Independent Bank Group (IBTX) Scheduled to Post Earnings on Monday

Independent Bank Group (NASDAQ:IBTX) is scheduled to announce its earnings results after the market closes on Monday, April 22nd. Analysts expect the company to announce earnings of $0.57 per share for the quarter. Investors that are interested in registering for the company’s conference call can do so using this link.

Independent Bank Group (NASDAQ:IBTX) last announced its quarterly earnings results on Tuesday, January 23rd. The bank reported $0.62 EPS for the quarter, missing the consensus estimate of $0.66 by ($0.04). The company had revenue of $116.92 million during the quarter, compared to analyst estimates of $123.83 million. Independent Bank Group had a net margin of 4.68% and a return on equity of 5.76%. Independent Bank Group’s quarterly revenue was down 23.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.20 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 Price Performance

Shares of IBTX stock opened at $41.60 on Friday. The stock’s fifty day simple moving average is $43.58 and its 200 day simple moving average is $43.53. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.97 and a quick ratio of 0.97. The firm has a market cap of $1.72 billion, a price-to-earnings ratio of 40.00 and a beta of 1.33. Independent Bank Group has a one year low of $28.81 and a one year high of $53.25.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. StockNews.com raised Independent Bank Group to a “sell” rating in a research note on Thursday, January 25th. Raymond James boosted their target price on Independent Bank Group from $56.00 to $59.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 24th. Truist Financial dropped their target price on Independent Bank Group from $58.00 to $52.00 and set a “buy” rating for the company in a research report on Monday, April 1st. Keefe, Bruyette & Woods upped their price objective on Independent Bank Group from $53.00 to $55.00 and gave the company an “outperform” rating in a report on Wednesday, January 24th. Finally, Stephens reiterated an “overweight” rating and issued a $61.00 price objective on shares of Independent Bank Group in a report on Tuesday, January 23rd. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $54.20.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Brown Brothers Harriman & Co. acquired a new position in Independent Bank Group during the first quarter valued at approximately $38,000. Point72 Middle East FZE acquired a new stake in shares of Independent Bank Group in the fourth quarter valued at approximately $54,000. Ameritas Investment Partners Inc. lifted its position in shares of Independent Bank Group by 8.5% in the second quarter. Ameritas Investment Partners Inc. now owns 2,990 shares of the bank’s stock valued at $103,000 after buying an additional 233 shares during the last quarter. Point72 Hong Kong Ltd lifted its position in shares of Independent Bank Group by 17.8% in the first quarter. Point72 Hong Kong Ltd now owns 1,876 shares of the bank’s stock valued at $133,000 after buying an additional 283 shares during the last quarter. Finally, Tower Research Capital LLC TRC increased its stake in shares of Independent Bank Group by 462.7% during the second quarter. Tower Research Capital LLC TRC now owns 5,582 shares of the bank’s stock worth $193,000 after purchasing an additional 4,590 shares during the period. 77.90% of the stock is owned by institutional investors and hedge funds.

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.