Independent Bank Group (NASDAQ:IBTX) Issues Earnings Results, Beats Expectations 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, topping analysts’ consensus estimates of $0.57 by $0.06, Briefing.com reports. The firm had revenue of $119.10 million during the quarter, compared to analysts’ expectations of $121.39 million. Independent Bank Group had a return on equity of 5.76% and a net margin of 4.68%. The firm’s quarterly revenue was down 15.3% compared to the same quarter last year. During the same quarter last year, the business posted $1.07 EPS.

Independent Bank Group Stock Up 0.6 %

Shares of NASDAQ:IBTX opened at $41.87 on Tuesday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.97 and a current ratio of 0.97. Independent Bank Group has a 1 year low of $28.81 and a 1 year high of $53.25. The stock has a market capitalization of $1.73 billion, a P/E ratio of 40.26 and a beta of 1.33. The stock has a 50-day simple moving average of $43.49 and a 200-day simple moving average of $43.63.

Analysts Set New Price Targets

IBTX has been the subject of a number of recent research reports. Raymond James lifted their price objective on Independent Bank Group from $56.00 to $59.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 24th. Keefe, Bruyette & Woods lifted their price objective on Independent Bank Group from $53.00 to $55.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 24th. Truist Financial lowered their price target on Independent Bank Group from $58.00 to $52.00 and set a “buy” rating for the company in a report on Monday, April 1st. Stephens restated an “overweight” rating and issued a $61.00 price target on shares of Independent Bank Group in a report on Tuesday, January 23rd. Finally, StockNews.com upgraded Independent Bank Group to a “sell” rating in a report on Thursday, January 25th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $54.20.

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.