The companies have entered into a Mutual Termination Agreement which was approved by the Boards of Directors of both companies. The termination is in response to the extreme and unpredictable economic conditions resulting from the global health crisis caused by the coronavirus (COVID-19) pandemic.

Independent Bank Group (IBTX) delivered earnings and revenue surprises of -0.98% and -2.10%, respectively, for the quarter ended March 2020. Do the numbers hold clues to what lies ahead for the stock?

New Strong Buy Stocks for January 30th

DALLAS and McKINNEY, TX / ACCESSWIRE / February 3, 2020 / Texas Capital Bancshares, Inc. (TCBI) ("Texas Capital"), the parent company of Texas Capital Bank, and Independent Bank Group, Inc. (NASDAQ:IBTX) ...

Texas Capital's (TCBI) all-stock merger of equals with Independent Bank Group (IBTX) mutually terminated on approval of the boards of both companies.

McKINNEY, TX / ACCESSWIRE / April 6, 2020 / Independent Bank Group, Inc. (NASDAQ:IBTX), the holding company for Independent Bank, will hold a conference call to discuss 2020 first quarter results on Tuesday, ...

Leaders from Independent Financial, Frost Bank and the Texas Bankers Association discuss the first round of the PPP, potential changes they may make if there's a second and more.

Texas Capital Bancshares, Inc. (TCBI), the parent company of Texas Capital Bank, N.A., today announced that Texas Capital Bancshares, Inc. and Independent Bank Group, Inc. (IBTX), the holding company for Independent Bank, have mutually agreed to terminate their merger agreement, previously announced on December 9, 2019, under which the companies had agreed to combine in an all-stock merger of equals. “Due to the unprecedented impact of the COVID-19 pandemic, both companies’ boards of directors believe it is in the best interests of our employees, clients and all of our shareholders to focus on managing our business during this time,” said Larry Helm, Chairman, Texas Capital Bancshares.

MCKINNEY, TX / ACCESSWIRE / April 29, 2020 / Independent Bank Group, Inc. (NASDAQ:IBTX), the holding company for Independent Bank, announced that its Board of Directors has declared a quarterly cash dividend ...

Image source: The Motley Fool. Independent Bank Group (NASDAQ: IBTX)Q1 2020 Earnings CallApr 28, 2020, 8:30 a.m. ETContents: Prepared Remarks Questions and Answers Call Participants Prepared Remarks: Paul Langdale Good morning everyone.

Texas Capital Bancshares (TCBI) and Independent Bank (IBCP) have mutually agreed to terminate their merger agreement, previously announced on December 9, under which the parties had agreed to combine in an all-stock merger of equals.The companies have now entered into a Mutual Termination Agreement which was approved by the board of directors of both companies. Neither party will pay any termination fee. On the news Piper Sandler analyst Brad Milsaps downgraded TCBI from buy to hold, while slashing his price target from $41 to $26 (9% downside potential).David Brooks, CEO of Independent Bank Group (IBTX), said, “While both companies believed in the benefits of the proposed transaction when it was announced, we mutually concluded after careful consideration that, given the significant uncertainty caused by the COVID-19 pandemic and the resulting economic and market environment, it would not be prudent to continue to pursue the combination and integration of our companies at this time.”He added that the decision will allow each company to dedicate its focus and resources toward ensuring the strength of its business during these unprecedented times.Following the termination of the merger, Texas Capital also announced that C. Keith Cargill has stepped down as President and CEO and a member of the Board of Directors, effective immediately. However Cargill, who became CEO in 2014, will remain as Vice Chairman until the end of 2020.Larry L. Helm, who has served as Chairman of the Texas Capital Bancshares Board since 2012, will serve as Executive Chair, CEO and President until a permanent successor has been named, the company said.In addition, James H. Browning, an independent director and member of the Texas Capital Bancshares Board since 2009, has been appointed Lead Director.Elysia Ragusa, of Texas Capital, commented, “As part of our focus on succession planning, the Board believes that it is the right time for a transition in leadership as the Company executes a strategy to achieve enhanced operational focus and profitable, long-term value creation.”Shares in TCBI have plunged 50% year-to-date. Notably all seven analysts covering the stock rate it Hold, while the average analyst price target of $27 indicates a further 7% downside potential lies ahead. (See TCBI stock analysis on TipRanks).Related News: New HBO Max Streaming Service Will Go Live on Wednesday Alibaba Scores Earnings Beat With Revenue Surging 22% Y/Y Facebook Workplace Hits 5 Million Paid Users As Remote Work Demand Rises More recent articles from Smarter Analyst: * HBO Max Launches, But Not Yet Available on Amazon, Roku Platforms * Apple Snaps Up AI Startup Inductiv, As Analysts Boost PTs On Store Reopenings * Microsoft Seeks $2B Stake In India’s Jio Platforms- Report * Boeing Cuts 6,770 Jobs In U.S.; CFRA Upgrades Stock To Buy

Moody's Investors Service (Moody's) said that Texas Capital Bancshares, Inc.'s (long-term issuer rating Baa3 negative) termination of its merger agreement with Independent Bank Group, Inc. as a result of the coronavirus pandemic is credit positive. The merger termination removes these additional risks, which is credit positive for Texas Capital but it has no immediate implications for its ratings and outlook, which remains negative.

Independent Bank Group (IBTX) is seeing favorable earnings estimate revision activity and has a positive Zacks Earnings ESP heading into earnings season

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Announcement of Periodic Review: Moody's announces completion of a periodic review of ratings of Texas Capital Bancshares, Inc. New York, February 27, 2020 -- Moody's Investors Service ("Moody's") has completed a periodic review of the ratings of Texas Capital Bancshares, Inc. and other ratings that are associated with the same analytical unit. The review was conducted through a portfolio review in which Moody's reassessed the appropriateness of the ratings in the context of the relevant principal methodology(ies), recent developments, and a comparison of the financial and operating profile to similarly rated peers.

Banks heavily exposed to oil and gas saw massive declines on Monday as the coronavirus fears were compounded by tumbling oil prices.

Q1 2020 Independent Bank Group Inc Earnings Call

McKINNEY, TX / ACCESSWIRE / April 27, 2020 / Independent Bank Group, Inc. (NASDAQ:IBTX), the holding company for Independent Bank, today provided an update on its business and operations in light of the ...

Coronavirus is probably the 1 concern in investors' minds right now. It should be. On February 27th we published an article with the title Recession is Imminent: We Need A Travel Ban NOW. We predicted that a US recession is imminent and US stocks will go down by at least 20% in the next 3-6 […]

Q4 2019 Independent Bank Group Inc Earnings Call