Independent Bank Group (NASDAQ:IBTX) Releases Earnings Results

Independent Bank Group (NASDAQ:IBTX) announced 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 company had revenue of $119.10 million during the quarter, compared to the consensus estimate of $121.39 million. Independent Bank Group had a return on equity of 5.76% and a net margin of 4.68%. The company’s quarterly revenue was down 15.3% on a year-over-year basis. During the same quarter last year, the company earned $1.07 EPS.

Independent Bank Group Stock Up 0.6 %

NASDAQ IBTX opened at $41.87 on Tuesday. The stock has a fifty day moving average of $43.49 and a 200-day moving average of $43.63. The stock has a market capitalization of $1.73 billion, a P/E 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 company has a debt-to-equity ratio of 0.28, a quick ratio of 0.97 and a current ratio of 0.97.

Analysts Set New Price Targets

Several equities analysts recently commented on IBTX shares. StockNews.com upgraded Independent Bank Group to a “sell” rating in a research report on Thursday, January 25th. Keefe, Bruyette & Woods raised their price target on Independent Bank Group from $53.00 to $55.00 and gave the company an “outperform” rating in a report on Wednesday, January 24th. Stephens reaffirmed an “overweight” rating and set a $61.00 price target on shares of Independent Bank Group in a report on Tuesday, January 23rd. Truist Financial dropped 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. Finally, Raymond James raised their price target on Independent Bank Group from $56.00 to $59.00 and gave the company an “outperform” rating in a report on Wednesday, January 24th. 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. Based on data from MarketBeat, the stock presently has an average 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.