Independent Bank Group Inc (IBTX) Raises Dividend to $0.25 Per Share

Independent Bank Group Inc (NASDAQ:IBTX) declared a quarterly dividend on Thursday, January 31st, Wall Street Journal reports. Investors of record on Monday, February 11th will be paid a dividend of 0.25 per share by the bank on Thursday, February 21st. This represents a $1.00 dividend on an annualized basis and a yield of 1.90%. The ex-dividend date is Friday, February 8th. This is a positive change from Independent Bank Group’s previous quarterly dividend of $0.14.

Independent Bank Group has raised its dividend payment by an average of 19.1% per year over the last three years and has raised its dividend every year for the last 5 years. Independent Bank Group has a payout ratio of 12.3% meaning its dividend is sufficiently covered by earnings. Research analysts expect Independent Bank Group to earn $5.69 per share next year, which means the company should continue to be able to cover its $0.56 annual dividend with an expected future payout ratio of 9.8%.

Shares of Independent Bank Group stock opened at $52.76 on Friday. Independent Bank Group has a one year low of $44.14 and a one year high of $79.00. The firm has a market capitalization of $1.65 billion, a P/E ratio of 12.13 and a beta of 1.35. The company has a current ratio of 1.03, a quick ratio of 1.02 and a debt-to-equity ratio of 0.33.

Independent Bank Group (NASDAQ:IBTX) last announced its earnings results on Monday, January 28th. The bank reported $1.12 EPS for the quarter, missing the Zacks’ consensus estimate of $1.21 by ($0.09). Independent Bank Group had a return on equity of 8.89% and a net margin of 28.53%. The company had revenue of $97.00 million during the quarter, compared to the consensus estimate of $98.47 million. During the same period in the prior year, the business posted $0.90 earnings per share. As a group, analysts forecast that Independent Bank Group will post 5.14 earnings per share for the current year.

In other news, Vice Chairman Brian E. Hobart acquired 1,970 shares of the business’s stock in a transaction dated Wednesday, December 12th. The stock was purchased at an average price of $50.50 per share, for a total transaction of $99,485.00. Following the completion of the transaction, the insider now directly owns 124,375 shares in the company, valued at approximately $6,280,937.50. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, Director Donald L. Poarch acquired 2,500 shares of the business’s stock in a transaction dated Saturday, December 14th. The shares were purchased at an average price of $49.05 per share, with a total value of $122,625.00. Following the transaction, the director now owns 11,851 shares of the company’s stock, valued at $581,291.55. The disclosure for this purchase can be found here. Insiders acquired a total of 11,271 shares of company stock valued at $587,275 in the last quarter. 10.90% of the stock is currently owned by company insiders.

A number of equities analysts recently commented on IBTX shares. Stephens reaffirmed a “buy” rating and issued a $61.00 target price on shares of Independent Bank Group in a report on Wednesday, December 19th. BidaskClub upgraded Independent Bank Group from a “sell” rating to a “hold” rating in a research note on Saturday, October 6th. SunTrust Banks set a $64.00 price target on Independent Bank Group and gave the stock a “hold” rating in a research note on Wednesday, October 24th. Zacks Investment Research upgraded Independent Bank Group from a “sell” rating to a “hold” rating in a research note on Thursday, January 17th. Finally, Raymond James lowered Independent Bank Group from a “strong-buy” rating to an “outperform” rating and cut their price target for the stock from $72.00 to $61.00 in a research note on Monday, January 7th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $68.20.

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About Independent Bank Group

Independent Bank Group, Inc operates as the bank holding company for Independent Bank that provides a range of commercial banking products and services to businesses, professionals, and individuals in the United States. It offers various deposit products, including checking and savings accounts, demand accounts, money market accounts, and certificates of deposit, as well as individual retirement accounts.

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Dividend History for Independent Bank Group (NASDAQ:IBTX)

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