Independent Bank Corp. (INDB) reported $175.25 million in revenue for the quarter ended September 2024, representing a year-over-year decline of 4.5%. EPS of $1.01 for the same period compares to $1.38 a year ago. The reported revenue compares to the Zacks Consensus Estimate of $173.24 million, representing a surprise of +1.16%. The company delivered an EPS surprise of +2.02%, with the consensus EPS estimate being $0.99. While investors scrutinize revenue and earnings changes year-over-year and how they com ...

Independent Bank Corp. (INDB) came out with quarterly earnings of $1.01 per share, beating the Zacks Consensus Estimate of $0.99 per share. This compares to earnings of $1.38 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 2.02%. A quarter ago, it was expected that this holding company for Rockland Trust would post earnings of $1.11 per share when it actually produced earnings of $1.21, delivering a surprise of 9.01%. Over th ...

Independent Bank Corp. (INDB) appears an attractive pick, as it has been recently upgraded to a Zacks Rank #1 (Strong Buy). This upgrade is essentially a reflection of an upward trend in earnings estimates -- one of the most powerful forces impacting stock prices. The Zacks rating relies solely on a company's changing earnings picture. It tracks EPS estimates for the current and following years from the sell-side analysts covering the stock through a consensus measure -- the Zacks Consensus Estimate. Indivi ...

Core Viewpoint - The upward trend in earnings estimate revisions for Independent Bank Corp. indicates growing optimism among analysts regarding its earnings prospects, which is expected to positively impact its stock price [1]. Earnings Estimates - Over the last 30 days, the Zacks Consensus Estimate for Independent Bank Corp. has increased by 9.09%, with three estimates moving higher and no negative revisions [3]. - The company is projected to earn $4.75 per share for the full year, reflecting a year-over-year decline of 12.36% [4]. - For the current quarter, the expected earnings per share is $1.20, which represents a year-over-year decrease of 13.04% [9]. - The consensus estimate for the current year has increased by 6.5% due to three upward revisions and no negative revisions [10]. Stock Performance - Independent Bank Corp. has experienced a 32% gain in stock price over the past four weeks, driven by solid estimate revisions and positive earnings growth prospects [6]. - The company currently holds a Zacks Rank 1 (Strong Buy), indicating strong investor interest and confidence in its earnings outlook [11]. Analyst Consensus - There is strong agreement among analysts in raising earnings estimates for Independent Bank Corp., contributing to a significant increase in consensus estimates for both the next quarter and the full year [8].

Company Performance - Independent Bank Corp. reported quarterly earnings of $1.21 per share, exceeding the Zacks Consensus Estimate of $1.11 per share, but down from $1.42 per share a year ago [8] - The company posted revenues of $170.26 million for the quarter ended June 2024, surpassing the Zacks Consensus Estimate by 0.70%, but down from $183.3 million year-over-year [2] - The current consensus EPS estimate for the upcoming quarter is $1.10 on revenues of $170.38 million, and for the current fiscal year, it is $4.46 on revenues of $679.08 million [5] Market Comparison - Independent Bank Corp. shares have declined approximately 11.9% since the beginning of the year, while the S&P 500 has gained 17.2% [3] - The company has outperformed consensus EPS estimates three times over the last four quarters [9] Earnings Outlook - The estimate revisions trend for Independent Bank Corp. is mixed, resulting in a Zacks Rank 3 (Hold), indicating expected performance in line with the market [12] - The sustainability of the stock's price movement will depend on management's commentary during the earnings call [10] Industry Context - The Banks - Northeast industry, to which Independent Bank Corp. belongs, is currently in the bottom 41% of over 250 Zacks industries, suggesting potential challenges ahead [13] - Midland States Bancorp, another company in the same industry, is expected to report revenues of $74.9 million, down 3.5% from the year-ago quarter [7]

APPENDIX B: Non-GAAP Reconciliation of Earnings Metrics (Unaudited, dollars in thousands) The following table summarizes the calculation of the Company's return on average tangible common equity for the periods indicated: | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | |-----------------------------------------------------------------------------------------------------------------|-------|-------------------------|-----------|-------------------------------------------|-------|--------- ...

Morsa Images With a market capitalization as of this writing of $2.25 billion, Independent Bank (NASDAQ:INDB) is not exactly a small bank. But it's certainly not a large one either. Over the past couple of years, the company has posted some mixed results. Those mixed results have extended into the 2024 fiscal year. Admittedly, the past couple of years have been difficult for the banking sector, driven in part by a banking crisis that began in March of 2023. In addition to this, economic conditions have crea ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ___________________________________________________ ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 1-9047 Independent Bank Corp. (Exact name of registrant as specified in ...

For the quarter ended March 2024, Independent Bank Corp. (INDB) reported revenue of $167.38 million, down 10.6% over the same period last year. EPS came in at $1.12, compared to $1.36 in the year-ago quarter.The reported revenue compares to the Zacks Consensus Estimate of $171.8 million, representing a surprise of -2.57%. The company delivered an EPS surprise of -2.61%, with the consensus EPS estimate being $1.15.While investors closely watch year-over-year changes in headline numbers -- revenue and earning ...

Independent Bank Corp. (INDB) came out with quarterly earnings of $1.12 per share, missing the Zacks Consensus Estimate of $1.15 per share. This compares to earnings of $1.36 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -2.61%. A quarter ago, it was expected that this holding company for Rockland Trust would post earnings of $1.25 per share when it actually produced earnings of $1.26, delivering a surprise of 0.80%.Over the ...