UPDATE 1-Independent Bank Group to buy Texas Capital Bancshares for about $3 bln [Reuters (UK)]
Independent Bank Group, Inc (IBTX)
Last independent bank group, inc earnings: 4/27 05:00 pm
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Source: Reuters
Independent Bank Group to buy Texas Capital Bancshares for about $3 billion - Reuters 2 Min Read (Reuters) - Independent Bank Group Inc ( IBTX.O ) said on Monday it would buy rival Texas Capital Bancshares Inc ( TCBI.O ) in an all-stock deal valued at about $3 billion, as the U.S. regional bank looks to diversify its customer base. The offer price of $61.10 per share represents a 5.5% premium to Texas Capital’s Friday close. The combined company, which will have about $48 billion in assets and $39 billion in deposits, will be led by David Brooks, chief executive officer of Independent Bank Group. Several U.S. banks are relying on acquisitions to offset the impact of falling interest rates and sluggish loan growth. The deal, which is expected to close in mid-2020, will add 26% to Independent Bank Group’s earnings per share and 14% to Texas Capital’s EPS by the first full year after the transaction closes, the companies said in a statement. The two companies are calling it a merger
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News
- Independent Bank Group, Inc. (NASDAQ: IBTX) had its price target lowered by analysts at Keefe, Bruyette & Woods from $55.00 to $46.00. They now have an "outperform" rating on the stock.MarketBeat
- Independent Bank Group First Quarter 2024 Earnings: Misses Expectations [Yahoo! Finance]Yahoo! Finance
- Independent Bank Group, Inc. (NASDAQ: IBTX) had its price target lowered by analysts at Truist Financial Co. from $52.00 to $46.00. They now have a "buy" rating on the stock.MarketBeat
- Independent Bank Group, Inc. (NASDAQ:IBTX) Q1 2024 Earnings Call Transcript [Yahoo! Finance]Yahoo! Finance
- Independent Bank Group, Inc. (NASDAQ: IBTX) had its price target lowered by analysts at Hovde Group from $53.00 to $46.00. They now have a "market perform" rating on the stock.MarketBeat
IBTX
Earnings
- 4/22/24 - Beat
IBTX
Sec Filings
- 4/26/24 - Form ARS
- 4/26/24 - Form DEF
- 4/23/24 - Form 10-Q
- IBTX's page on the SEC website