Independent Bank Group, Inc. (IBTX) To Go Ex-Dividend on August 5th

Independent Bank Group, Inc. (NASDAQ:IBTX) announced a quarterly dividend on Wednesday, July 24th, Zacks reports. Investors of record on Monday, August 5th will be paid a dividend of 0.38 per share by the bank on Monday, August 19th. This represents a $1.52 annualized dividend and a yield of 2.61%. The ex-dividend date of this dividend is Monday, August 5th.

Independent Bank Group has increased its dividend by an average of 13.1% per year over the last three years. Independent Bank Group has a payout ratio of 38.7% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Independent Bank Group to earn $4.00 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 38.0%.

Independent Bank Group Stock Performance

Shares of IBTX stock opened at $58.17 on Friday. Independent Bank Group has a one year low of $34.50 and a one year high of $58.35. The company has a market cap of $2.41 billion, a P/E ratio of 22.99 and a beta of 1.41. The firm has a 50-day moving average of $46.75 and a 200-day moving average of $45.27. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.97 and a quick ratio of 0.97.

Independent Bank Group (NASDAQ:IBTX) last posted its earnings results on Wednesday, July 24th. The bank reported $0.60 EPS for the quarter, topping the consensus estimate of $0.58 by $0.02. The firm had revenue of $252.52 million for the quarter, compared to analysts’ expectations of $120.25 million. Independent Bank Group had a negative net margin of 43.02% and a positive return on equity of 4.58%. During the same quarter last year, the firm earned $0.82 EPS. Equities research analysts forecast that Independent Bank Group will post 2.56 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

IBTX has been the topic of several research analyst reports. Stephens reissued an “overweight” rating and issued a $55.00 price objective on shares of Independent Bank Group in a research report on Tuesday, April 23rd. Keefe, Bruyette & Woods raised their price objective on shares of Independent Bank Group from $46.00 to $57.00 and gave the stock an “outperform” rating in a report on Tuesday, July 9th. StockNews.com initiated coverage on shares of Independent Bank Group in a research note on Thursday. They issued a “sell” rating on the stock. Truist Financial reduced their target price on shares of Independent Bank Group from $50.00 to $48.00 and set a “hold” rating for the company in a research report on Monday, July 8th. Finally, Piper Sandler raised shares of Independent Bank Group from an “underweight” rating to an “overweight” rating and lifted their price target for the stock from $38.00 to $58.00 in a report on Friday, May 31st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $53.83.

Independent Bank Group Company Profile

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.