Independent Bank Group Inc (IBTX) Increases Dividend to $0.12 Per Share

Independent Bank Group Inc (NASDAQ:IBTX) announced a quarterly dividend on Wednesday, January 31st, Zacks reports. Stockholders of record on Monday, February 12th will be paid a dividend of 0.12 per share by the bank on Thursday, February 22nd. This represents a $0.48 annualized dividend and a dividend yield of 0.65%. The ex-dividend date is Friday, February 9th. This is a positive change from Independent Bank Group’s previous quarterly dividend of $0.10.

Shares of Independent Bank Group (NASDAQ:IBTX) opened at $74.40 on Monday. The firm has a market cap of $2,102.17, a PE ratio of 24.88 and a beta of 1.29. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.04 and a quick ratio of 1.03. Independent Bank Group has a one year low of $51.70 and a one year high of $75.95.

Independent Bank Group (NASDAQ:IBTX) last posted its quarterly earnings data on Monday, January 29th. The bank reported $0.90 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.93 by ($0.03). The firm had revenue of $88.83 million for the quarter, compared to analyst estimates of $83.85 million. Independent Bank Group had a return on equity of 8.26% and a net margin of 21.91%. During the same period in the previous year, the business posted $0.83 EPS. research analysts forecast that Independent Bank Group will post 4.81 EPS for the current year.

A number of analysts recently weighed in on the stock. Stephens reissued a “buy” rating on shares of Independent Bank Group in a report on Wednesday, January 31st. BidaskClub raised shares of Independent Bank Group from a “hold” rating to a “buy” rating in a report on Saturday, December 2nd. Sandler O’Neill reissued a “buy” rating on shares of Independent Bank Group in a report on Wednesday, January 31st. Zacks Investment Research raised shares of Independent Bank Group from a “hold” rating to a “buy” rating and set a $78.00 price target for the company in a report on Wednesday, January 10th. Finally, SunTrust Banks reaffirmed a “hold” rating and set a $75.00 target price on shares of Independent Bank Group in a report on Tuesday, January 9th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $73.57.

In other news, Vice Chairman Daniel W. Brooks sold 25,000 shares of Independent Bank Group stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $68.30, for a total transaction of $1,707,500.00. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 7.70% of the company’s stock.

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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.

Dividend History for Independent Bank Group (NASDAQ:IBTX)

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