Independent Bank Gr Q4 Adj EPS $0.62 Misses $0.67 Estimate, Sales $118.67M Miss $123.83M Estimate
Portfolio Pulse from Benzinga Newsdesk
Independent Bank Gr (NASDAQ:IBTX) reported Q4 adjusted EPS of $0.62, missing the consensus estimate of $0.67 by 7.46%, and a 48.33% decrease from $1.20 per share a year ago. Sales were $118.67M, missing estimates by 4.16% and down 22.69% from $153.50M in the same quarter last year.
January 22, 2024 | 10:11 pm
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NEGATIVE IMPACT
Independent Bank Gr reported lower-than-expected Q4 earnings and sales, with a significant decrease compared to last year's figures.
Missing both earnings and sales estimates, especially with such a notable year-over-year decline, is likely to negatively impact investor sentiment and could lead to a short-term decrease in stock price.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100