Shares of Independent Bank Group Inc. (NASDAQ:IBTX) gapped up before the market opened on Thursday . The stock had previously closed at $39.54, but opened at $39.66. Independent Bank Group shares last traded at $39.81, with a volume of 26,525 shares.

A number of analysts recently weighed in on the stock. Zacks Investment Research cut shares of Independent Bank Group from a “hold” rating to a “sell” rating in a report on Monday, May 2nd. TheStreet raised shares of Independent Bank Group from a “hold” rating to a “buy” rating in a report on Tuesday, May 10th. Stephens raised shares of Independent Bank Group from an “equal weight” rating to an “overweight” rating in a report on Tuesday, April 26th. Raymond James Financial Inc. assumed coverage on shares of Independent Bank Group in a report on Thursday. They issued an “outperform” rating and a $44.00 price objective on the stock. Finally, Hovde Group increased their price objective on shares of Independent Bank Group from $31.00 to $38.00 and gave the stock a “market perform” rating in a report on Wednesday, April 27th. Five equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $42.25.

The stock’s 50-day moving average price is $39.67 and its 200 day moving average price is $32.73. The company has a market capitalization of $767.75 million and a PE ratio of 17.81.

Independent Bank Group (NASDAQ:IBTX) last posted its quarterly earnings results on Monday, April 25th. The company reported $0.67 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.64 by $0.03. During the same quarter last year, the company posted $0.63 EPS. Equities research analysts forecast that Independent Bank Group Inc. will post $2.85 earnings per share for the current fiscal year.

In other Independent Bank Group news, Director G Stacy Smith purchased 15,186 shares of the firm’s stock in a transaction on Monday, June 27th. The shares were purchased at an average price of $38.89 per share, for a total transaction of $590,583.54. Following the completion of the purchase, the director now directly owns 119,670 shares of the company’s stock, valued at $4,653,966.30. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Jack M. Radke purchased 4,000 shares of the firm’s stock in a transaction on Friday, May 13th. The shares were acquired at an average price of $33.86 per share, for a total transaction of $135,440.00. Following the purchase, the director now directly owns 7,027 shares of the company’s stock, valued at $237,934.22. The disclosure for this purchase can be found here.

An institutional investor recently raised its position in Independent Bank Group stock. Dimensional Fund Advisors LP raised its position in Independent Bank Group Inc. (NASDAQ:IBTX) by 50.6% during the fourth quarter, Holdings Channel reports. The institutional investor owned 142,721 shares of the company’s stock after buying an additional 47,937 shares during the period. Dimensional Fund Advisors LP owned approximately 0.78% of Independent Bank Group worth $4,567,000 at the end of the most recent reporting period.

Independent Bank Group, Inc is a bank holding company. Through the Company’s subsidiary, Independent Bank (the Bank), it provides a range of commercial banking products and services tailored to meet the needs of businesses, professionals and individuals. Its commercial lending products include owner-occupied commercial real estate loans, interim construction loans, commercial loans to a mix of small and midsized businesses, and loans to professionals, particularly medical practices.

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