Independent Bank Group (IBTX) Set to Announce Quarterly Earnings on Thursday

Independent Bank Group (NASDAQ:IBTX) will announce its earnings results before the market opens on Thursday, October 24th. Analysts expect the company to announce earnings of $0.67 per share for the quarter.

Independent Bank Group (NASDAQ:IBTX) last posted its quarterly earnings results on Wednesday, July 24th. The bank reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.02. The company had revenue of $252.52 million for the quarter, compared to analysts’ expectations of $120.25 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 posted $0.82 EPS. 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 Trading Up 1.0 %

NASDAQ:IBTX opened at $61.44 on Thursday. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.25. The stock has a market capitalization of $2.54 billion, a PE ratio of 24.28 and a beta of 1.38. The firm’s 50 day moving average is $56.71 and its 200 day moving average is $49.44. Independent Bank Group has a 12 month low of $34.50 and a 12 month high of $62.25.

Independent Bank Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 19th. Investors of record on Monday, August 5th were issued a $0.38 dividend. The ex-dividend date of this dividend was Monday, August 5th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.47%. Independent Bank Group’s dividend payout ratio (DPR) is presently 60.08%.

Wall Street Analyst Weigh In

A number of research firms recently commented on IBTX. Truist Financial lifted their price target on shares of 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 target price 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 began coverage on shares of Independent Bank Group in a report on Sunday. They set a “sell” rating on the stock. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company. 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.