inc. now owns 525,689 shares of the bank’s stock valued at $31,279,000 after acquiring an additional 61,697 shares during the last quarter. Hedge funds and other institutional investors own 46.62% of the company’s stock.
Independent Bank Group Company Profile
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.
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