Brian E. Hobart Sells 22,500 Shares of Independent Bank Group, Inc (IBTX) Stock

Independent Bank Group, Inc (NASDAQ:IBTX) Vice Chairman Brian E. Hobart sold 22,500 shares of the business’s stock in a transaction on Monday, October 16th. The stock was sold at an average price of $60.71, for a total value of $1,365,975.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

Shares of Independent Bank Group, Inc (NASDAQ:IBTX) traded down 1.80% during mid-day trading on Tuesday, hitting $59.85. The stock had a trading volume of 76,766 shares. The firm has a market cap of $1.66 billion, a P/E ratio of 19.99 and a beta of 1.28. The company has a 50 day moving average price of $58.15 and a 200 day moving average price of $59.14. Independent Bank Group, Inc has a 12-month low of $44.00 and a 12-month high of $66.85.

Independent Bank Group (NASDAQ:IBTX) last issued its quarterly earnings results on Monday, July 24th. The bank reported $0.82 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.82. Independent Bank Group had a return on equity of 8.43% and a net margin of 23.52%. The company had revenue of $80.50 million for the quarter, compared to analysts’ expectations of $81.31 million. During the same period last year, the firm earned $0.74 EPS. The firm’s revenue for the quarter was up 58.4% on a year-over-year basis. Equities analysts forecast that Independent Bank Group, Inc will post $3.30 earnings per share for the current fiscal year.

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A number of research firms have commented on IBTX. Stephens reiterated a “buy” rating and set a $71.00 target price on shares of Independent Bank Group in a research report on Tuesday, July 25th. BidaskClub downgraded Independent Bank Group from a “hold” rating to a “sell” rating in a research report on Saturday, June 24th. Piper Jaffray Companies reiterated a “buy” rating and set a $76.00 target price on shares of Independent Bank Group in a research report on Friday, September 1st. Hovde Group upgraded Independent Bank Group from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $68.00 to $69.00 in a research report on Wednesday, July 26th. Finally, Keefe, Bruyette & Woods upgraded Independent Bank Group from a “market perform” rating to an “outperform” rating and set a $71.00 target price on the stock in a research report on Wednesday, July 26th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and six have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $71.40.

Several institutional investors and hedge funds have recently added to or reduced their stakes in IBTX. Wells Fargo & Company MN boosted its stake in shares of Independent Bank Group by 18.5% during the 1st quarter. Wells Fargo & Company MN now owns 30,599 shares of the bank’s stock worth $1,968,000 after acquiring an additional 4,775 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Independent Bank Group by 7.8% during the 1st quarter. Bank of New York Mellon Corp now owns 83,005 shares of the bank’s stock worth $5,338,000 after acquiring an additional 5,974 shares in the last quarter. Swiss National Bank boosted its stake in shares of Independent Bank Group by 4.0% during the 1st quarter. Swiss National Bank now owns 18,252 shares of the bank’s stock worth $1,174,000 after acquiring an additional 700 shares in the last quarter. Karp Capital Management Corp bought a new stake in shares of Independent Bank Group during the 1st quarter worth $202,000. Finally, Parametric Portfolio Associates LLC boosted its stake in shares of Independent Bank Group by 228.7% during the 1st quarter. Parametric Portfolio Associates LLC now owns 35,963 shares of the bank’s stock worth $2,312,000 after acquiring an additional 25,021 shares in the last quarter. 46.50% of the stock is owned by institutional investors and hedge funds.

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)

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