Independent Bank Group, Inc (IBTX) Vice Chairman Daniel W. Brooks Sells 7,497 Shares
Independent Bank Group, Inc (NASDAQ:IBTX) Vice Chairman Daniel W. Brooks sold 7,497 shares of Independent Bank Group stock in a transaction dated Friday, October 20th. The shares were sold at an average price of $61.50, for a total value of $461,065.50. Following the completion of the transaction, the insider now owns 142,332 shares in the company, valued at approximately $8,753,418. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Independent Bank Group, Inc (NASDAQ:IBTX) traded up 5.17% during trading on Tuesday, hitting $64.10. The company had a trading volume of 420,314 shares. Independent Bank Group, Inc has a 1-year low of $44.45 and a 1-year high of $66.85. The company’s 50 day moving average price is $59.03 and its 200-day moving average price is $59.07. The stock has a market capitalization 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 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.01. Independent Bank Group had a return on equity of 8.43% and a net margin of 23.52%. The business had revenue of $84.99 million for the quarter, compared to analyst estimates of $83.00 million. During the same period last year, the company earned $0.78 EPS. On average, analysts expect that Independent Bank Group, Inc will post $3.30 EPS for the current year.
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A number of institutional investors and hedge funds have recently bought and sold shares of IBTX. Stone Point Capital LLC purchased a new stake in Independent Bank Group in the 2nd quarter worth approximately $104,909,000. Principal Financial Group Inc. lifted its holdings in Independent Bank Group by 157.7% in the 1st quarter. Principal Financial Group Inc. now owns 152,813 shares of the bank’s stock worth $9,826,000 after buying an additional 93,513 shares during the period. First Trust Advisors LP lifted its holdings in Independent Bank Group by 6.9% in the 2nd quarter. First Trust Advisors LP now owns 79,444 shares of the bank’s stock worth $4,727,000 after buying an additional 5,111 shares during the period. Summit Creek Advisors LLC purchased a new stake in Independent Bank Group in the 2nd quarter worth approximately $6,781,000. Finally, Citadel Advisors LLC lifted its holdings in Independent Bank Group by 190.9% in the 2nd quarter. Citadel Advisors LLC now owns 10,534 shares of the bank’s stock worth $627,000 after buying an additional 6,913 shares during the period. Institutional investors and hedge funds own 46.62% of the company’s stock.
A number of brokerages have recently commented on IBTX. Piper Jaffray Companies reissued a “buy” rating and set a $76.00 price target on shares of Independent Bank Group in a research note on Thursday, October 19th. Zacks Investment Research raised Independent Bank Group from a “sell” rating to a “hold” rating in a research note on Friday, October 6th. Keefe, Bruyette & Woods reissued a “buy” rating and set a $71.00 price target on shares of Independent Bank Group in a research note on Wednesday, October 4th. BidaskClub lowered Independent Bank Group from a “hold” rating to a “sell” rating in a research note on Tuesday, August 22nd. Finally, Hovde Group raised Independent Bank Group from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $68.00 to $69.00 in a research note on Wednesday, July 26th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the company. Independent Bank Group presently has an average rating of “Buy” and a consensus price target of $71.40.
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.
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