Independent Bank Group Inc (NASDAQ:IBTX) Plans $0.25 Quarterly Dividend

Independent Bank Group Inc (NASDAQ:IBTX) declared a quarterly dividend on Wednesday, July 29th, Zacks reports. Investors of record on Monday, August 10th will be paid a dividend of 0.25 per share by the bank on Thursday, August 20th. This represents a $1.00 dividend on an annualized basis and a yield of 2.30%. The ex-dividend date is Friday, August 7th.

Independent Bank Group has raised its dividend payment by an average of 194.1% per year over the last three years and has increased its dividend annually for the last 6 consecutive years. Independent Bank Group has a dividend payout ratio of 27.2% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Independent Bank Group to earn $3.64 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 27.5%.

NASDAQ IBTX traded down $1.64 during mid-day trading on Friday, reaching $43.45. The stock had a trading volume of 6,251 shares, compared to its average volume of 356,900. Independent Bank Group has a 1 year low of $20.35 and a 1 year high of $63.16. The stock has a market cap of $1.88 billion, a PE ratio of 9.93 and a beta of 1.97. The company has a fifty day moving average price of $40.25 and a 200 day moving average price of $38.95. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.07 and a quick ratio of 1.07.

Independent Bank Group (NASDAQ:IBTX) last announced its quarterly earnings data on Tuesday, July 28th. The bank reported $1.14 earnings per share for the quarter, topping analysts’ consensus estimates of $0.89 by $0.25. Independent Bank Group had a net margin of 26.11% and a return on equity of 8.76%. The company had revenue of $153.75 million during the quarter, compared to analyst estimates of $141.77 million. During the same period in the previous year, the business earned $1.22 EPS. As a group, equities research analysts expect that Independent Bank Group will post 3.96 earnings per share for the current year.

A number of equities research analysts have commented on the stock. ValuEngine raised shares of Independent Bank Group from a “sell” rating to a “hold” rating in a research report on Tuesday, July 7th. Piper Sandler cut their target price on shares of Independent Bank Group from $46.00 to $40.00 and set an “overweight” rating for the company in a research report on Wednesday, April 29th. Raymond James raised shares of Independent Bank Group from a “market perform” rating to an “outperform” rating and set a $41.00 target price for the company in a research report on Tuesday, May 26th. SunTrust Banks lifted their target price on shares of Independent Bank Group from $29.00 to $35.00 and gave the stock a “hold” rating in a research report on Tuesday, May 19th. Finally, Hovde Group raised shares of Independent Bank Group from a “market perform” rating to an “outperform” rating and cut their target price for the stock from $59.00 to $42.00 in a research report on Wednesday, May 27th. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $44.33.

Independent Bank Group Company Profile

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 offers various deposit products, including demand deposits, money market accounts, and certificates of deposit.

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Dividend History for Independent Bank Group (NASDAQ:IBTX)

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