Independent Bank Group, Inc (IBTX) Vice Chairman Sells $1,365,975.00 in Stock

Independent Bank Group, Inc (NASDAQ:IBTX) Vice Chairman Brian E. Hobart sold 22,500 shares of Independent Bank Group stock in a transaction that occurred on Monday, October 16th. The shares were sold at an average price of $60.71, for a total value of $1,365,975.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Independent Bank Group, Inc (NASDAQ IBTX) opened at 64.65 on Friday. The firm’s 50-day moving average is $59.28 and its 200 day moving average is $59.10. Independent Bank Group, Inc has a 52-week low of $44.45 and a 52-week high of $66.85. The stock has a market capitalization of $1.80 billion, a PE ratio of 21.59 and a beta of 1.29.



Independent Bank Group (NASDAQ:IBTX) last posted its earnings results on Monday, October 23rd. The bank reported $0.89 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.88 by $0.01. The company had revenue of $84.99 million for the quarter, compared to analyst estimates of $83.00 million. Independent Bank Group had a net margin of 23.46% and a return on equity of 9.06%. During the same period last year, the business posted $0.78 earnings per share. On average, equities analysts forecast that Independent Bank Group, Inc will post $3.29 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 16th. Shareholders of record on Monday, November 6th will be issued a $0.10 dividend. The ex-dividend date is Friday, November 3rd. This represents a $0.40 annualized dividend and a yield of 0.62%. Independent Bank Group’s dividend payout ratio (DPR) is presently 12.90%.

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A number of institutional investors and hedge funds have recently bought and sold shares of the business. Alps Advisors Inc. increased its position in shares of Independent Bank Group by 0.3% during the second quarter. Alps Advisors Inc. now owns 7,559 shares of the bank’s stock worth $450,000 after acquiring an additional 20 shares in the last quarter. Public Employees Retirement System of Ohio increased its position in shares of Independent Bank Group by 16.2% during the first quarter. Public Employees Retirement System of Ohio now owns 2,790 shares of the bank’s stock worth $179,000 after acquiring an additional 389 shares in the last quarter. American International Group Inc. increased its position in shares of Independent Bank Group by 7.1% during the first quarter. American International Group Inc. now owns 6,841 shares of the bank’s stock worth $440,000 after acquiring an additional 451 shares in the last quarter. California Public Employees Retirement System increased its position in shares of Independent Bank Group by 10.9% during the second quarter. California Public Employees Retirement System now owns 6,100 shares of the bank’s stock worth $363,000 after acquiring an additional 600 shares in the last quarter. Finally, Swiss National Bank increased its position in shares of Independent Bank Group by 4.0% during the first quarter. Swiss National Bank now owns 18,252 shares of the bank’s stock worth $1,174,000 after acquiring an additional 700 shares in the last quarter. Institutional investors own 46.62% of the company’s stock.

Several equities research analysts recently commented on IBTX shares. Piper Jaffray Companies reissued a “buy” rating and set a $76.00 target price on shares of Independent Bank Group in a report on Friday, September 1st. BidaskClub cut Independent Bank Group from a “hold” rating to a “sell” rating in a report on Wednesday, July 19th. Hovde Group raised Independent Bank Group from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $68.00 to $69.00 in a report on Wednesday, July 26th. Stephens reissued a “buy” rating and set a $71.00 target price on shares of Independent Bank Group in a report on Tuesday, July 25th. Finally, Zacks Investment Research upgraded shares of Independent Bank Group from a “sell” rating to a “hold” rating in a research report on Friday, October 6th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and six have issued a buy rating to the company’s stock. Independent Bank Group has a consensus rating of “Buy” and a consensus target price of $71.40.

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.

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

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