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

Independent Bank Group (NASDAQ:IBTX) issued its earnings results on Monday. The bank reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.06, Briefing.com reports. Independent Bank Group had a return on equity of 5.76% and a net margin of 4.68%. The company had revenue of $119.10 million for the quarter, compared to analyst estimates of $121.39 million. During the same period in the prior year, the firm earned $1.07 earnings per share. Independent Bank Group’s revenue for the quarter was down 15.3% on a year-over-year basis.

Independent Bank Group Trading Up 0.6 %

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. The firm has a market cap of $1.73 billion, a price-to-earnings ratio of 40.26 and a beta of 1.33. Independent Bank Group has a 52 week low of $28.81 and a 52 week high of $53.25. The firm has a 50-day moving average price of $43.49 and a two-hundred day moving average price of $43.63.

Analyst Upgrades and Downgrades

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

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.