Independent Bank Group Inc. (NASDAQ:IBTX) Vice Chairman Daniel W. Brooks sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 4th. The shares were sold at an average price of $44.00, for a total value of $220,000.00. Following the sale, the insider now owns 172,828 shares in the company, valued at $7,604,432. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Independent Bank Group Inc. (NASDAQ:IBTX) traded down 0.20% during trading on Friday, reaching $44.00. The company’s stock had a trading volume of 4,264 shares. The company’s 50 day moving average price is $43.91 and its 200-day moving average price is $38.81. Independent Bank Group Inc. has a 1-year low of $25.50 and a 1-year high of $45.00. The stock has a market cap of $812.90 million, a P/E ratio of 18.58 and a beta of 1.26.

Independent Bank Group (NASDAQ:IBTX) last released its quarterly earnings results on Monday, July 25th. The company reported $0.74 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.70 by $0.04. The business earned $50.81 million during the quarter, compared to analysts’ expectations of $50.21 million. Independent Bank Group had a return on equity of 7.64% and a net margin of 20.35%. The firm’s revenue was up 21.3% on a year-over-year basis. Equities analysts forecast that Independent Bank Group Inc. will post $2.86 earnings per share for the current fiscal year.

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

A number of hedge funds have recently added to or reduced their stakes in the company. Wellington Management Group LLP boosted its stake in Independent Bank Group by 654.0% in the first quarter. Wellington Management Group LLP now owns 456,653 shares of the company’s stock valued at $12,513,000 after buying an additional 396,089 shares during the last quarter. Weatherbie Capital LLC raised its position in Independent Bank Group by 45.0% in the second quarter. Weatherbie Capital LLC now owns 245,309 shares of the company’s stock worth $10,526,000 after buying an additional 76,164 shares during the period. Envestnet Asset Management Inc. bought a new position in Independent Bank Group during the first quarter worth approximately $1,815,000. BlackRock Institutional Trust Company N.A. raised its position in Independent Bank Group by 40.7% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 200,821 shares of the company’s stock worth $8,617,000 after buying an additional 58,076 shares during the period. Finally, Vanguard Group Inc. raised its position in Independent Bank Group by 13.6% in the second quarter. Vanguard Group Inc. now owns 388,128 shares of the company’s stock worth $16,655,000 after buying an additional 46,369 shares during the period. 33.92% of the stock is owned by institutional investors and hedge funds.

A number of analysts have weighed in on IBTX shares. Evercore ISI upgraded Independent Bank Group from a “hold” rating to a “buy” rating and set a $49.00 price target on the stock in a research report on Thursday, June 9th. Zacks Investment Research upgraded Independent Bank Group from a “hold” rating to a “buy” rating and set a $48.00 price target on the stock in a research report on Thursday, June 30th. Raymond James Financial Inc. started coverage on Independent Bank Group in a research report on Thursday, July 7th. They issued an “outperform” rating and a $44.00 price target on the stock. Hovde Group upped their price target on Independent Bank Group from $43.00 to $45.50 and gave the company a “market perform” rating in a research report on Wednesday, July 27th. Finally, Keefe, Bruyette & Woods upped their price target on Independent Bank Group from $40.00 to $47.00 and gave the company a “market perform” rating in a research report on Wednesday, July 27th. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Independent Bank Group has a consensus rating of “Buy” and a consensus 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.

5 Day Chart for NASDAQ:IBTX

Receive News & Stock Ratings for Independent Bank Group Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Independent Bank Group Inc. and related stocks with our FREE daily email newsletter.