Independent Bank Corp (Massachusetts) reports results for the quarter ended in December - Earnings Summary

Independent Bank (Massachusetts)

19/01/2024 14:31

* Independent Bank Corp (Massachusetts)  INDB.OQ  reported
quarterly adjusted earnings of $1.26​​ per share for the quarter
ended in December, lower than the same quarter last year, when
the company reported EPS of $1.69.  The mean expectation of
four analysts for the quarter was for earnings of $1.24 per
share. Wall Street expected results to range from $1.20 
to $1.29 per share.
    * Revenue fell 11.7% to $177.16 million from a year ago;
analysts
expected $177.34 million. 
    * Independent Bank Corp (Massachusetts)'s reported EPS for
the
quarter was $1.26​.
    * The company reported quarterly net income of $54.8
million.
    * Independent Bank Corp (Massachusetts) shares had fallen
by 7.3%
this quarter.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 0.2%
in the last three months.​ 
    * In the last 30 days, there have been no earnings estimate
revisions by analysts covering the company.

RECOMMENDATIONS
    * The current average analyst rating on the shares is "hold"
and
the breakdown of recommendations is no "strong buy" or "buy," 4
"hold" and no "sell" or "strong sell." 
    * Wall Street's median 12-month price target for Independent
Bank
Corp (Massachusetts) is $65.00 

This summary was machine generated from LSEG data January 19 at
02:30 p.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Dec. 31 2023      1.24           1.26           Beat
 Sep. 30 2023      1.33           1.38           Beat
 Jun. 30 2023      1.36           1.42           Beat
 Mar. 31 2023      1.54           1.36           Missed