Independent Bank Group (NASDAQ:IBTX) Releases Quarterly Earnings Results

Independent Bank Group (NASDAQ:IBTX) announced its earnings results on Monday. The bank reported $0.63 earnings per share 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 company had revenue of $119.10 million for the quarter, compared to the consensus estimate of $121.39 million. During the same period last year, the business posted $1.07 EPS. The company’s revenue was down 15.3% on a year-over-year basis.

Independent Bank Group Stock Down 3.2 %

IBTX opened at $40.55 on Wednesday. The business’s fifty day moving average is $43.49 and its two-hundred day moving average is $43.63. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.97 and a current ratio of 0.97. The company has a market cap of $1.67 billion, a price-to-earnings ratio of 38.99 and a beta of 1.33. Independent Bank Group has a one year low of $28.81 and a one year high of $53.25.

Wall Street Analyst Weigh In

Several brokerages have weighed in on IBTX. Keefe, Bruyette & Woods lifted their target price on Independent Bank Group from $53.00 to $55.00 and gave the company an “outperform” rating in a research note on Wednesday, January 24th. Raymond James lifted their price target on Independent Bank Group from $56.00 to $59.00 and gave the company an “outperform” rating in a research note on Wednesday, January 24th. StockNews.com upgraded Independent Bank Group to a “sell” rating in a research note on Thursday, January 25th. Truist Financial decreased their price target on Independent Bank Group from $58.00 to $52.00 and set a “buy” rating on the stock in a research note on Monday, April 1st. Finally, Stephens restated an “overweight” rating and issued a $55.00 price target on shares of Independent Bank Group in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, Independent Bank Group 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.