Shares of Independent Bank Group Inc (NASDAQ:IBTX) passed 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.
A number of analysts recently commented on IBTX shares. BidaskClub raised shares of Zogenix from a “sell” rating to a “hold” rating in a report on Thursday, May 9th. Zacks Investment Research cut shares of Hancock Jaffe Laboratories from a “buy” rating to a “hold” rating in a research report on Wednesday, June 26th. ValuEngine upgraded shares of XOMA from a “sell” rating to a “hold” rating in a research report on Friday, May 24th. Finally, Stephens set a $131.00 target price on shares of American Express and gave the stock a “buy” rating in a research report on Monday, May 20th. Three research analysts have rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $66.40.
The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.27. The firm has a market cap of $2.46 billion, a P/E ratio of 12.20 and a beta of 1.43. The business has a 50-day moving average price of $54.02.
Independent Bank Group (NASDAQ:IBTX) last announced its earnings results on Monday, April 22nd. The bank reported $1.19 earnings per share (EPS) for the quarter, hitting 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 net margin of 26.04% and a return on equity of 8.92%. As a group, equities research analysts expect that Independent Bank Group Inc will post 5.21 earnings per share for the current fiscal year.
In other news, Director G Stacy Smith sold 135,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $52.90, for a total value of $7,141,500.00. Following the completion of the transaction, the director now owns 91,022 shares of the company’s stock, valued at $4,815,063.80. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Paul W. Taylor sold 5,300 shares of the business’s stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $56.79, for a total transaction of $300,987.00. Following the completion of the transaction, the director now directly owns 30,929 shares of the company’s stock, valued at approximately $1,756,457.91. The disclosure for this sale can be found here. Insiders own 10.90% of the company’s stock.
Several large investors have recently bought and sold shares of the company. Stephens Inc. AR raised its position in shares of Independent Bank Group by 4.6% in the first quarter. Stephens Inc. AR now owns 5,810 shares of the bank’s stock valued at $298,000 after buying an additional 254 shares during the last quarter. Legal & General Group Plc raised its position in shares of Independent Bank Group by 4.9% in the fourth quarter. Legal & General Group Plc now owns 8,027 shares of the bank’s stock valued at $367,000 after buying an additional 374 shares during the last quarter. Bank of America Corp DE raised its position in shares of Independent Bank Group by 0.5% in the fourth quarter. Bank of America Corp DE now owns 117,398 shares of the bank’s stock valued at $5,372,000 after buying an additional 536 shares during the last quarter. Toronto Dominion Bank acquired a new position in shares of Independent Bank Group in the first quarter valued at approximately $32,000. Finally, PNC Financial Services Group Inc. acquired a new position in shares of Independent Bank Group in the fourth quarter valued at approximately $32,000. 61.14% of the stock is owned by institutional investors and hedge funds.
About Independent Bank Group (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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