Independent Bank Group (NASDAQ:IBTX) Announces Quarterly Earnings Results, Misses Expectations By $0.21 EPS

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

Independent Bank Group Stock Down 0.9 %

IBTX stock traded down $0.55 during midday trading on Wednesday, reaching $57.91. 151,376 shares of the company were exchanged, compared to its average volume of 237,522. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.96 and a current ratio of 0.96. Independent Bank Group has a 1-year low of $34.50 and a 1-year high of $62.25. The stock’s 50-day simple moving average is $57.29 and its 200 day simple moving average is $49.95. The company has a market cap of $2.40 billion, a price-to-earnings ratio of 23.11 and a beta of 1.38.

Independent Bank Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Thursday, October 31st will be paid a $0.38 dividend. The ex-dividend date is Thursday, October 31st. This represents a $1.52 dividend on an annualized basis and a yield of 2.62%. Independent Bank Group’s dividend payout ratio is currently 60.08%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Keefe, Bruyette & Woods raised their price objective 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 began coverage on shares of Independent Bank Group in a research report on Monday. They set a “sell” rating for the company. Finally, Truist Financial lowered their target price on shares of Independent Bank Group from $66.00 to $63.00 and set a “hold” rating for the company in a research note on Wednesday. One equities research 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’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $57.83.

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.