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

Independent Bank (Massachusetts)

21/07/2023 14:33

* Independent Bank Corp (Massachusetts)  INDB.OQ  reported
quarterly adjusted earnings of $1.42​​ per share for the quarter
ended in June. The mean expectation of three analysts for the
quarter was for earnings of $1.36 per share.
    * Revenue rose 6.1% to $183.30 million from a year ago;
analysts
expected $182.85 million. 
    * Independent Bank Corp (Massachusetts)'s reported EPS for
the
quarter was $1.42​.
    * The mean earnings estimate of analysts had fallen by
about 6.9%
in the last three months.​ 
    * In the last 30 days, one analyst negatively revised an
earnings
estimate 
    * Independent Bank Corp (Massachusetts) shares had risen
by 20.0%
this quarter and lost 36.7% so far this year.
    * The company reported quarterly net income of $62.64
million.
    * Wall Street's median 12-month price target for Independent
Bank
Corp (Massachusetts) is $58.00 
    * The current average analyst rating on the shares is "hold"
and
the breakdown of recommendations is no "strong buy" or "buy," 3
"hold" and no "sell" or "strong sell." 

This summary was machine generated from LSEG Refinitiv data July
21 at 01:33 p.m. UTC. ​All figures in US dollars unless
otherwise stated. QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Jun. 30 2023      1.36           1.42           Beat
 Mar. 31 2023      1.54           1.36           Missed
 Dec. 31 2022      1.65           1.69           Beat
 Sep. 30 2022      1.42           1.57           Beat