Independent Bank Group (NASDAQ:IBTX) Issues Quarterly Earnings Results, Beats Estimates By $0.06 EPS

Independent Bank Group (NASDAQ:IBTX) posted its quarterly earnings data on Monday. The bank reported $0.63 EPS for the quarter, beating the consensus estimate of $0.57 by $0.06, Briefing.com reports. Independent Bank Group had a return on equity of 4.99% and a net margin of 10.96%. The firm had revenue of $119.10 million during the quarter, compared to the consensus estimate of $121.39 million. During the same period in the prior year, the company earned $1.07 EPS. The firm’s revenue was down 15.3% compared to the same quarter last year.

Independent Bank Group Stock Down 3.2 %

Shares of IBTX opened at $40.55 on Wednesday. Independent Bank Group has a 52-week low of $28.81 and a 52-week high of $53.25. The company has a market capitalization of $1.67 billion, a PE ratio of 38.99 and a beta of 1.33. The stock has a fifty day simple moving average of $43.49 and a two-hundred day simple moving average of $43.63. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.28.

Analyst Upgrades and Downgrades

Several research firms recently commented on IBTX. Truist Financial reduced their price objective on Independent Bank Group from $58.00 to $52.00 and set a “buy” rating for the company in a research note on Monday, April 1st. Stephens reissued an “overweight” rating and issued a $55.00 price objective on shares of Independent Bank Group in a research note on Tuesday. Raymond James raised their target price on Independent Bank Group from $56.00 to $59.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 24th. StockNews.com raised Independent Bank Group to a “sell” rating in a research note on Thursday, January 25th. Finally, Keefe, Bruyette & Woods raised their target price on Independent Bank Group from $53.00 to $55.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 24th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $53.00.

Independent Bank Group Company Profile

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.