Independent Bank Group, Inc Declares Quarterly Dividend of $0.10 (NASDAQ:IBTX)
Independent Bank Group, Inc (NASDAQ:IBTX) announced a quarterly dividend on Thursday, July 27th, Wall Street Journal reports. Investors of record on Monday, August 7th will be given a dividend of 0.10 per share by the bank on Thursday, August 17th. This represents a $0.40 annualized dividend and a dividend yield of 0.66%. The ex-dividend date is Thursday, August 3rd.
Independent Bank Group (NASDAQ:IBTX) traded down 0.50% during midday trading on Thursday, hitting $59.90. 54,214 shares of the company traded hands. Independent Bank Group has a 12-month low of $34.00 and a 12-month high of $66.85. The stock’s 50-day moving average is $58.82 and its 200-day moving average is $61.03. The firm has a market capitalization of $1.66 billion, a PE ratio of 19.76 and a beta of 1.26.
Independent Bank Group (NASDAQ:IBTX) last announced its quarterly earnings results on Monday, July 24th. The bank reported $0.82 EPS for the quarter, meeting analysts’ consensus estimates of $0.82. The firm had revenue of $80.50 million during the quarter, compared to analysts’ expectations of $81.31 million. Independent Bank Group had a net margin of 23.52% and a return on equity of 10.30%. The company’s revenue for the quarter was up 58.4% compared to the same quarter last year. During the same quarter last year, the company posted $0.74 earnings per share. Analysts anticipate that Independent Bank Group will post $3.49 EPS for the current fiscal year.
A number of analysts have commented on IBTX shares. Stephens reiterated a “buy” rating on shares of Independent Bank Group in a research note on Monday, April 24th. Zacks Investment Research cut shares of Independent Bank Group from a “buy” rating to a “hold” rating in a research note on Thursday, April 27th. Sandler O’Neill upgraded shares of Independent Bank Group from a “hold” rating to a “buy” rating and set a $70.00 price target for the company in a research note on Monday, June 26th. ValuEngine upgraded shares of Independent Bank Group from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. Finally, BidaskClub cut shares of Independent Bank Group from a “hold” rating to a “sell” rating in a research note on Saturday, June 24th. Two research analysts have rated the stock with a sell rating and five have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $69.60.
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Independent Bank Group Company Profile
Independent Bank Group, Inc is a bank holding company. Through the Company’s subsidiary, Independent Bank (the Bank), the Company provides a range of commercial banking products and services tailored to meet the needs of businesses, professionals and individuals. As of December 31, 2016, the Company operated 41 banking offices in the Dallas/North Texas area, the Austin/Central Texas area, and the Houston metropolitan area.
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