Independent Bank Group Inc. (IBTX) CEO David R. Brooks Sells 63,923 Shares of Stock
Independent Bank Group Inc. (NASDAQ:IBTX) CEO David R. Brooks sold 63,923 shares of the business’s stock in a transaction that occurred on Friday, November 11th. The stock was sold at an average price of $51.44, for a total value of $3,288,199.12. Following the completion of the sale, the chief executive officer now directly owns 860,382 shares in the company, valued at $44,258,050.08. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.
Independent Bank Group Inc. (NASDAQ:IBTX) opened at 52.90 on Tuesday. The company has a market capitalization of $977.01 million, a PE ratio of 19.81 and a beta of 1.18. The company has a 50-day moving average price of $46.49 and a 200 day moving average price of $42.32. Independent Bank Group Inc. has a 52-week low of $25.50 and a 52-week high of $54.95.
Independent Bank Group (NASDAQ:IBTX) last issued its earnings results on Monday, October 24th. The company reported $0.78 EPS for the quarter, topping the Zacks’ consensus estimate of $0.76 by $0.02. Independent Bank Group had a net margin of 22.20% and a return on equity of 8.23%. During the same quarter last year, the firm earned $0.47 EPS. Equities research analysts anticipate that Independent Bank Group Inc. will post $2.89 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, November 18th. Stockholders of record on Monday, November 7th will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, November 3rd. This is a positive change from Independent Bank Group’s previous quarterly dividend of $0.08. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.76%. Independent Bank Group’s dividend payout ratio (DPR) is 14.98%.
IBTX has been the topic of a number of analyst reports. Hovde Group boosted their price target on Independent Bank Group from $43.00 to $45.50 and gave the stock a “market perform” rating in a research report on Wednesday, July 27th. Keefe, Bruyette & Woods boosted their price target on Independent Bank Group from $40.00 to $47.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 27th. Finally, Zacks Investment Research cut Independent Bank Group from a “buy” rating to a “hold” rating in a research report on Wednesday, September 28th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $44.36.
Several institutional investors have recently modified their holdings of the company. Nationwide Fund Advisors raised its position in shares of Independent Bank Group by 327.3% in the second quarter. Nationwide Fund Advisors now owns 27,234 shares of the company’s stock worth $1,169,000 after buying an additional 20,860 shares during the period. Geneva Advisors LLC acquired a new position in shares of Independent Bank Group during the second quarter valued at about $800,000. First Trust Advisors LP raised its position in shares of Independent Bank Group by 2.8% in the second quarter. First Trust Advisors LP now owns 18,231 shares of the company’s stock valued at $782,000 after buying an additional 489 shares during the last quarter. Emerald Acquisition Ltd. acquired a new position in shares of Independent Bank Group during the second quarter valued at about $985,000. Finally, DUPONT CAPITAL MANAGEMENT Corp acquired a new position in shares of Independent Bank Group during the second quarter valued at about $1,206,000. 34.23% of the stock is currently owned by institutional investors and hedge funds.
About Independent Bank Group
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.
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