Strs Ohio purchased a new stake in Independent Bank Group, Inc. (NASDAQ:IBTX – Get Rating) in the first quarter, Holdings Channel.com reports. The institutional investor purchased 900 shares of the bank’s stock, valued at approximately $64,000.
Several other hedge funds have also bought and sold shares of the stock. CWM LLC purchased a new position in shares of Independent Bank Group during the 4th quarter valued at approximately $28,000. Point72 Hong Kong Ltd increased its holdings in Independent Bank Group by 457.0% in the fourth quarter. Point72 Hong Kong Ltd now owns 1,593 shares of the bank’s stock valued at $115,000 after buying an additional 1,307 shares in the last quarter. Modera Wealth Management LLC purchased a new position in Independent Bank Group in the fourth quarter valued at $200,000. Pictet Asset Management SA acquired a new position in shares of Independent Bank Group in the fourth quarter worth about $202,000. Finally, Prudent Man Advisors LLC purchased a new stake in shares of Independent Bank Group during the 4th quarter worth about $217,000. Hedge funds and other institutional investors own 73.93% of the company’s stock.
Wall Street Analysts Forecast Growth
IBTX has been the subject of a number of analyst reports. StockNews.com assumed coverage on Independent Bank Group in a report on Thursday, March 31st. They issued a “hold” rating for the company. Piper Sandler reduced their target price on Independent Bank Group to $76.00 in a research note on Monday, July 4th. Finally, Truist Financial dropped their price target on shares of Independent Bank Group from $85.00 to $76.00 and set a “buy” rating on the stock in a research note on Wednesday, July 6th.
Independent Bank Group Trading Up 0.9 %
Independent Bank Group (NASDAQ:IBTX – Get Rating) last released its earnings results on Monday, April 25th. The bank reported $1.22 earnings per share for the quarter, beating the consensus estimate of $1.12 by $0.10. Independent Bank Group had a return on equity of 8.54% and a net margin of 33.81%. The business had revenue of $144.03 million for the quarter, compared to the consensus estimate of $143.21 million. During the same quarter last year, the business posted $1.39 earnings per share. The business’s quarterly revenue was down 2.9% compared to the same quarter last year. On average, sell-side analysts predict that Independent Bank Group, Inc. will post 5.27 EPS for the current fiscal year.
Independent Bank Group Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, May 19th. Stockholders of record on Thursday, May 5th were issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.16%. The ex-dividend date of this dividend was Wednesday, May 4th. Independent Bank Group’s payout ratio is 30.40%.
In related news, COO Michael B. Hobbs sold 2,611 shares of the business’s stock in a transaction dated Wednesday, May 4th. The shares were sold at an average price of $71.76, for a total transaction of $187,365.36. Following the transaction, the chief operating officer now directly owns 33,328 shares in the company, valued at $2,391,617.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, COO Michael B. Hobbs sold 2,611 shares of the stock in a transaction on Wednesday, May 4th. The shares were sold at an average price of $71.76, for a total value of $187,365.36. Following the transaction, the chief operating officer now directly owns 33,328 shares of the company’s stock, valued at approximately $2,391,617.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP James C. White sold 876 shares of Independent Bank Group stock in a transaction on Friday, June 3rd. The stock was sold at an average price of $72.71, for a total transaction of $63,693.96. Following the sale, the executive vice president now owns 7,355 shares in the company, valued at $534,782.05. The disclosure for this sale can be found here. Insiders sold 8,858 shares of company stock worth $627,352 over the last three months. Insiders own 3.30% 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 accepts various deposit products, including checking and savings accounts, demand deposits, money market accounts, and certificates of deposit.
- Get a free copy of the StockNews.com research report on Independent Bank Group (IBTX)
- Exxon Mobil Leads The Oil Sector: Have Both Peaked?
- Get These 3 Juicy Dividend Yields While They Last
- These 3 Mega Caps are Bear Market Buys
- How Low Can DocuSign Stock Go?
- The Top-Rated Consumer Defensive Stocks With Yield Above 3.5%
Receive News & Ratings for Independent Bank Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Independent Bank Group and related companies with MarketBeat.com's FREE daily email newsletter.