Independent Bank Group Inc reports results for the quarter ended in June - Earnings Summary

Independent Bank

25/07/2024 24:03

* Independent Bank Group Inc  IBTX.OQ  reported quarterly
adjusted
earnings of 60 cents​​ per share for the quarter ended in June,
lower than the same quarter last year, when the company reported
EPS of 82 cents.  The mean expectation of seven analysts for the
quarter was for earnings of 58 cents per share. Wall Street
expected results to range from 50 cents to 65 cents per share.
    * Revenue fell 7.1% to $118.58 million from a year ago;
analysts
expected $120.49 million. 
    * Independent Bank Group Inc's reported EPS for the quarter
was a
loss of $11.89​.
    * The company reported a quarterly loss of $493.46 million.
    * Independent Bank Group Inc shares had risen by 24.0% this
quarter and gained 10.9% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had risen by
about 1.5%
in the last three months.​ 
    * In the last 30 days, there have been no earnings estimate
revisions by analysts covering the company.

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 4 "strong buy" or "buy," 3
"hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the banks peer
group is
also "buy"

Wall Street's median 12-month price target for Independent Bank
Group Inc is $49.00 
This summary was machine generated from LSEG data July 24 at
11:03 p.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Jun. 30 2024      0.58           0.60           Beat
 Mar. 31 2024      0.59           0.63           Beat
 Dec. 31 2023      0.67           0.62           Missed
 Sep. 30 2023      0.73           0.79           Beat