Independent Bank Group (NASDAQ:IBTX) Share Price Passes Below Two Hundred Day Moving Average of $72.97

Independent Bank Group, Inc. (NASDAQ:IBTXGet Rating)’s share price crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $72.97 and traded as low as $65.42. Independent Bank Group shares last traded at $65.90, with a volume of 150,111 shares traded.

A number of equities research analysts recently issued reports on the stock. Janney Montgomery Scott initiated coverage on shares of Independent Bank Group in a research report on Wednesday, March 9th. They set a “neutral” rating for the company. StockNews.com initiated coverage on shares of Independent Bank Group in a report on Thursday, March 31st. They set a “hold” rating on the stock.

The business’s fifty day simple moving average is $69.95 and its 200 day simple moving average is $72.97. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.19. The stock has a market cap of $2.79 billion, a P/E ratio of 13.18 and a beta of 1.61.

Independent Bank Group (NASDAQ:IBTXGet Rating) last issued its earnings results on Monday, April 25th. The bank reported $1.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.10. The company had revenue of $144.03 million for the quarter, compared to analyst estimates of $143.21 million. Independent Bank Group had a net margin of 33.81% and a return on equity of 8.54%. The company’s revenue for the quarter was down 2.9% on a year-over-year basis. During the same quarter last year, the firm earned $1.39 EPS. On average, analysts predict that Independent Bank Group, Inc. will post 5.23 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 19th. Stockholders of record on Thursday, May 5th were paid a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 2.31%. The ex-dividend date was Wednesday, May 4th. Independent Bank Group’s dividend payout ratio (DPR) is presently 30.40%.

In related news, EVP James C. White sold 5,371 shares of Independent Bank Group stock in a transaction that occurred on Friday, May 6th. The shares were sold at an average price of $70.06, for a total transaction of $376,292.26. Following the transaction, the executive vice president now owns 8,231 shares of the company’s stock, valued at approximately $576,663.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP James C. White sold 876 shares of Independent Bank Group stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 7,355 shares in the company, valued at approximately $534,782.05. The disclosure for this sale can be found here. Insiders sold a total of 8,858 shares of company stock worth $627,352 in the last ninety days. Insiders own 3.30% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in IBTX. CWM LLC bought a new position in Independent Bank Group during the 4th quarter worth approximately $28,000. Brown Brothers Harriman & Co. acquired a new stake in Independent Bank Group during the 1st quarter worth approximately $38,000. Strs Ohio acquired a new stake in Independent Bank Group during the 1st quarter worth approximately $64,000. Point72 Hong Kong Ltd raised its holdings in Independent Bank Group by 457.0% during the 4th quarter. Point72 Hong Kong Ltd now owns 1,593 shares of the bank’s stock worth $115,000 after buying an additional 1,307 shares during the period. Finally, Modera Wealth Management LLC acquired a new stake in Independent Bank Group during the 4th quarter worth approximately $200,000. 73.93% of the stock is currently 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 accepts various deposit products, including checking and savings accounts, demand deposits, money market accounts, and certificates of deposit.

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