Independent Bank Group (NASDAQ:IBTX) Issues Earnings Results

Independent Bank Group (NASDAQ:IBTX) issued its earnings results on Tuesday. The bank reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.06, Briefing.com reports. The firm had revenue of $119.10 million for the quarter, compared to analyst estimates of $121.39 million. Independent Bank Group had a net margin of 10.96% and a return on equity of 4.97%. The company’s quarterly revenue was down 15.3% on a year-over-year basis. During the same quarter last year, the business posted $1.07 earnings per share.

Independent Bank Group Trading Up 0.7 %

IBTX opened at $40.82 on Thursday. Independent Bank Group has a 1-year low of $28.81 and a 1-year high of $53.25. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.23. The company has a market cap of $1.69 billion, a P/E ratio of 16.13 and a beta of 1.33. The company has a fifty day moving average price of $43.41 and a two-hundred day moving average price of $43.64.

Independent Bank Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 16th. Investors of record on Thursday, May 2nd will be paid a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 3.72%. The ex-dividend date of this dividend is Wednesday, May 1st. Independent Bank Group’s dividend payout ratio is presently 60.08%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on IBTX shares. Hovde Group dropped their price target on shares of Independent Bank Group from $53.00 to $46.00 and set a “market perform” rating for the company in a research note on Wednesday. Raymond James raised their price target 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. Truist Financial dropped their price target on shares of Independent Bank Group from $58.00 to $52.00 and set a “buy” rating for the company in a research note on Monday, April 1st. Stephens reaffirmed an “overweight” rating and set a $55.00 price target on shares of Independent Bank Group in a research note on Tuesday. Finally, StockNews.com raised shares of Independent Bank Group to a “sell” rating in a research note on Thursday, January 25th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $50.83.

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.