Independent Bank Group, Inc. (NASDAQ:IBTX – Get Free Report) announced a quarterly dividend on Monday, April 22nd, Zacks reports. Shareholders of record on Thursday, May 2nd will be paid a dividend of 0.38 per share by the bank on Thursday, May 16th. This represents a $1.52 annualized dividend and a yield of 3.97%. The ex-dividend date of this dividend is Wednesday, May 1st.
Independent Bank Group has raised its dividend payment by an average of 13.1% per year over the last three years. Independent Bank Group has a dividend payout ratio of 34.9% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Independent Bank Group to earn $3.99 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 38.1%.
Independent Bank Group Stock Down 2.7 %
Shares of NASDAQ:IBTX opened at $38.29 on Tuesday. The company has a 50 day moving average of $43.04 and a 200-day moving average of $43.66. The stock has a market cap of $1.58 billion, a price-to-earnings ratio of 15.13 and a beta of 1.33. Independent Bank Group has a one year low of $28.81 and a one year high of $53.25. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.97 and a quick ratio of 0.97.
Wall Street Analyst Weigh In
Several research analysts recently weighed in on the stock. Hovde Group reduced their price objective on shares of Independent Bank Group from $53.00 to $46.00 and set a “market perform” rating on the stock in a research note on Wednesday, April 24th. Piper Sandler cut Independent Bank Group from a “neutral” rating to an “underweight” rating and decreased their target price for the company from $48.00 to $38.00 in a research note on Wednesday, April 24th. Truist Financial dropped their target price on shares of Independent Bank Group from $52.00 to $46.00 and set a “buy” rating on the stock in a report on Thursday, April 25th. Raymond James upped their price target on shares of Independent Bank Group from $56.00 to $59.00 and gave the company an “outperform” rating in a report on Wednesday, January 24th. Finally, Stephens reissued an “overweight” rating and issued a $55.00 price target on shares of Independent Bank Group in a research note on Tuesday, April 23rd. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, Independent Bank Group has an average rating of “Hold” and an average price target of $48.33.
View Our Latest Report on Independent Bank Group
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.
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