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

Independent Bank

23/04/2024 24:14

* Independent Bank Group Inc  IBTX.OQ  reported quarterly
adjusted
earnings of 63 cents​​ per share for the quarter ended in March,
lower than the same quarter last year, when the company reported
EPS of $1.07.  The mean expectation of seven analysts for the
quarter was for earnings of 59 cents per share. Wall Street
expected results to range from 54 cents to 64 cents per share.
    * Revenue fell 17.6% to $115.90 million from a year ago;
analysts
expected $121.39 million. 
    * Independent Bank Group Inc's reported EPS for the quarter
was 58
cents​.
    * The company reported quarterly net income of $24.15
million.
    * Independent Bank Group Inc shares had fallen by 8.9% this
quarter and lost 18.2% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 8.3%
in the last three months.​ 
    * In the last 30 days, three analysts negatively revised
earnings
estimates

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 $54.00 
This summary was machine generated from LSEG data April 22 at
11:14 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
 Mar. 31 2024      0.59           0.63           Beat
 Dec. 31 2023      0.67           0.62           Missed
 Sep. 30 2023      0.73           0.79           Beat
 Jun. 30 2023      0.87           0.82           Missed