Can Independent Bank Corp. (INDB) Run Higher on Rising Earnings Estimates?

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].