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Independent Bank Group (IBTX) Q2 Earnings: How Key Metrics Compare to Wall Street Estimates
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For the quarter ended June 2023, Independent Bank Group (IBTX - Free Report) reported revenue of $127.7 million, down 15.9% over the same period last year. EPS came in at $0.82, compared to $1.27 in the year-ago quarter.
The reported revenue represents a surprise of -8.31% over the Zacks Consensus Estimate of $139.28 million. With the consensus EPS estimate being $0.90, the EPS surprise was -8.89%.
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.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
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:
Efficiency Ratio: 64.68% versus 62.38% estimated by four analysts on average.
Net interest margin: 2.71% versus the four-analyst average estimate of 3.01%.
Net charge-offs to average loans: -0.03% versus the three-analyst average estimate of 0.09%.
Average Balance - Total interest earning assets: $16.80 billion compared to the $16.69 billion average estimate based on two analysts.
Net Interest Income: $113.61 million compared to the $126.11 million average estimate based on four analysts.
Total Noninterest Income: $14.10 million compared to the $13.15 million average estimate based on four analysts.
Net Interest Income (FTE): $114.64 million versus $127 million estimated by three analysts on average.
Shares of Independent Bank Group have returned +16.1% over the past month versus the Zacks S&P 500 composite's +4% change. The stock currently has a Zacks Rank #5 (Strong Sell), indicating that it could underperform the broader market in the near term.
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Independent Bank Group (IBTX) Q2 Earnings: How Key Metrics Compare to Wall Street Estimates
For the quarter ended June 2023, Independent Bank Group (IBTX - Free Report) reported revenue of $127.7 million, down 15.9% over the same period last year. EPS came in at $0.82, compared to $1.27 in the year-ago quarter.
The reported revenue represents a surprise of -8.31% over the Zacks Consensus Estimate of $139.28 million. With the consensus EPS estimate being $0.90, the EPS surprise was -8.89%.
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.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
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:
- Efficiency Ratio: 64.68% versus 62.38% estimated by four analysts on average.
- Net interest margin: 2.71% versus the four-analyst average estimate of 3.01%.
- Net charge-offs to average loans: -0.03% versus the three-analyst average estimate of 0.09%.
- Average Balance - Total interest earning assets: $16.80 billion compared to the $16.69 billion average estimate based on two analysts.
- Net Interest Income: $113.61 million compared to the $126.11 million average estimate based on four analysts.
- Total Noninterest Income: $14.10 million compared to the $13.15 million average estimate based on four analysts.
- Net Interest Income (FTE): $114.64 million versus $127 million estimated by three analysts on average.
View all Key Company Metrics for Independent Bank Group here>>>Shares of Independent Bank Group have returned +16.1% over the past month versus the Zacks S&P 500 composite's +4% change. The stock currently has a Zacks Rank #5 (Strong Sell), indicating that it could underperform the broader market in the near term.