Independent Bank Group (NASDAQ:IBTX – Get Free Report) announced its quarterly earnings results on Wednesday. The bank reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.02, Briefing.com reports. The business had revenue of $252.52 million for the quarter, compared to the consensus estimate of $120.25 million. Independent Bank Group had a negative net margin of 43.02% and a positive return on equity of 4.58%. During the same period last year, the company posted $0.82 EPS.
Independent Bank Group Stock Up 2.0 %
Shares of NASDAQ:IBTX traded up $1.19 during midday trading on Friday, hitting $59.36. The stock had a trading volume of 183,483 shares, compared to its average volume of 265,929. Independent Bank Group has a 12 month low of $34.50 and a 12 month high of $59.49. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.23. The business’s 50-day simple moving average is $46.75 and its 200-day simple moving average is $45.27. The company has a market cap of $2.46 billion, a P/E ratio of 23.14 and a beta of 1.41.
Independent Bank Group Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, August 19th. Investors of record on Monday, August 5th will be paid a $0.38 dividend. The ex-dividend date of this dividend is Monday, August 5th. This represents a $1.52 annualized dividend and a dividend yield of 2.56%. Independent Bank Group’s dividend payout ratio is presently 60.08%.
Wall Street Analysts Forecast Growth
Check Out Our Latest Research Report on IBTX
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.
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