Vincent J. Viola Sells 57,449 Shares of Independent Bank Group, Inc (IBTX) Stock
Independent Bank Group, Inc (NASDAQ:IBTX) major shareholder Vincent J. Viola sold 57,449 shares of the stock in a transaction that occurred on Wednesday, February 15th. The shares were sold at an average price of $65.64, for a total value of $3,770,952.36. Following the transaction, the insider now owns 4,147,627 shares in the company, valued at approximately $272,250,236.28. The sale was disclosed in a document filed with the SEC, which is available through this link. Major shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.
Independent Bank Group, Inc (NASDAQ:IBTX) opened at 66.70 on Friday. The company has a 50-day moving average price of $62.93 and a 200 day moving average price of $52.73. Independent Bank Group, Inc has a 1-year low of $25.50 and a 1-year high of $66.85. The firm has a market capitalization of $1.26 billion, a P/E ratio of 23.16 and a beta of 1.30.
Independent Bank Group (NASDAQ:IBTX) last released its quarterly earnings results on Wednesday, January 25th. The company reported $0.83 EPS for the quarter, topping the consensus estimate of $0.80 by $0.03. The company had revenue of $51.72 million for the quarter, compared to analyst estimates of $51.97 million. Independent Bank Group had a return on equity of 8.93% and a net margin of 23.32%. The firm’s revenue was up 11.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.63 earnings per share. Analysts expect that Independent Bank Group, Inc will post $3.51 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Thursday, February 16th. Shareholders of record on Monday, February 6th were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.60%. The ex-dividend date was Thursday, February 2nd. Independent Bank Group’s dividend payout ratio (DPR) is 13.89%.
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A number of brokerages have recently issued reports on IBTX. Zacks Investment Research lowered Independent Bank Group from a “buy” rating to a “hold” rating in a research report on Tuesday, December 27th. Hovde Group increased their target price on Independent Bank Group from $50.00 to $61.00 and gave the company a “market perform” rating in a research report on Wednesday, November 23rd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $51.00.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. State Street Corp raised its position in Independent Bank Group by 66.3% in the fourth quarter. State Street Corp now owns 289,139 shares of the company’s stock valued at $18,045,000 after buying an additional 115,289 shares during the period. Dimensional Fund Advisors LP raised its position in Independent Bank Group by 37.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 342,807 shares of the company’s stock valued at $21,391,000 after buying an additional 93,002 shares during the period. Weatherbie Capital LLC raised its position in Independent Bank Group by 45.0% in the second quarter. Weatherbie Capital LLC now owns 245,309 shares of the company’s stock valued at $10,526,000 after buying an additional 76,164 shares during the period. Cortina Asset Management LLC purchased a new position in Independent Bank Group during the fourth quarter valued at approximately $4,337,000. Finally, Two Sigma Investments LP purchased a new position in Independent Bank Group during the fourth quarter valued at approximately $3,868,000. 33.73% of the stock is currently owned by institutional investors.
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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