Michael B. Hobbs Sells 2,611 Shares of Independent Bank Group, Inc. (NASDAQ:IBTX) Stock

Independent Bank Group, Inc. (NASDAQ:IBTXGet Rating) COO Michael B. Hobbs sold 2,611 shares of the company’s stock in a transaction on Wednesday, May 4th. The stock was sold at an average price of $71.76, for a total value of $187,365.36. Following the sale, the chief operating officer now owns 33,328 shares of the company’s stock, valued at $2,391,617.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Shares of NASDAQ:IBTX opened at $70.51 on Friday. The company has a fifty day moving average of $72.90 and a 200-day moving average of $73.66. The company has a market capitalization of $2.98 billion, a PE ratio of 14.10 and a beta of 1.61. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.94 and a current ratio of 0.94. Independent Bank Group, Inc. has a 52-week low of $62.82 and a 52-week high of $80.14.

Independent Bank Group (NASDAQ:IBTXGet Rating) last posted its quarterly earnings data on Monday, April 25th. The bank reported $1.22 earnings per share for the quarter, beating analysts’ consensus estimates of $1.14 by $0.08. The business had revenue of $144.03 million during the quarter, compared to the consensus estimate of $143.21 million. Independent Bank Group had a return on equity of 8.54% and a net margin of 33.81%. Independent Bank Group’s quarterly revenue was down 2.9% on a year-over-year basis. During the same period in the prior year, the business posted $1.39 earnings per share. On average, equities analysts forecast that Independent Bank Group, Inc. will post 5.14 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 19th. Investors of record on Thursday, May 5th will be issued a $0.38 dividend. The ex-dividend date is Wednesday, May 4th. This represents a $1.52 dividend on an annualized basis and a yield of 2.16%. Independent Bank Group’s payout ratio is 30.40%.

Several research analysts have recently issued reports on IBTX shares. Truist Financial upped their price target on shares of Independent Bank Group from $80.00 to $85.00 and gave the stock a “buy” rating in a report on Wednesday, January 26th. Janney Montgomery Scott started coverage on shares of Independent Bank Group in a report on Wednesday, March 9th. They set a “neutral” rating for the company. Zacks Investment Research upgraded shares of Independent Bank Group from a “hold” rating to a “buy” rating and set a $87.00 price target for the company in a report on Wednesday, January 12th. Finally, StockNews.com started coverage on shares of Independent Bank Group in a report on Thursday, March 31st. They set a “hold” rating for the company.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. US Bancorp DE increased its holdings in Independent Bank Group by 1.5% in the third quarter. US Bancorp DE now owns 9,696 shares of the bank’s stock valued at $689,000 after purchasing an additional 140 shares during the period. Profund Advisors LLC increased its holdings in Independent Bank Group by 3.9% in the fourth quarter. Profund Advisors LLC now owns 4,149 shares of the bank’s stock valued at $299,000 after purchasing an additional 156 shares during the period. Public Employees Retirement System of Ohio increased its holdings in Independent Bank Group by 43.1% in the fourth quarter. Public Employees Retirement System of Ohio now owns 700 shares of the bank’s stock valued at $51,000 after purchasing an additional 211 shares during the period. Mutual of America Capital Management LLC boosted its position in Independent Bank Group by 5.0% during the first quarter. Mutual of America Capital Management LLC now owns 5,299 shares of the bank’s stock valued at $377,000 after acquiring an additional 254 shares during the last quarter. Finally, Swiss National Bank boosted its position in Independent Bank Group by 0.4% during the third quarter. Swiss National Bank now owns 81,122 shares of the bank’s stock valued at $5,763,000 after acquiring an additional 300 shares during the last quarter. Institutional investors and hedge funds own 73.93% of the company’s stock.

Independent Bank Group Company Profile (Get Rating)

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 accepts various deposit products, including checking and savings accounts, demand deposits, money market accounts, and certificates of deposit.

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