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Independent Bank Group: 3Q Earnings Snapshot

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10/26/2020 | 06:59pm EDT

MCKINNEY, Texas (AP) _ Independent Bank Group Inc. (IBTX) on Monday reported third-quarter earnings of $60.1 million.

The bank, based in McKinney, Texas, said it had earnings of $1.39 per share. Earnings, adjusted for non-recurring gains, were $1.38 per share.

The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.09 per share.

The bank holding company posted revenue of $177 million in the period. Its revenue net of interest expense was $157.2 million, also surpassing Street forecasts. Three analysts surveyed by Zacks expected $149.6 million.

Independent Bank Group shares have decreased 5% since the beginning of the year. In the final minutes of trading on Monday, shares hit $52.57, a drop of 1% in the last 12 months.

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on IBTX at https://www.zacks.com/ap/IBTX

Copyright by Automated Insights, Inc. All rights reserved., source Associated Press News


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