Independent Bank Group Inc. (IBTX) Director G Stacy Smith Sells 5,000 Shares
Independent Bank Group Inc. (NASDAQ:IBTX) Director G Stacy Smith sold 5,000 shares of the stock in a transaction on Wednesday, November 23rd. The stock was sold at an average price of $59.70, for a total value of $298,500.00. Following the transaction, the director now directly owns 119,670 shares in the company, valued at approximately $7,144,299. The transaction was disclosed in a filing with the SEC, which is available at this link.
Shares of Independent Bank Group Inc. (NASDAQ:IBTX) traded down 0.58% during midday trading on Monday, reaching $59.85. The company had a trading volume of 140,192 shares. Independent Bank Group Inc. has a 52 week low of $25.50 and a 52 week high of $60.45. The company has a market capitalization of $1.11 billion, a P/E ratio of 22.41 and a beta of 1.18. The company’s 50 day moving average price is $49.80 and its 200-day moving average price is $43.75.
Independent Bank Group (NASDAQ:IBTX) last posted its earnings results on Monday, October 24th. The company reported $0.78 EPS for the quarter, beating the Zacks’ consensus estimate 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 prior year, the company earned $0.47 EPS. On average, equities research analysts predict that Independent Bank Group Inc. will post $2.95 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, November 18th. Shareholders of record on Monday, November 7th were given a $0.10 dividend. The ex-dividend date of this dividend was Thursday, November 3rd. This represents a $0.40 dividend on an annualized basis and a yield of 0.67%. This is an increase from Independent Bank Group’s previous quarterly dividend of $0.08. Independent Bank Group’s payout ratio is currently 14.98%.
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A number of large investors have recently bought and sold shares of IBTX. Rhumbline Advisers increased its stake 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 in the last quarter. California State Teachers Retirement System increased its stake 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 in the last quarter. BlackRock Group LTD increased its stake 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. WFG Advisors LP increased its stake 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 in the last quarter. Finally, First Trust Advisors LP increased its stake 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 in the last quarter. Institutional investors own 35.39% of the company’s stock.
A number of equities analysts have recently issued reports on the company. Hovde Group increased their price target on Independent Bank Group from $50.00 to $61.00 and gave the stock a “market perform” rating in a research report on Wednesday, November 23rd. Zacks Investment Research raised Independent Bank Group from a “hold” rating to a “buy” rating and set a $54.00 price target on the stock in a research report on Thursday, October 27th. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $46.57.
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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