Checking in on Independent Bank Group Inc. (IBTX) after recent insiders movement


Independent Bank Group Inc.’s recent filing unveils that its EVP, Chief Financial Officer Langdale Paul B acquired Company’s shares for reported $14920.0 on May 11. In the deal valued at $29.84 per share,500 shares were bought. As a result of this transaction, Langdale Paul B now holds 10,220 shares worth roughly $ 0.43 million.

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Then, Hobbs Michael B bought 2,400 shares, generating $75,192 in total proceeds. Upon buying the shares at $31.33, the EVP, President and COO now owns 38,092 shares.

Before that, Montgomery Brenda K bought 650 shares. Independent Bank Group Inc. shares valued at $20,312 were divested by the EVP, Chief Accounting Officer at a price of $31.25 per share. As a result of the transaction, Montgomery Brenda K now holds 8,070 shares, worth roughly $0.34 million.

Piper Sandler downgraded its Independent Bank Group Inc. [IBTX] rating to a Neutral from a an Overweight in a research note published on Friday, July 26, 2023; the price target was increased to $44 from $40. PT values the company’s stock at a premium of 4.18 to its Friday closing price.

Price Performance Review of IBTX

On Friday, Independent Bank Group Inc. [NASDAQ:IBTX] saw its stock fall -0.09% to $42.16. On the same session, the stock had its day’s lowest price of $42.05, but rose to a high of $43.27. Over the last five days, the stock has gained 2.45%. Independent Bank Group Inc. shares have fallen nearly -29.83% since the year began. Nevertheless, the stocks have fallen -37.41% over the past one year. While a 52-week high of $70.97 was reached on 02/02/23, a 52-week low of $28.81 was recorded on 05/04/23. SMA at 50 days reached $40.65, while 200 days put it at $48.25. A total of 0.31 million shares were traded, compared to the trading of 0.21 million shares in the previous session.

Levels Of Support And Resistance For IBTX Stock

The 24-hour chart illustrates a support level at 41.72, which if violated will result in even more drops to 41.27. On the upside, there is a resistance level at 42.94. A further resistance level may holdings at 43.71. The Relative Strength Index (RSI) on the 14-day chart is 51.67, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.35, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 51.21%. Stochastics %K at 48.79% indicates the stock is a holding.

How much short interest is there in Independent Bank Group Inc.?

A steep rise in short interest was recorded in Independent Bank Group Inc. stocks on Aug 14, 2023, growing by 0.12 million shares to a total of 1.19 million shares. Yahoo Finance data shows the prior-month short interest on Jul 13, 2023 was 1.07 million shares. There was a rise of 10.08%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 4.00% of the overall stock float, the days-to-cover ratio (short ratio) rose to 4.58.

According to FactSet, Independent Bank Group Inc.’s share price will average $47.33 in the next year, based on opinions of analysts polled by the firm. This is up nearly 10.19 percent from its previous closing price of $42.20. Analysts expect Independent Bank Group Inc. stock to reach the higher price of $51.00, while the lowest price estimate is $44.00. However, 7 analysts have rated IBTX stock as an Overweight in their predictions for 2023.


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