Independent Bank Group, Inc. (IBTX) to Issue Quarterly Dividend of $0.38 on February 15th

Independent Bank Group, Inc. (NASDAQ:IBTXGet Free Report) declared a quarterly dividend on Thursday, January 18th, investing.com reports. Investors of record on Thursday, February 1st will be paid a dividend of 0.38 per share by the bank on Thursday, February 15th. This represents a $1.52 annualized dividend and a dividend yield of 2.96%. The ex-dividend date of this dividend is Wednesday, January 31st.

Independent Bank Group has raised its dividend by an average of 13.1% per year over the last three years. Independent Bank Group has a dividend payout ratio of 34.9% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Independent Bank Group to earn $4.60 per share next year, which means the company should continue to be able to cover its $1.52 annual dividend with an expected future payout ratio of 33.0%.

Independent Bank Group Stock Up 1.7 %

Independent Bank Group stock opened at $51.37 on Monday. Independent Bank Group has a twelve month low of $28.81 and a twelve month high of $65.22. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.28. The company has a 50 day moving average of $46.96 and a 200-day moving average of $42.42. The stock has a market capitalization of $2.12 billion, a PE ratio of 49.39 and a beta of 1.39.

Independent Bank Group (NASDAQ:IBTXGet Free Report) last announced its earnings results on Tuesday, January 23rd. The bank reported $0.62 earnings per share for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.04). The company had revenue of $116.92 million during the quarter, compared to analyst estimates of $123.83 million. Independent Bank Group had a return on equity of 5.76% and a net margin of 4.68%. Independent Bank Group’s revenue for the quarter was down 23.6% on a year-over-year basis. During the same period in the previous year, the company posted $1.20 earnings per share. On average, equities research analysts anticipate that Independent Bank Group will post 2.98 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts recently commented on IBTX shares. StockNews.com raised Independent Bank Group to a “sell” rating in a research report on Thursday. Keefe, Bruyette & Woods boosted their target price on shares of Independent Bank Group from $53.00 to $55.00 and gave the stock an “outperform” rating in a report on Wednesday, January 24th. Stephens reiterated an “overweight” rating and issued a $61.00 price target on shares of Independent Bank Group in a research note on Tuesday, January 23rd. Truist Financial lifted their price objective on shares of Independent Bank Group from $42.00 to $56.00 and gave the company a “buy” rating in a research report on Friday, December 15th. Finally, Raymond James raised their target price on shares of Independent Bank Group from $56.00 to $59.00 and gave the company an “outperform” rating in a research note on Wednesday, January 24th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $55.00.

Check Out Our Latest Analysis on IBTX

Institutional Trading of Independent Bank Group

Several hedge funds have recently added to or reduced their stakes in the company. Capital Research Global Investors grew its position in shares of Independent Bank Group by 23.4% during the 1st quarter. Capital Research Global Investors now owns 3,042,982 shares of the bank’s stock worth $216,539,000 after purchasing an additional 576,836 shares in the last quarter. Norges Bank acquired a new stake in Independent Bank Group during the fourth quarter worth approximately $21,711,000. State Street Corp increased its stake in Independent Bank Group by 18.5% during the 2nd quarter. State Street Corp now owns 2,002,249 shares of the bank’s stock worth $69,138,000 after acquiring an additional 313,039 shares during the period. Goldman Sachs Group Inc. raised its holdings in Independent Bank Group by 123.4% in the 2nd quarter. Goldman Sachs Group Inc. now owns 313,406 shares of the bank’s stock valued at $21,283,000 after acquiring an additional 173,117 shares in the last quarter. Finally, Thrivent Financial for Lutherans lifted its position in shares of Independent Bank Group by 285.0% during the 2nd quarter. Thrivent Financial for Lutherans now owns 115,231 shares of the bank’s stock valued at $7,826,000 after acquiring an additional 85,297 shares during the period. 74.74% of the stock is owned by institutional investors and hedge funds.

Independent Bank Group Company Profile

(Get Free Report)

Independent Bank Group, Inc, through its subsidiary, Independent Bank 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.

See Also

Dividend History for Independent Bank Group (NASDAQ:IBTX)

Receive News & Ratings for Independent Bank Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Independent Bank Group and related companies with MarketBeat.com's FREE daily email newsletter.