Independent Bank Group, Inc. operates as the bank holding company for Independent Bank that 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. The company also provides commercial real estate loans; commercial construction, land, and land development loans; residential real estate loans; single-family interim construction loans; commercial loans comprising SBA guaranteed loans, business term loans, equipment lease financing, lines of credit, and energy related loans; agricultural loans for farmers and ranchers; consumer installment loans comprising loans to purchase cars, boats, and other recreational vehicles; and residential mortgages, as well as mortgage warehouse purchase loans. In addition, it offers debit cards, online and mobile banking, eStatement, bank-by-mail, and direct deposit services; and business accounts and management services, including analyzed business checking, business savings, and treasury management services. As of December 31, 2021, the company operated 93 full-service branches. Independent Bank Group, Inc. was founded in 2002 and is headquartered in McKinney, Texas.
Independent Bank Group Trading Down 0.1 %
IBTX opened at $74.60 on Friday. The company's 50 day moving average is $69.59 and its 200-day moving average is $71.86. Independent Bank Group has a 1-year low of $62.82 and a 1-year high of $79.66. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.24. The company has a market cap of $3.07 billion, a P/E ratio of 15.22 and a beta of 1.51.
Independent Bank Group (NASDAQ:IBTX - Get Rating) last posted its quarterly earnings results on Monday, July 25th. The bank reported $1.27 earnings per share for the quarter, beating analysts' consensus estimates of $1.23 by $0.04. Independent Bank Group had a net margin of 32.74% and a return on equity of 8.49%. The company had revenue of $151.88 million for the quarter, compared to the consensus estimate of $151.05 million. During the same period last year, the company posted $1.35 EPS. Equities research analysts predict that Independent Bank Group will post 5.25 earnings per share for the current fiscal year.
Independent Bank Group Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 18th. Investors of record on Thursday, August 4th were issued a $0.38 dividend. The ex-dividend date of this dividend was Wednesday, August 3rd. This represents a $1.52 dividend on an annualized basis and a yield of 2.04%. Independent Bank Group's dividend payout ratio (DPR) is presently 31.02%.
Analysts Set New Price Targets
A number of brokerages have issued reports on IBTX. Truist Financial increased their price objective on shares of Independent Bank Group to $80.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 27th. Piper Sandler reduced their price objective on shares of Independent Bank Group to $76.00 in a research note on Monday, July 4th. Finally, Stephens increased their price objective on shares of Independent Bank Group to $80.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 27th.
Insider Activity at Independent Bank Group
In related news, COO Michael B. Hobbs sold 1,350 shares of the firm's stock in a transaction that occurred on Wednesday, August 17th. The shares were sold at an average price of $74.76, for a total value of $100,926.00. Following the completion of the transaction, the chief operating officer now owns 31,308 shares in the company, valued at approximately $2,340,586.08. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, COO Michael B. Hobbs sold 1,350 shares of the firm's stock in a transaction that occurred on Wednesday, August 17th. The shares were sold at an average price of $74.76, for a total value of $100,926.00. Following the completion of the transaction, the chief operating officer now owns 31,308 shares in the company, valued at approximately $2,340,586.08. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP James C. White sold 876 shares of the firm's stock in a transaction that occurred on Friday, June 3rd. The stock was sold at an average price of $72.71, for a total transaction of $63,693.96. Following the transaction, the executive vice president now owns 7,355 shares of the company's stock, valued at approximately $534,782.05. The disclosure for this sale can be found here. 3.30% of the stock is owned by company insiders.
