Independent Bank Group (NASDAQ:IBTX) Releases Earnings Results, Misses Estimates By $0.21 EPS

Independent Bank Group (NASDAQ:IBTX - Get Free Report) posted its quarterly earnings results on Monday. The bank reported $0.50 earnings per share 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 company had revenue of $255.18 million during the quarter, compared to analysts' expectations of $124.48 million. During the same quarter in the previous year, the company earned $0.79 EPS.

Independent Bank Group Stock Performance

Shares of NASDAQ:IBTX traded up $0.93 during trading on Tuesday, hitting $58.46. The company's stock had a trading volume of 159,233 shares, compared to its average volume of 237,944. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.96 and a quick ratio of 0.96. The firm has a market cap of $2.42 billion, a price-to-earnings ratio of 22.87 and a beta of 1.38. The company has a 50-day moving average of $57.17 and a 200-day moving average of $49.84. 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 firm also recently declared a quarterly dividend, which was paid on Monday, August 19th. Stockholders of record on Monday, August 5th were given a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 2.60%. The ex-dividend date was Monday, August 5th. Independent Bank Group's payout ratio is currently 60.08%.

Wall Street Analysts Forecast Growth

IBTX has been the topic of several analyst reports. Truist Financial upped their target price on shares of Independent Bank Group from $65.00 to $66.00 and gave the stock a "hold" rating in a research note on Friday, September 20th. Keefe, Bruyette & Woods upped their price objective on Independent Bank Group from $57.00 to $66.00 and gave the company an "outperform" rating in a research report on Monday, July 29th. Finally, StockNews.com started coverage on Independent Bank Group in a report on Monday. They issued a "sell" rating for the company. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company presently 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.