IBTX - Independent Bank Group: Holding The Line For Now
2024-02-24 12:12:06 ET
Summary
- Independent Bank Group's stock has not performed great as of late, with only a 6.7% increase compared to the S&P 500's 12.7% increase since I last wrote about it.
- The bank has seen improvements in deposits, loans, and cash on hand, but revenue and profits have dropped.
- The price to earnings and price to tangible book multiples are higher than desired, making the stock a mediocre opportunity.
Over the past year I have found a number of interesting players in the banking sector. Some of these have been enterprises that I became very bullish on that went on to achieve some rather meaningful upside. Other opportunities have fallen short of expectations. Others, still, were firms that I did not have high hopes for and that went on to achieve the mediocre results I anticipated. In this final category one firm that I could point to as an example is Independent Bank Group ( IBTX )....
Independent Bank Group: Holding The Line For Now