Independent Bank Group Inc. (IBTX) EVP Jan C. Webb Sells 5,000 Shares
Independent Bank Group Inc. (NASDAQ:IBTX) EVP Jan C. Webb sold 5,000 shares of Independent Bank Group stock in a transaction that occurred on Thursday, November 10th. The shares were sold at an average price of $50.25, for a total transaction of $251,250.00. Following the completion of the sale, the executive vice president now owns 21,495 shares of the company’s stock, valued at $1,080,123.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Independent Bank Group Inc. (NASDAQ:IBTX) opened at 52.90 on Tuesday. Independent Bank Group Inc. has a 52 week low of $25.50 and a 52 week high of $54.95. 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 of $46.49 and a 200-day moving average of $42.32.
Independent Bank Group (NASDAQ:IBTX) last released its earnings results on Monday, October 24th. The company reported $0.78 earnings per share for the quarter, beating 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 in the prior year, the company posted $0.47 earnings per share. On average, equities research analysts anticipate that Independent Bank Group Inc. will post $2.89 EPS 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. This is an increase 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%. The ex-dividend date of this dividend is Thursday, November 3rd. Independent Bank Group’s dividend payout ratio is currently 14.98%.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in IBTX. BlackRock Inc. increased its position in Independent Bank Group by 378.3% in the second quarter. BlackRock Inc. now owns 2,803 shares of the company’s stock worth $120,000 after buying an additional 2,217 shares in the last quarter. Citadel Advisors LLC bought a new position in Independent Bank Group during the second quarter worth $213,000. Parametric Portfolio Associates LLC bought a new position in Independent Bank Group during the second quarter worth $217,000. BlackRock Advisors LLC increased its position in Independent Bank Group by 87.6% in the second quarter. BlackRock Advisors LLC now owns 5,318 shares of the company’s stock worth $228,000 after buying an additional 2,484 shares in the last quarter. Finally, BlackRock Group LTD increased its position in Independent Bank Group by 8.4% in the third quarter. BlackRock Group LTD now owns 5,483 shares of the company’s stock worth $242,000 after buying an additional 423 shares in the last quarter. 34.23% of the stock is owned by hedge funds and other institutional investors.
IBTX has been the subject of a number of analyst reports. Zacks Investment Research downgraded shares of Independent Bank Group from a “buy” rating to a “hold” rating in a research report on Wednesday, September 28th. Hovde Group lifted their price target on shares of 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 lifted their price objective on shares of Independent Bank Group from $40.00 to $47.00 and gave the company a “market perform” rating in a research note on Wednesday, July 27th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $44.36.
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.
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