Independent Bank Group Inc (NASDAQ:IBTX) Director John Webb Jennings III Buys 2,200 Shares

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Independent Bank Group Inc (NASDAQ:IBTX) Director John Webb Jennings III bought 2,200 shares of Independent Bank Group stock in a transaction that occurred on Tuesday, February 11th. The stock was bought at an average price of $54.93 per share, with a total value of $120,846.00. Following the purchase, the director now owns 44,990 shares of the company’s stock, valued at approximately $2,471,300.70. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Shares of IBTX opened at $55.66 on Friday. The stock has a market cap of $2.37 billion, a price-to-earnings ratio of 12.45 and a beta of 1.36. The company has a quick ratio of 1.03, a current ratio of 1.04 and a debt-to-equity ratio of 0.36. Independent Bank Group Inc has a 12 month low of $47.58 and a 12 month high of $63.16. The company has a 50-day moving average price of $54.45 and a two-hundred day moving average price of $54.00.

Independent Bank Group (NASDAQ:IBTX) last announced its quarterly earnings results on Monday, January 27th. The bank reported $1.32 EPS for the quarter, topping analysts’ consensus estimates of $1.29 by $0.03. The firm had revenue of $146.30 million during the quarter, compared to analysts’ expectations of $141.55 million. Independent Bank Group had a net margin of 26.36% and a return on equity of 9.71%. Equities research analysts expect that Independent Bank Group Inc will post 5.31 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 20th. Shareholders of record on Monday, February 10th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.80%. The ex-dividend date of this dividend is Friday, February 7th. Independent Bank Group’s dividend payout ratio is 19.69%.

Several equities research analysts recently weighed in on the stock. Stephens upgraded shares of Independent Bank Group from an “equal weight” rating to an “overweight” rating and reduced their target price for the company from $67.00 to $61.00 in a research note on Wednesday, January 29th. 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 note on Wednesday. Hovde Group cut shares of Independent Bank Group from an “outperform” rating to a “hold” rating in a research note on Wednesday, December 11th. Raymond James cut shares of Independent Bank Group from an “outperform” rating to a “market perform” rating in a research note on Tuesday, December 10th. Finally, BidaskClub cut shares of Independent Bank Group from a “sell” rating to a “strong sell” rating in a research note on Friday, January 17th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $61.33.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. BB&T Securities LLC lifted its stake in Independent Bank Group by 6.6% during the third quarter. BB&T Securities LLC now owns 6,025 shares of the bank’s stock worth $322,000 after purchasing an additional 373 shares during the period. Amalgamated Bank lifted its stake in Independent Bank Group by 6.9% during the fourth quarter. Amalgamated Bank now owns 5,946 shares of the bank’s stock worth $330,000 after purchasing an additional 386 shares during the period. TD Asset Management Inc. lifted its stake in Independent Bank Group by 2.0% during the fourth quarter. TD Asset Management Inc. now owns 35,857 shares of the bank’s stock worth $1,988,000 after purchasing an additional 700 shares during the period. Aigen Investment Management LP bought a new position in Independent Bank Group during the fourth quarter worth about $44,000. Finally, NumerixS Investment Technologies Inc bought a new position in Independent Bank Group during the fourth quarter worth about $50,000. Hedge funds and other 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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