Independent Bank Group, Inc (NASDAQ:IBTX) declared a quarterly dividend on Thursday, October 26th, Wall Street Journal reports. Stockholders of record on Monday, November 6th will be given a dividend of 0.10 per share by the bank on Thursday, November 16th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.64%. The ex-dividend date of this dividend is Friday, November 3rd.

Independent Bank Group (NASDAQ:IBTX) last announced its quarterly earnings results on Monday, October 23rd. The bank reported $0.89 EPS for the quarter, topping analysts’ consensus estimates of $0.88 by $0.01. Independent Bank Group had a net margin of 23.46% and a return on equity of 8.11%. The firm had revenue of $84.99 million during the quarter, compared to analyst estimates of $83.00 million. During the same period in the previous year, the business posted $0.78 earnings per share.

In related news, Director John Webb Jennings III sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $61.78, for a total transaction of $185,340.00. Following the completion of the sale, the director now directly owns 38,350 shares in the company, valued at $2,369,263. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Vice Chairman Daniel W. Brooks sold 7,503 shares of the business’s stock in a transaction that occurred on Friday, October 13th. The shares were sold at an average price of $60.67, for a total transaction of $455,207.01. The disclosure for this sale can be found here. Insiders have sold 65,397 shares of company stock valued at $4,043,444 over the last 90 days. 7.70% of the stock is currently owned by company insiders.

A number of analysts have recently commented on IBTX shares. Stephens reiterated a “buy” rating and issued a $71.00 price target on shares of Independent Bank Group in a research note on Tuesday, July 25th. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $71.00 price target on shares of Independent Bank Group in a research note on Wednesday, October 4th. Piper Jaffray Companies reiterated a “buy” rating and issued a $76.00 price target on shares of Independent Bank Group in a research note on Friday, September 1st. Zacks Investment Research upgraded shares of Independent Bank Group from a “sell” rating to a “hold” rating in a research note on Friday, October 6th. Finally, Hovde Group upgraded shares of Independent Bank Group from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $68.00 to $69.00 in a research note on Wednesday, July 26th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and six have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $71.40.

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About Independent Bank Group

Independent Bank Group, Inc is a bank holding company. Through the Company’s subsidiary, Independent Bank (the Bank), the Company provides a range of commercial banking products and services tailored to meet the needs of businesses, professionals and individuals. As of December 31, 2016, the Company operated 41 banking offices in the Dallas/North Texas area, the Austin/Central Texas area, and the Houston metropolitan area.

Dividend History for Independent Bank Group (NASDAQ:IBTX)

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