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

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

Independent Bank Group Stock Up 1.6 %

Shares of IBTX opened at $58.46 on Wednesday. The firm has a market cap of $2.42 billion, a P/E ratio of 23.11 and a beta of 1.38. The stock has a 50 day simple moving average of $57.29 and a two-hundred day simple moving average of $49.95. 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.

Wall Street Analyst Weigh In

IBTX has been the topic of a number of research reports. Truist Financial boosted their price objective on Independent Bank Group from $65.00 to $66.00 and gave the company a “hold” rating in a research note on Friday, September 20th. StockNews.com started coverage on Independent Bank Group in a report on Monday. They set a “sell” rating for the company. Finally, Keefe, Bruyette & Woods lifted their target price on Independent Bank Group from $57.00 to $66.00 and gave the company an “outperform” rating in a report on Monday, July 29th. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price 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.