Independent Bank Group (NASDAQ:IBTX) Announces Earnings Results

Independent Bank Group (NASDAQ:IBTX) issued its earnings results on Monday. The bank reported $0.50 EPS for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.21), Yahoo Finance reports. The company had revenue of $255.18 million during the quarter, compared to analyst estimates of $124.48 million. Independent Bank Group had a negative net margin of 43.02% and a positive return on equity of 4.83%. During the same quarter in the previous year, the firm earned $0.79 earnings per share.

Independent Bank Group Price Performance

Shares of IBTX opened at $57.53 on Tuesday. Independent Bank Group has a one year low of $34.50 and a one year high of $62.25. The stock’s fifty day moving average is $57.17 and its 200-day moving average is $49.84. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.96 and a current ratio of 0.96. The firm has a market capitalization of $2.38 billion, a price-to-earnings ratio of 22.74 and a beta of 1.38.

Independent Bank Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, August 19th. Stockholders of record on Monday, August 5th were paid a $0.38 dividend. The ex-dividend date was Monday, August 5th. This represents a $1.52 annualized dividend and a dividend yield of 2.64%. Independent Bank Group’s payout ratio is 60.08%.

Analysts Set New Price Targets

Several brokerages recently issued reports on IBTX. Truist Financial raised their price target 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 shares of 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 started coverage on shares of Independent Bank Group in a research report on Monday. They set a “sell” rating for the company. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, Independent Bank Group currently has a consensus rating of “Hold” and a consensus price target of $58.33.

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.