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Independent Bank Group (IBTX) Reports Q1 Earnings: What Key Metrics Have to Say
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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.
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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Independent Bank Group (IBTX) Reports Q1 Earnings: What Key Metrics Have to Say
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.