For the quarter ended March 2024, Independent Bank Group (IBTX - Free Report) reported revenue of $115.9 million, down 17.6% over the same period last year. EPS came in at $0.63, compared to $1.07 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $119.78 million, representing a surprise of -3.23%. The company delivered an EPS surprise of +10.53%, with the consensus EPS estimate being $0.57.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Independent Bank Group performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Net interest margin: 2.4% versus the four-analyst average estimate of 2.5%.
- Efficiency Ratio: 73.7% versus the four-analyst average estimate of 70.1%.
- Average Balance - Total interest earning assets: $17.11 billion versus the three-analyst average estimate of $17.32 billion.
- Net charge-offs to average loans: 0% versus 0.1% estimated by three analysts on average.
- Nonperforming loans: $56.30 million compared to the $55.66 million average estimate based on two analysts.
- Nonperforming assets: $65.10 million versus the two-analyst average estimate of $66.95 million.
- Net Interest Income: $103.03 million versus the four-analyst average estimate of $107.02 million.
- Total Noninterest Income: $12.87 million versus the four-analyst average estimate of $12.72 million.
- Net Interest Income (FTE): $104.11 million compared to the $107.79 million average estimate based on three analysts.
View all Key Company Metrics for Independent Bank Group here>>>Shares of Independent Bank Group have returned -5% over the past month versus the Zacks S&P 500 composite's -4% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.
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For the quarter ended March 2024, Independent Bank Group (IBTX - Free Report) reported revenue of $115.9 million, down 17.6% over the same period last year. EPS came in at $0.63, compared to $1.07 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $119.78 million, representing a surprise of -3.23%. The company delivered an EPS surprise of +10.53%, with the consensus EPS estimate being $0.57.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Independent Bank Group performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Net interest margin: 2.4% versus the four-analyst average estimate of 2.5%.
- Efficiency Ratio: 73.7% versus the four-analyst average estimate of 70.1%.
- Average Balance - Total interest earning assets: $17.11 billion versus the three-analyst average estimate of $17.32 billion.
- Net charge-offs to average loans: 0% versus 0.1% estimated by three analysts on average.
- Nonperforming loans: $56.30 million compared to the $55.66 million average estimate based on two analysts.
- Nonperforming assets: $65.10 million versus the two-analyst average estimate of $66.95 million.
- Net Interest Income: $103.03 million versus the four-analyst average estimate of $107.02 million.
- Total Noninterest Income: $12.87 million versus the four-analyst average estimate of $12.72 million.
- Net Interest Income (FTE): $104.11 million compared to the $107.79 million average estimate based on three analysts.
View all Key Company Metrics for Independent Bank Group here>>>Shares of Independent Bank Group have returned -5% over the past month versus the Zacks S&P 500 composite's -4% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.
Where Will Stocks Go…
If Biden Wins? If Trump Wins?
The answers may surprise you.
Since 1950, even after negative midterm years, the market has never had a lower presidential election year. With voters energized and engaged, the market has been almost unrelentingly bullish no matter which party wins!
Now is the time to download Zacks' free Special Report with 5 stocks that offer extreme upside for both Democrats and Republicans…
1. Medical manufacturer has gained +11,000% in the last 15 years.
2. Rental company is absolutely crushing its sector.
3. Energy powerhouse plans to grow its already large dividend by 25%.
4. Aerospace and defense standout just landed a potentially $80 billion contract.
5. Giant Chipmaker is building huge plants in the U.S.
Hurry, Download Special Report FREE >>
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