Independent Bank Group Inc (NASDAQ:IBTX)’s stock price crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $0.00 and traded as low as $55.59. Independent Bank Group shares last traded at $56.02, with a volume of 592 shares traded.
Several analysts have weighed in on IBTX shares. ValuEngine raised XOMA from a “sell” rating to a “hold” rating in a report on Friday, May 24th. Zacks Investment Research cut Hancock Jaffe Laboratories from a “buy” rating to a “hold” rating in a report on Wednesday, June 26th. BidaskClub raised Zogenix from a “sell” rating to a “hold” rating in a report on Thursday, May 9th. Finally, Stephens set a $131.00 price objective on American Express and gave the stock a “buy” rating in a report on Monday, May 20th. Three research analysts have rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company. Independent Bank Group currently has an average rating of “Hold” and an average target price of $66.40.
The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.27. The company has a market capitalization of $2.44 billion, a P/E ratio of 12.64 and a beta of 1.43. The firm’s 50 day moving average price is $54.02.
Independent Bank Group (NASDAQ:IBTX) last announced its quarterly earnings results on Monday, April 22nd. The bank reported $1.19 EPS for the quarter, meeting analysts’ consensus estimates of $1.19. The company had revenue of $138.08 million during the quarter, compared to analysts’ expectations of $137.40 million. Independent Bank Group had a return on equity of 8.92% and a net margin of 26.04%. Analysts anticipate that Independent Bank Group Inc will post 5.21 earnings per share for the current fiscal year.
In related news, Director G Stacy Smith sold 135,000 shares of the stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of $52.90, for a total transaction of $7,141,500.00. Following the completion of the sale, the director now directly owns 91,022 shares of the company’s stock, valued at approximately $4,815,063.80. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Vice Chairman Brian E. Hobart bought 1,790 shares of the stock in a transaction that occurred on Thursday, April 25th. The shares were acquired at an average cost of $55.90 per share, with a total value of $100,061.00. Following the completion of the purchase, the insider now owns 132,375 shares in the company, valued at approximately $7,399,762.50. The disclosure for this purchase can be found here. Corporate insiders own 10.90% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Stephens Inc. AR increased its stake in Independent Bank Group by 4.6% during the 1st quarter. Stephens Inc. AR now owns 5,810 shares of the bank’s stock worth $298,000 after purchasing an additional 254 shares in the last quarter. Legal & General Group Plc increased its stake in Independent Bank Group by 4.9% during the 4th quarter. Legal & General Group Plc now owns 8,027 shares of the bank’s stock worth $367,000 after purchasing an additional 374 shares in the last quarter. Bank of America Corp DE increased its stake in Independent Bank Group by 0.5% during the 4th quarter. Bank of America Corp DE now owns 117,398 shares of the bank’s stock worth $5,372,000 after purchasing an additional 536 shares in the last quarter. Toronto Dominion Bank bought a new stake in Independent Bank Group during the 1st quarter worth approximately $32,000. Finally, PNC Financial Services Group Inc. bought a new stake in Independent Bank Group during the 4th quarter worth approximately $32,000. 61.14% of the stock is owned by institutional investors and hedge funds.
Independent Bank Group Company Profile (NASDAQ:IBTX)
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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