Brian E. Hobart Sells 7,500 Shares of Independent Bank Group, Inc (IBTX) Stock

Independent Bank Group, Inc (NASDAQ:IBTX) Vice Chairman Brian E. Hobart sold 7,500 shares of Independent Bank Group stock in a transaction dated Thursday, October 26th. The stock was sold at an average price of $65.00, for a total value of $487,500.00. Following the transaction, the insider now directly owns 111,022 shares in the company, valued at $7,216,430. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

Independent Bank Group, Inc (NASDAQ IBTX) opened at 62.90 on Wednesday. The firm has a market capitalization of $1.75 billion, a P/E ratio of 21.01 and a beta of 1.29. Independent Bank Group, Inc has a one year low of $44.45 and a one year high of $66.85. The firm’s 50-day moving average price is $60.37 and its 200 day moving average price is $59.22.

Independent Bank Group (NASDAQ:IBTX) last announced its quarterly earnings data on Monday, October 23rd. The bank reported $0.89 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.88 by $0.01. Independent Bank Group had a return on equity of 8.11% and a net margin of 23.46%. The firm had revenue of $84.99 million for the quarter, compared to analysts’ expectations of $83.00 million. During the same period last year, the firm earned $0.78 earnings per share. On average, equities analysts anticipate that Independent Bank Group, Inc will post $3.29 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 16th. Stockholders of record on Monday, November 6th will be paid a dividend of $0.10 per share. The ex-dividend date is Friday, November 3rd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.64%. Independent Bank Group’s dividend payout ratio (DPR) is currently 12.90%.

ILLEGAL ACTIVITY NOTICE: This news story was originally published by Community Financial News and is the property of of Community Financial News. If you are reading this news story on another site, it was illegally copied and republished in violation of United States and international copyright legislation. The correct version of this news story can be viewed at https://www.com-unik.info/2017/11/01/brian-e-hobart-sells-7500-shares-of-independent-bank-group-inc-ibtx-stock.html.

Several large investors have recently made changes to their positions in IBTX. Stone Point Capital LLC bought a new position in shares of Independent Bank Group during the second quarter valued at about $104,909,000. HarbourVest Partners LLC bought a new position in shares of Independent Bank Group during the second quarter valued at about $44,821,000. Castle Creek Capital Partners IV LP bought a new position in shares of Independent Bank Group during the second quarter valued at about $20,381,000. Frontier Investment Mgmt Co. grew its stake in shares of Independent Bank Group by 193.8% during the second quarter. Frontier Investment Mgmt Co. now owns 228,403 shares of the bank’s stock valued at $13,590,000 after buying an additional 150,660 shares during the last quarter. Finally, Summit Creek Advisors LLC bought a new position in shares of Independent Bank Group during the second quarter valued at about $6,781,000. 46.62% of the stock is currently owned by hedge funds and other institutional investors.

Several research analysts have commented on IBTX shares. Piper Jaffray Companies reaffirmed a “buy” rating and set a $76.00 target price on shares of Independent Bank Group in a report on Friday, September 1st. BidaskClub downgraded Independent Bank Group from a “hold” rating to a “sell” rating in a report on Wednesday, July 19th. Hovde Group raised Independent Bank Group from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $68.00 to $69.00 in a report on Wednesday, July 26th. Stephens reaffirmed a “buy” rating and set a $71.00 target price on shares of Independent Bank Group in a report on Tuesday, July 25th. Finally, Zacks Investment Research raised Independent Bank Group from a “sell” rating to a “hold” rating in a report on Friday, October 6th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $71.40.

About Independent Bank Group

Independent Bank Group, Inc is a bank holding company. Through the Company’s subsidiary, Independent Bank (the Bank), the Company provides a range of commercial banking products and services tailored to meet the needs of businesses, professionals and individuals. As of December 31, 2016, the Company operated 41 banking offices in the Dallas/North Texas area, the Austin/Central Texas area, and the Houston metropolitan area.

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

What are top analysts saying about Independent Bank Group Inc? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Independent Bank Group Inc and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit