Independent Bank Group, Inc. (NASDAQ:IBTX – Get Free Report) announced a quarterly dividend on Monday, October 21st, Zacks reports. Investors of record on Thursday, October 31st will be paid a dividend of 0.38 per share by the bank on Thursday, November 14th. This represents a $1.52 annualized dividend and a dividend yield of 2.60%. The ex-dividend date of this dividend is Thursday, October 31st.
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 40.5% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Independent Bank Group to earn $3.79 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 40.1%.
Independent Bank Group Stock Performance
Shares of IBTX opened at $58.46 on Wednesday. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.96 and a quick ratio of 0.96. Independent Bank Group has a one year low of $34.50 and a one year high of $62.25. The firm has a market capitalization of $2.42 billion, a P/E ratio of 23.11 and a beta of 1.38. The business has a fifty day moving average of $57.29 and a 200 day moving average of $49.95.
Wall Street Analysts Forecast Growth
Several brokerages recently commented on IBTX. Truist Financial lifted their price objective on Independent Bank Group from $65.00 to $66.00 and gave the stock a “hold” rating in a report on Friday, September 20th. Keefe, Bruyette & Woods boosted their price target on Independent Bank Group from $57.00 to $66.00 and gave the company an “outperform” rating in a report on Monday, July 29th. Finally, StockNews.com assumed coverage on Independent Bank Group in a report on Monday. They set a “sell” rating for the company. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $58.33.
Check Out Our Latest Stock Analysis on IBTX
About Independent Bank Group
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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