Independent Bank Group (NASDAQ:IBTX) Announces Earnings Results, Misses Estimates By $0.21 EPS

Independent Bank Group (NASDAQ:IBTX) issued its quarterly earnings results on Monday. The bank reported $0.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.21), Yahoo Finance reports. The business had revenue of $255.18 million for the quarter, compared to analysts’ expectations of $124.48 million. Independent Bank Group had a positive return on equity of 4.83% and a negative net margin of 43.02%. During the same quarter in the prior year, the company posted $0.79 EPS.

Independent Bank Group Trading Up 1.6 %

IBTX opened at $58.46 on Wednesday. The company’s 50 day simple moving average is $57.29 and its two-hundred day simple moving average is $49.95. The firm has a market capitalization of $2.42 billion, a price-to-earnings ratio of 23.11 and a beta of 1.38. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.96 and a quick ratio of 0.96. Independent Bank Group has a 1-year low of $34.50 and a 1-year high of $62.25.

Analysts Set New Price Targets

Several brokerages have recently weighed in on IBTX. Truist Financial upped their target price on Independent Bank Group from $65.00 to $66.00 and gave the stock a “hold” rating in a research note on Friday, September 20th. StockNews.com began coverage on shares of Independent Bank Group in a research report on Monday. They set a “sell” rating for the company. Finally, Keefe, Bruyette & Woods lifted their target price on shares of Independent Bank Group from $57.00 to $66.00 and gave the company an “outperform” rating in a research report on Monday, July 29th. One analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $58.33.

About Independent Bank Group

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.