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

Independent Bank (Massachusetts)

20/04/2023 22:01

* Independent Bank Corp (Massachusetts)  INDB.OQ  reported
quarterly adjusted earnings of $1.36​​ per share for the quarter
ended in March. The mean expectation of four analysts for the
quarter was for earnings of $1.54 per share.
    * Revenue rose 8.2% to $177.07 million from a year ago;
analysts
expected $192.73 million. 
    * Independent Bank Corp (Massachusetts)'s reported EPS for
the
quarter was $1.36​.
    * The mean earnings estimate of analysts had fallen by
about 5.5%
in the last three months.​ 
    * In the last 30 days, two analysts negatively revised
earnings
estimates 
    * Independent Bank Corp (Massachusetts) shares had fallen
by 5.0%
this quarter and lost 26.2% so far this year.
    * The company reported quarterly net income of $61.25
million.
    * Wall Street's median 12-month price target for Independent
Bank
Corp (Massachusetts) is $80.00 
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 1 "strong buy" or "buy," 3
"hold" and no "sell" or "strong sell." 

This summary was machine generated from LSEG Refinitiv data
April 20 at 09:01 p.m. UTC. ​All figures in US dollars unless
otherwise stated. QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Mar. 31 2023      1.54           1.36           Missed
 Dec. 31 2022      1.65           1.69           Beat
 Sep. 30 2022      1.42           1.57           Beat
 Jun. 30 2022      1.26           1.32           Beat