Independent Bank Massachusetts Q3 adjusted EPS beats estimates

Independent Bank (Massachusetts)

15/10/2026 21:20

Overview
US commercial bank's Q3 adjusted EPS beat analyst expectations, net income rose quarter-over-quarter
Company's net interest income grew quarter-over-quarter, net interest margin improved
Company repurchased 679,000 shares for $57.4 mln in Q3

Outlook
Company did not provide specific guidance or outlook for future quarters

Result Drivers
HIGHER NET INTEREST INCOME - Co said growth in net interest income and improved net interest margin were driven by asset repricing and increased loan yields
DEPOSIT GROWTH - Co attributed deposit growth mainly to inflows from business and consumer accounts
LOAN GROWTH - Co said loan growth was supported by strong demand for home equity and residential mortgages

Company press release: ID:nBw4X7F4Sa

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q3 Adjusted EPS
Beat
$1.90
$1.84 (6 Analysts)
Q3 EPS
 
$1.90
 
Q3 Net Income
 
$89.75 mln
 
Q3 Net Interest Income
 
$220.66 mln
 
Q3 Net Interest Margin
 
3.89%
 

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 5 "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 $95.00, about 24.9% above its October 14 closing price of $76.04
The stock recently traded at 10 times the next 12-month earnings vs. a P/E of 11 three months ago

Reuters Recommended Reads
Oct 14 - US banks post solid third-quarter loan growth, but face more competition for deposits
Oct 14 - Home BancShares Q3 revenue rises on net interest income strength
Oct 14 - Equity Bancshares Q3 core EPS rises on loan growth, lifts dividend

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.)