Independent Bank Group, Inc (NASDAQ:IBTX) is reporting third quarter earnings results on Monday 26th October 2020, after market close.
The consensus estimates from Thomson Reuters are income of $ 1.05 per share.
For the full year, analysts predict revenues of $ 588.48 million, while looking forward to income of $ 4.02 per share.
Previous Quarter Performance
Independent Bank Group, Inc outlined income for the second quarter of $ 1.14 per share, from the revenue of $ 148.69 million. The quarterly earnings contracted 0.87 percent while revenues expanded 5.81 percent compared with the same quarter last year.
According to street consensus, IBTX was expected to report 2Q20 income of $ 0.89 per share from revenue of $ 141.63 million. The bottom line results beat street analysts by $ 0.25 or 28.09 percent, at the same time, top line results outshined analysts by $ 7.06 million or 4.98 percent.
Stock Performance
On Friday, shares of Independent Bank Group, Inc has traded high as $ 52.72 and has cracked $ 51.53 on the downward trend, reaching $ 52.46 with volume of 327.00 thousand shares.
According to the previous trading day, closing price of $ 52.46, representing a 153.56 % increase from the 52 week low of $ 20.35 and a 18.3 % decrease over the 52 week high of $ 63.16.
The company has a market capital of $ 2.27 billion and is part of the Financial Services sector and Banks – Regional – US industry.
Recent Analyst recommendations
- On 6th October 2020, downgraded by Raymond James to Market Perform from Outperform rating.
- On 30th September 2020, maintained by Piper Sandler at Overweight rating, with $ 48.50 target price.
Recent Stock Dividend Announcement
On July 29, 2020, the board of directors authorized quarterly dividend of $ 0.25 per share to holders of record as of the close of business on August 10, 2020, with payment date of August 20, 2020 and ex-dividend date on August 7, 2020.
Independent Bank Group, Inc. operates as the bank holding company for Independent Bank that provides various commercial banking products and services to businesses, professionals, and individuals in the United States. It offers various deposit products, including demand deposits, money market accounts, and certificates of deposit.
