Independent Bank Group: 4Q Earnings Snapshot
MCKINNEY, Texas (AP) _ Independent Bank Group Inc. (IBTX) on Monday reported fourth-quarter earnings of $34 million.
The McKinney, Texas-based bank said it had earnings of $1.11 per share. Earnings, adjusted for costs related to mergers and acquisitions, were $1.12 per share.
The results missed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $1.21 per share.
The bank holding company posted revenue of $122.7 million in the period. Its revenue net of interest expense was $97 million, which also did not meet Street forecasts. Three analysts surveyed by Zacks expected $98.5 million.
For the year, the company reported profit of $128.3 million, or $4.33 per share. Revenue was reported as $368.5 million.
Independent Bank Group shares have risen 18 percent since the beginning of the year. In the final minutes of trading on Monday, shares hit $54.17, a decline of 26 percent in the last 12 months.