Independent Bank Corp (Massachusetts) reports results for the quarter ended March 31 - Earnings Summary

Independent Bank (Massachusetts)

17/04/2025 22:00

Independent Bank Corp (Massachusetts) INDB.OQ reported quarterly adjusted earnings of $1.06​​ per share for the quarter ended March 31, lower than the same quarter last year, when the company reported EPS of $1.12.  The mean expectation of four analysts for the quarter was for earnings of $1.16 per share. Wall Street expected results to range from $1.11  to $1.20 per share.

Revenue rose 6.4% to $178.04 million from a year ago; analysts expected $175.04 million.

Independent Bank Corp (Massachusetts)'s reported EPS for the quarter was $1.04​.

The company reported quarterly net income of $44.42 million.

Independent Bank Corp (Massachusetts) shares had fallen by 11.6% this quarter and lost 13.8% so far this year.

FORECAST CHANGES

The mean earnings estimate of analysts had fallen by about 1.1% in the last three months.​

In the last 30 days, one analyst negatively revised an earnings estimate

RECOMMENDATIONS

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 2 "strong buy" or "buy," 2 "hold" and no "sell" or "strong sell." The average consensus recommendation for the banks peer group is also "buy"

Wall Street's median 12-month price target for Independent Bank Corp (Massachusetts) is $79.00

This summary was machine generated from LSEG data April 17 at 09:00 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
Mar. 31 2025
1.16
1.06
Missed
Dec. 31 2024
1.16
1.21
Beat
Sep. 30 2024
1.06
1.01
Missed
Jun. 30 2024
1.12
1.21
Beat