Insider Buying: Independent Bank Group Inc (NASDAQ:IBTX) Director Acquires 2,200 Shares of Stock

Independent Bank Group Inc (NASDAQ:IBTX) Director John Webb Jennings III bought 2,200 shares of the business’s stock in a transaction on Tuesday, February 11th. The stock was bought at an average price of $54.93 per share, for a total transaction of $120,846.00. Following the purchase, the director now directly owns 44,990 shares of the company’s stock, valued at $2,471,300.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Independent Bank Group stock opened at $55.22 on Friday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.03 and a current ratio of 1.04. The stock has a market cap of $2.37 billion, a PE ratio of 12.35 and a beta of 1.36. The stock has a 50-day moving average of $54.46 and a two-hundred day moving average of $54.00. Independent Bank Group Inc has a one year low of $47.58 and a one year high of $63.16.

Independent Bank Group (NASDAQ:IBTX) last issued its quarterly earnings results on Monday, January 27th. The bank reported $1.32 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.29 by $0.03. Independent Bank Group had a return on equity of 9.71% and a net margin of 26.36%. The business had revenue of $146.30 million for the quarter, compared to analyst estimates of $141.55 million. As a group, sell-side analysts predict that Independent Bank Group Inc will post 5.31 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 20th. Investors of record on Monday, February 10th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.81%. The ex-dividend date of this dividend is Friday, February 7th. Independent Bank Group’s payout ratio is currently 19.69%.

IBTX has been the subject of a number of analyst reports. Zacks Investment Research cut shares of Independent Bank Group from a “strong-buy” rating to a “hold” rating and set a $63.00 target price for the company. in a research report on Wednesday. Hovde Group downgraded shares of Independent Bank Group from an “outperform” rating to a “hold” rating in a research note on Wednesday, December 11th. ValuEngine raised shares of Independent Bank Group from a “sell” rating to a “hold” rating in a report on Sunday, February 9th. Stephens raised Independent Bank Group from an “equal weight” rating to an “overweight” rating and reduced their price target for the stock from $67.00 to $61.00 in a research report on Wednesday, January 29th. Finally, BidaskClub lowered Independent Bank Group from a “sell” rating to a “strong sell” rating in a report on Friday, January 17th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $61.33.

A number of hedge funds have recently added to or reduced their stakes in the stock. Oxford Asset Management LLP acquired a new position in Independent Bank Group during the 4th quarter valued at approximately $1,444,000. Amalgamated Bank raised its holdings in shares of Independent Bank Group by 6.9% in the fourth quarter. Amalgamated Bank now owns 5,946 shares of the bank’s stock worth $330,000 after buying an additional 386 shares during the last quarter. Texas Capital Bank Wealth Management Services Inc. purchased a new position in shares of Independent Bank Group in the fourth quarter worth $1,003,000. Jefferies Group LLC acquired a new stake in shares of Independent Bank Group during the fourth quarter worth $446,000. Finally, Stifel Financial Corp lifted its stake in shares of Independent Bank Group by 165.0% during the fourth quarter. Stifel Financial Corp now owns 57,041 shares of the bank’s stock worth $3,164,000 after buying an additional 35,517 shares during the period. Institutional investors own 64.54% of the company’s stock.

Independent Bank Group Company Profile

Independent Bank Group, Inc operates as the bank holding company for Independent Bank that provides various commercial banking products and services to businesses, professionals, and individuals in the United States. It offers various deposit products, including demand deposits, money market accounts, and certificates of deposit.

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

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