Independent Bank Group Inc. (NASDAQ:IBTX) CEO David R. Brooks sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 22nd. The stock was sold at an average price of $55.00, for a total value of $550,000.00. Following the completion of the sale, the chief executive officer now directly owns 780,382 shares in the company, valued at $42,921,010. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

Shares of Independent Bank Group Inc. (NASDAQ:IBTX) traded up 6.69% during midday trading on Tuesday, reaching $58.20. 437,655 shares of the company’s stock were exchanged. The stock’s 50-day moving average is $47.89 and its 200 day moving average is $42.97. Independent Bank Group Inc. has a one year low of $25.50 and a one year high of $58.80. The firm has a market cap of $1.07 billion, a PE ratio of 21.79 and a beta of 1.18.

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. Analysts anticipate that Independent Bank Group Inc. will post $2.89 EPS for the current year.

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

The business also recently announced a quarterly dividend, which was paid on Friday, November 18th. Stockholders of record on Monday, November 7th were given a dividend of $0.10 per share. The ex-dividend date was 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 0.69%. Independent Bank Group’s dividend payout ratio (DPR) is 14.98%.

A number of analysts have recently commented on IBTX shares. Zacks Investment Research raised Independent Bank Group from a “hold” rating to a “buy” rating and set a $54.00 price objective on the stock in a research report on Thursday, October 27th. Hovde Group upped their price objective 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 objective 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. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Independent Bank Group currently 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. BlackRock Inc. raised its position in shares of 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 during the period. Citadel Advisors LLC acquired a new position in shares of Independent Bank Group during the second quarter valued at about $213,000. Parametric Portfolio Associates LLC acquired a new position in shares of Independent Bank Group during the second quarter valued at about $217,000. BlackRock Advisors LLC raised its position in shares of Independent Bank Group by 87.6% in the second quarter. BlackRock Advisors LLC now owns 5,318 shares of the company’s stock valued at $228,000 after buying an additional 2,484 shares during the last quarter. Finally, BlackRock Group LTD raised its position in shares of Independent Bank Group by 8.4% in the third quarter. BlackRock Group LTD now owns 5,483 shares of the company’s stock valued at $242,000 after buying an additional 423 shares during the last quarter. 33.83% of the stock is currently owned by institutional investors and hedge funds.

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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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