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Independent Bank Group (IBTX)
NASDAQ:IBTX
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Earnings Data
Report Date
Feb 03, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
$0.66Last Year’s EPS
$0.62Same Quarter Last Year
Moderate Buy
Based on 2 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Oct 21, 2024
|% Change Since: 5.93%
|Next Earnings Date:Feb 03, 2025
Earnings Call Sentiment|Positive
The earnings call presented a positive outlook with several achievements such as adjusted net income growth, strong asset quality, entry into a new market, and improved capital ratios. However, challenges like NIM compression and slow loan growth were noted. The overall sentiment leans towards optimism despite some headwinds.Company Guidance
During the Independent Bank Group's first quarter 2024 earnings call, the management provided several key metrics and guidance for the future. The adjusted net income for the quarter was reported at $26 million, translating to $0.63 per diluted share, slightly up from the previous quarter's $25.5 million or $0.62 per diluted share. The net interest margin (NIM) compressed by 7 basis points to 2.42%, with anticipation of an inflection in the second quarter, assuming stable noninterest-bearing deposit trends. The bank's asset quality remained strong with zero annualized net charge-offs and nonperforming assets at 0.34%. The total capital ratio increased by 11 basis points to 11.68%, and the tangible common equity ratio grew by 7 basis points to 7.62%. Management expects loan growth to be slow initially but predicts an acceleration later in the year, supported by a healthy pipeline with $640 million in new commitments from the first quarter. Additionally, the recent opening of a full-service branch in San Antonio is expected to further bolster growth in both loans and deposits.Adjusted Net Income Growth
Adjusted net income totaled $26 million or $0.63 per diluted share compared to $25.5 million or $0.62 per diluted share in the linked quarter.
Strong Asset Quality Indicators
Asset quality remained strong with 0% annualized net charge-offs and low nonperforming assets of 0.34%.
Expansion into San Antonio Market
Opened the first full-service branch in San Antonio, Texas, which is expected to capitalize on a strong deposit and loan pipeline.
Improvement in Capital Ratios
Total capital ratio expanded by 11 basis points to 11.68% and the tangible common equity ratio expanded by 7 basis points to 7.62%.
Reduction in Borrowings
Reduced borrowings to the lowest level in over a year, including paying FHLB liabilities down to 0 at quarter end.
Mortgage Banking Revenue Increase
Adjusted noninterest income increased to $12.8 million in the first quarter from $12.4 million in the linked quarter, driven by stronger mortgage production.
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IBTX Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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IBTX Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Oct 21, 2024 | $57.16 | $58.09 | +1.63% |
| Jul 24, 2024 | $54.39 | $57.39 | +5.52% |
| Apr 22, 2024 | $40.89 | $39.60 | -3.15% |
| Jan 22, 2024 | $51.39 | $49.42 | -3.83% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Independent Bank Group (IBTX) report earnings?
Independent Bank Group (IBTX) is schdueled to report earning on Feb 03, 2025, TBA Not Confirmed.
What is Independent Bank Group (IBTX) earnings time?
Independent Bank Group (IBTX) earnings time is at Feb 03, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is IBTX EPS forecast?
IBTX EPS forecast for the fiscal quarter 2024 (Q4) is $0.66.
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