Independent Bank Group said on January 23, 2023 that its board of directors declared a regular quarterly dividend of $0.38 per share ($1.52 annualized). Shareholders of record as of February 3, 2023 will receive the payment on February 16, 2023. Previously, the company paid $0.38 per share.

At the most recent share price of $59.29 / share, the stock’s dividend yield was 2.56%. Additionally, the company’s dividend payout ratio is 0.32, indicating it is retaining a low percentage of its earnings to reinvest in growth opportunities.

The company’s 3-Year dividend growth rate is 0.52%, demonstrating that it has increased its dividend over time.

Analyst Price Forecast Suggests 22.15% Upside

As of January 30, 2023, the average one-year price target for Independent Bank Group is $72.42. The forecasts range from a low of $65.65 to a high of $84.00. The average price target represents an increase of 22.15% from its latest reported closing price of $59.29.

The projected annual revenue for Independent Bank Group is $687MM, an increase of 13.44%. The projected annual EPS is $5.40, an increase of 14.84%.

Fund Sentiment

There are 483 funds or institutions reporting positions in Independent Bank Group. This is a decrease of 3 owner(s) or 0.62%.

Average portfolio weight of all funds dedicated to US:IBTX is 0.1731%, a decrease of 1.0989%. Total shares owned by institutions decreased in the last three months by 1.05% to 38,535K shares.

What are large shareholders doing?

IJR – iShares Core S&P Small-Cap ETF holds 2,590,698 shares representing 6.29% ownership of the company. In it’s prior filing, the firm reported owning 2,537,514 shares, representing an increase of 2.05%. The firm decreased its portfolio allocation in IBTX by 6.33% over the last quarter.

Capital Research Global Investors holds 2,446,602 shares representing 5.94% ownership of the company. No change in the last quarter.

SMCWX – SMALLCAP WORLD FUND INC holds 2,166,153 shares representing 5.26% ownership of the company. No change in the last quarter.

T. Rowe Price Investment Management holds 1,357,152 shares representing 3.29% ownership of the company.

FCPVX – Fidelity Small Cap Value Fund holds 1,141,196 shares representing 2.77% ownership of the company. In it’s prior filing, the firm reported owning 1,041,196 shares, representing an increase of 8.76%. The firm increased its portfolio allocation in IBTX by 3.62% over the last quarter.

Independent Bank Group Background Information
(This description is provided by the company.)

Independent Bank Group, through its wholly owned subsidiary, Independent Bank, provides a wide range of relationship-driven commercial banking products and services tailored to meet the needs of businesses, professionals and individuals. Independent Bank Group operates in the market regions located in the Dallas/Fort Worth, Austin and Houston areas in Texas and the Colorado Front Range area, including Denver, Colorado Springs and Fort Collins.

This article originally appeared on Fintel

Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.