Independent Bank Group (IBTX) Q3 Earnings: Taking a Look at Key Metrics Versus Estimates
For the quarter ended September 2023, Independent Bank Group (IBTX) reported revenue of $122.7 million, down 23.7% over the same period last year. EPS came in at $0.79, compared to $1.33 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $127.03 million, representing a surprise of -3.41%. The company delivered an EPS surprise of +11.27%, with the consensus EPS estimate being $0.71.
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: 63.8% versus 67% estimated by four analysts on average.
Net interest margin: 2.6% compared to the 2.7% average estimate based on four analysts.
Net charge-offs to average loans: 0% versus the three-analyst average estimate of 0.1%.
Average Balance - Total interest earning assets: $16.66 billion versus the two-analyst average estimate of $16.68 billion.
Nonperforming loans: $38.40 million compared to the $41.10 million average estimate based on two analysts.
Nonperforming assets: $61 million versus the two-analyst average estimate of $63.60 million.
Net Interest Income: $109.05 million versus the four-analyst average estimate of $112.83 million.
Total Noninterest Income: $13.65 million versus $13.93 million estimated by four analysts on average.
Net Interest Income (FTE): $110.08 million compared to the $114 million average estimate based on two analysts.
View all Key Company Metrics for Independent Bank Group here>>>
Shares of Independent Bank Group have returned -10% 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, Inc (IBTX) : Free Stock Analysis Report
