Independent Bank Group Inc. (IBTX) Sees Unusually-High Trading Volume
Independent Bank Group Inc. (NASDAQ:IBTX) saw unusually-strong trading volume on Thursday . Approximately 70,894 shares changed hands during mid-day trading, a decline of 8% from the previous session’s volume of 77,226 shares.The stock last traded at $42.21 and had previously closed at $42.32.
A number of equities research analysts recently weighed in on IBTX shares. Zacks Investment Research raised shares of Independent Bank Group from a “hold” rating to a “buy” rating and set a $48.00 target price on the stock in a research note on Thursday, June 30th. Evercore ISI raised shares of Independent Bank Group from a “hold” rating to a “buy” rating and set a $49.00 price target on the stock in a research note on Thursday, June 9th. TheStreet raised shares of Independent Bank Group from a “hold” rating to a “buy” rating in a research note on Tuesday, May 10th. Hovde Group lifted their price target on shares of Independent Bank Group from $31.00 to $38.00 and gave the stock a “market perform” rating in a research note on Wednesday, April 27th. Finally, Raymond James Financial Inc. assumed coverage on shares of Independent Bank Group in a research note on Thursday, July 7th. They set an “outperform” rating and a $44.00 price target on the stock. Five equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $42.25.
The company has a 50-day moving average of $40.89 and a 200 day moving average of $33.43. The stock has a market cap of $786.21 million and a P/E ratio of 18.24.
Independent Bank Group (NASDAQ:IBTX) last announced its quarterly earnings data on Monday, April 25th. The company reported $0.67 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.64 by $0.03. During the same period in the prior year, the company earned $0.63 EPS. On average, analysts anticipate that Independent Bank Group Inc. will post $2.85 EPS for the current year.
In related news, Director G Stacy Smith acquired 15,186 shares of the business’s stock in a transaction that occurred on Monday, June 27th. The stock was bought at an average cost of $38.89 per share, for a total transaction of $590,583.54. Following the purchase, the director now owns 119,670 shares in the company, valued at approximately $4,653,966.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Jack M. Radke acquired 4,000 shares of the business’s stock in a transaction that occurred on Friday, May 13th. The shares were bought at an average price of $33.86 per share, with a total value of $135,440.00. Following the completion of the purchase, the director now owns 7,027 shares in the company, valued at approximately $237,934.22. The disclosure for this purchase can be found here.
A hedge fund recently raised its stake in Independent Bank Group stock. Hodges Capital Management Inc. raised its stake in Independent Bank Group Inc. (NASDAQ:IBTX) by 8.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 787,140 shares of the company’s stock after buying an additional 58,002 shares during the period. Hodges Capital Management Inc. owned approximately 4.28% of Independent Bank Group worth $25,188,000 at the end of the most recent quarter.
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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