Daniel W. Brooks Sells 10,000 Shares of Independent Bank Group Inc. (IBTX) Stock
Independent Bank Group Inc. (NASDAQ:IBTX) Vice Chairman Daniel W. Brooks sold 10,000 shares of the firm’s stock in a transaction dated Thursday, November 10th. The stock was sold at an average price of $50.88, for a total value of $508,800.00. Following the transaction, the insider now directly owns 157,858 shares in the company, valued at approximately $8,031,815.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.
Shares of Independent Bank Group Inc. (NASDAQ:IBTX) opened at 53.70 on Wednesday. Independent Bank Group Inc. has a one year low of $25.50 and a one year high of $54.95. The stock has a market cap of $991.79 million, a price-to-earnings ratio of 20.10 and a beta of 1.18. The firm has a 50-day moving average price of $46.79 and a 200-day moving average price of $42.44.
Independent Bank Group (NASDAQ:IBTX) last issued its earnings results on Monday, October 24th. The company reported $0.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 period last year, the firm posted $0.47 EPS. Analysts anticipate that Independent Bank Group Inc. will post $2.89 earnings per share for the current fiscal 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 paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.74%. 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. Independent Bank Group’s dividend payout ratio is 14.98%.
IBTX has been the topic of a number of research reports. Zacks Investment Research lowered Independent Bank Group from a “buy” rating to a “hold” rating in a report on Wednesday, September 28th. Hovde Group raised their price target on Independent Bank Group from $43.00 to $45.50 and gave the stock a “market perform” rating in a report on Wednesday, July 27th. Finally, Keefe, Bruyette & Woods raised their price target on Independent Bank Group from $40.00 to $47.00 and gave the stock a “market perform” rating in a report on Wednesday, July 27th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Independent Bank Group currently has a consensus rating of “Buy” and a consensus price target of $44.36.
Several large investors have recently modified their holdings of IBTX. Nationwide Fund Advisors raised its stake 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 bought a new stake in shares of Independent Bank Group during the second quarter worth about $800,000. First Trust Advisors LP raised its stake 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 worth $782,000 after buying an additional 489 shares during the period. Emerald Acquisition Ltd. bought a new stake in shares of Independent Bank Group during the second quarter worth about $985,000. Finally, DUPONT CAPITAL MANAGEMENT Corp bought a new stake in shares of Independent Bank Group during the second quarter worth about $1,206,000. Institutional investors and hedge funds own 34.23% of the company’s stock.
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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