Independent Bank Group Inc. (IBTX) CEO Sells $862,048.74 in Stock
Independent Bank Group Inc. (NASDAQ:IBTX) CEO David R. Brooks sold 16,077 shares of the stock in a transaction on Monday, November 14th. The shares were sold at an average price of $53.62, for a total value of $862,048.74. Following the sale, the chief executive officer now directly owns 800,382 shares in the company, valued at approximately $42,916,482.84. The sale was disclosed in a document filed with the SEC, which is available at this link.
Shares of Independent Bank Group Inc. (NASDAQ:IBTX) opened at 53.50 on Thursday. Independent Bank Group Inc. has a 52-week low of $25.50 and a 52-week high of $54.95. The stock has a 50 day moving average price of $47.06 and a 200-day moving average price of $42.52. The firm has a market cap of $988.09 million, a PE ratio of 20.03 and a beta of 1.18.
Independent Bank Group (NASDAQ:IBTX) last released its quarterly earnings data on Monday, October 24th. The company reported $0.78 EPS for the quarter, beating analysts’ consensus estimates of $0.76 by $0.02. Independent Bank Group had a return on equity of 8.23% and a net margin of 22.20%. During the same period in the previous year, the firm earned $0.47 EPS. On average, equities analysts anticipate that Independent Bank Group Inc. will post $2.89 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, November 18th. Shareholders of record on Monday, November 7th will be paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.75%. This is a boost from Independent Bank Group’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend is Thursday, November 3rd. Independent Bank Group’s dividend payout ratio is 14.98%.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in IBTX. Rhumbline Advisers boosted its position in Independent Bank Group by 1.0% in the third quarter. Rhumbline Advisers now owns 12,472 shares of the company’s stock worth $551,000 after buying an additional 125 shares during the period. California State Teachers Retirement System boosted its position in Independent Bank Group by 0.9% in the third quarter. California State Teachers Retirement System now owns 23,504 shares of the company’s stock worth $1,038,000 after buying an additional 200 shares during the period. BlackRock Group LTD boosted 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 during the period. WFG Advisors LP boosted its position in Independent Bank Group by 1.5% in the second quarter. WFG Advisors LP now owns 31,476 shares of the company’s stock worth $1,351,000 after buying an additional 465 shares during the period. Finally, First Trust Advisors LP boosted its position in 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. Institutional investors own 34.23% of the company’s stock.
IBTX has been the topic of several recent research reports. Zacks Investment Research cut Independent Bank Group from a “buy” rating to a “hold” rating in a research report on Wednesday, September 28th. Keefe, Bruyette & Woods increased their target price 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. Finally, Hovde Group increased their target price 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. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Independent Bank Group currently has an average rating of “Buy” and a consensus target price 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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