Investing

Independent Bank Group Declares $0.38 Dividend

Fintel Staff

Published: January 30, 2023 10:26 pm

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