Independent Bank Group (IBTX) Q1 Earnings: Taking a Look at Key Metrics Versus Estimates
Independent Bank Group (IBTX) reported $140.68 million in revenue for the quarter ended March 2023, representing a year-over-year decline of 2.3%. EPS of $1.07 for the same period compares to $1.22 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $149.58 million, representing a surprise of -5.95%. The company delivered an EPS surprise of -2.73%, with the consensus EPS estimate being $1.10.
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:
Efficiency Ratio: 132.41% versus 58.33% estimated by four analysts on average.
Net interest margin: 3.17% versus 3.45% estimated by four analysts on average.
Net charge-offs to average loans: 0.04% versus 0.06% estimated by three analysts on average.
Net Interest Income: $127.92 million compared to the $137.98 million average estimate based on four analysts.
Total Noninterest Income: $12.75 million versus $12.68 million estimated by four analysts on average.
Net Interest Income (FTE): $128.96 million versus $138.83 million estimated by three analysts on average.
View all Key Company Metrics for Independent Bank Group here>>>
Shares of Independent Bank Group have returned -10.3% over the past month versus the Zacks S&P 500 composite's +3.3% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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Independent Bank Group, Inc (IBTX) : Free Stock Analysis Report
