Independent Bank Massachusetts Q1 adjusted EPS beats estimates

Independent Bank (Massachusetts)

16/04/2026 21:36

Overview

US commercial bank's Q1 adjusted EPS beat analyst expectations

Net interest margin improved to 3.90% from 3.77% in prior quarter

Company repurchased $63.3 mln in shares during Q1

Outlook

Company did not provide specific guidance for the current or future periods

Result Drivers

NET INTEREST MARGIN - Co said Q1 net interest margin rose due to fixed rate asset repricing, lower deposit costs, and higher purchase accounting accretion

NONINTEREST EXPENSES - Co said Q1 noninterest expense fell, mainly due to lower merger and acquisition costs and reduced salaries and benefits

LOAN AND DEPOSIT DECLINES - Co said loan balances fell due to elevated payoffs and lower seasonal residential real estate volume; deposits decreased slightly due to seasonality in business operating balances

Company press release: ID:nBwCRr3Va

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Adjusted EPS
Beat
$1.68
$1.65 (6 Analysts)
Q1 EPS
$1.63
Q1 Net Income
$79.92 mln
Q1 Net Interest Income
$212.46 mln
Q1 Net Interest Margin
3.90%


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 4 "strong buy" or "buy", 1 "hold" and 1 "sell" or "strong sell"

The average consensus recommendation for the banks peer group is "buy"

Wall Street's median 12-month price target for Independent Bank Corp (Massachusetts) is $91.00, about 14.6% above its April 15 closing price of $79.43

The stock recently traded at 11 times the next 12-month earnings vs. a P/E of 10 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)