Independent Financial institution Group (IBTX) got here out with quarterly earnings of $1.39 per share, beating the Zacks Consensus Estimate of $1.30 per share. This compares to earnings of $1.01 per share a yr in the past. These figures are adjusted for non-recurring objects.
This quarterly report represents an earnings shock of 6.92%. 1 / 4 in the past, it was anticipated that this financial institution holding firm would submit earnings of $1.35 per share when it really produced earnings of $1.34, delivering a shock of -0.74%.
During the last 4 quarters, the corporate has surpassed consensus EPS estimates thrice.
Unbiased Financial institution Group, which belongs to the Zacks Banks – Southeast business, posted revenues of $148.34 million for the quarter ended March 2021, lacking the Zacks Consensus Estimate by 1.48%. This compares to year-ago revenues of $137.75 million. The corporate has topped consensus income estimates two occasions over the past 4 quarters.
The sustainability of the inventory’s speedy worth motion based mostly on the recently-released numbers and future earnings expectations will largely rely upon administration’s commentary on the earnings name.
Unbiased Financial institution Group shares have added about 24.1% because the starting of the yr versus the S&P 500’s achieve of 11.3%.
What’s Subsequent for Unbiased Financial institution Group?
Whereas Unbiased Financial institution Group has outperformed the market up to now this yr, the query that involves buyers’ minds is: what’s subsequent for the inventory?
There are not any simple solutions to this key query, however one dependable measure that may assist buyers handle that is the corporate’s earnings outlook. Not solely does this embody present consensus earnings expectations for the approaching quarter(s), but in addition how these expectations have modified these days.
Empirical analysis reveals a powerful correlation between near-term inventory actions and traits in earnings estimate revisions. Buyers can monitor such revisions by themselves or depend on a tried-and-tested ranking device just like the Zacks Rank, which has a formidable monitor document of harnessing the ability of earnings estimate revisions.
Forward of this earnings launch, the estimate revisions pattern for Unbiased Financial institution Group was favorable. Whereas the magnitude and route of estimate revisions might change following the corporate’s just-released earnings report, the present standing interprets right into a Zacks Rank #2 (Purchase) for the inventory. So, the shares are anticipated to outperform the market within the close to future. You possibly can see the whole listing of right now’s Zacks #1 Rank (Robust Purchase) shares right here.
It will likely be attention-grabbing to see how estimates for the approaching quarters and present fiscal yr change within the days forward. The present consensus EPS estimate is $1.31 on $150.03 million in revenues for the approaching quarter and $4.98 on $591.67 million in revenues for the present fiscal yr.
Buyers ought to be conscious of the truth that the outlook for the business can have a fabric impression on the efficiency of the inventory as properly. When it comes to the Zacks Business Rank, Banks – Southeast is at present within the prime 6% of the 250 plus Zacks industries. Our analysis reveals that the highest 50% of the Zacks-ranked industries outperform the underside 50% by an element of greater than 2 to 1.
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Unbiased Financial institution Group, Inc (IBTX): Free Inventory Evaluation Report
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