Independent Bank price target lowered to $63 from $66 at Truist

Truist lowered the firm’s price target on Independent Bank (IBTX) to $63 from $66 and keeps a Hold rating on the shares after its Q3 earnings miss. The firm is also cutting its FY24 EPS view by 70c to $2.32, noting that its estimate revisions reflect slightly lower net interest income offset by lower expenses in 2025, the analyst tells investors in a research note.