Independent Bank (US:IBTX) ZACKS·2024-10-21 23:15Group 1: Earnings Performance - Independent Bank Group (IBTX) reported quarterly earnings of $0.50 per share, missing the Zacks Consensus Estimate of $0.71 per share, and down from $0.79 per share a year ago, representing an earnings surprise of -29.58% [1] - The company posted revenues of $120.3 million for the quarter ended September 2024, missing the Zacks Consensus Estimate by 3.36%, and down from $122.7 million year-over-year [1] Group 2: Stock Performance and Outlook - Independent Bank Group shares have increased by approximately 19.1% since the beginning of the year, compared to the S&P 500's gain of 23% [2] - The current consensus EPS estimate for the upcoming quarter is $0.78 on revenues of $130.6 million, and for the current fiscal year, it is $2.77 on revenues of $490.13 million [4] Group 3: Industry Context - The Zacks Industry Rank for Banks - Southeast is currently in the bottom 36% of over 250 Zacks industries, indicating potential challenges for stock performance [5] - Another company in the same industry, Trustmark (TRMK), is expected to report quarterly earnings of $0.83 per share, reflecting a year-over-year change of +29.7%, with revenues anticipated to be $191.5 million, down 1.4% from the previous year [5]