Independent Bank Group (IBTX) Expected to Announce Quarterly Earnings on Monday

Independent Bank Group (NASDAQ:IBTX) is anticipated to announce its earnings results before the market opens on Monday, January 27th. Analysts expect the company to announce earnings of $0.69 per share and revenue of $128,402.00 billion for the quarter.

Independent Bank Group (NASDAQ:IBTX) last posted its quarterly earnings results on Monday, October 21st. The bank reported $0.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.21). The company had revenue of $255.18 million during the quarter, compared to analysts’ expectations of $124.48 million. Independent Bank Group had a positive return on equity of 4.49% and a negative net margin of 43.45%. During the same period in the prior year, the business posted $0.79 EPS. On average, analysts expect Independent Bank Group to post $3 EPS for the current fiscal year and $4 EPS for the next fiscal year.

Independent Bank Group Trading Up 0.5 %

NASDAQ IBTX opened at $60.67 on Monday. The company has a fifty day simple moving average of $63.39 and a two-hundred day simple moving average of $58.75. The stock has a market cap of $2.51 billion, a P/E ratio of -5.80 and a beta of 1.39. Independent Bank Group has a 12-month low of $36.47 and a 12-month high of $68.66. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.26.

Analyst Ratings Changes

IBTX has been the subject of a number of research analyst reports. StockNews.com initiated coverage on shares of Independent Bank Group in a report on Friday. They issued a “sell” rating for the company. Truist Financial reduced their target price on shares of Independent Bank Group from $66.00 to $63.00 and set a “hold” rating for the company in a report on Wednesday, October 23rd. Finally, Keefe, Bruyette & Woods raised their target price on shares of Independent Bank Group from $72.00 to $81.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $60.33.

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.