Independent Bank Group (IBTX) to Release Earnings on Thursday

Independent Bank Group (NASDAQ:IBTX) is scheduled to release its earnings data before the market opens on Thursday, October 24th. Analysts expect Independent Bank Group to post earnings of $0.67 per share for the quarter.

Independent Bank Group (NASDAQ:IBTX) last posted its earnings results on Wednesday, July 24th. The bank reported $0.60 EPS for the quarter, beating the consensus estimate of $0.58 by $0.02. The company had revenue of $252.52 million for the quarter, compared to the consensus estimate of $120.25 million. Independent Bank Group had a positive return on equity of 4.83% and a negative net margin of 43.02%. During the same quarter in the prior year, the business earned $0.82 earnings per share. On average, analysts expect Independent Bank Group to post $3 EPS for the current fiscal year and $4 EPS for the next fiscal year.

Independent Bank Group Stock Performance

NASDAQ:IBTX opened at $57.53 on Tuesday. The stock has a 50 day simple moving average of $57.17 and a 200 day simple moving average of $49.84. The stock has a market cap of $2.38 billion, a P/E ratio of 22.74 and a beta of 1.38. Independent Bank Group has a 1-year low of $34.50 and a 1-year high of $62.25. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.25.

Independent Bank Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 19th. Stockholders of record on Monday, August 5th were issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.64%. The ex-dividend date of this dividend was Monday, August 5th. Independent Bank Group’s dividend payout ratio is currently 60.08%.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Keefe, Bruyette & Woods raised their price target on shares of Independent Bank Group from $57.00 to $66.00 and gave the stock an “outperform” rating in a research report on Monday, July 29th. StockNews.com started coverage on shares of Independent Bank Group in a research report on Monday. They set a “sell” rating on the stock. Finally, Truist Financial lifted their price target on shares of Independent Bank Group from $65.00 to $66.00 and gave the company a “hold” rating in a research report on Friday, September 20th. One analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, Independent Bank Group has an average 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.