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Fly News Breaks for January 29, 2020
Jan 29, 2020 | 09:13 EDT
Stephens analyst Matt Olney upgraded Independent Bank (IBTX) to Overweight from Equal Weight with a price target of $61, down from $67. Independent shares have underperformed the BANK index by about 9% since the merger of equals Texas Capital (TCBI) deal announcement in early December, noted Olney, who believes the pullback captures the near-term integration risk. After deal closing, he expects the combined company to focus on a more optimized balance sheet that would limit earnings volatility and improve profitability, Olney noted.
News For IBTX;TCBI From the Last 2 Days
Apr 21, 2021 | 16:05 EDT
Reports Q1 book value per share $53.59. Reports Q1 CET1 capital ratio 10.2%. Reports Q1 net charge-offs .11%. "In my first 90 days as CEO, we have achieved momentum in establishing the foundation from which we can move forward," said Rob Holmes, president and CEO. "In the first quarter alone, we were able to execute the largest capital raise in our history and close on our first warehouse lending credit risk transfer transaction, both of which position TCBI for future growth. Looking ahead, we will continue to supplement our workforce with new talent, take steps to drive shareholder value and develop our fulsome long-term strategy. As promised, I look forward to sharing it with you in the third quarter."