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Compared to Estimates, Independent Bank Corp. (INDB) Q3 Earnings: A Look at Key Metrics
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Independent Bank Corp. (INDB - Free Report) 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 compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Independent Bank Corp. performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Efficiency Ratio: 57.3% compared to the 58.1% average estimate based on three analysts.
Net interest margin (FTE): 3.3% versus the three-analyst average estimate of 3.3%.
Average Balance - Total interest-earning assets: $17.29 billion compared to the $17.37 billion average estimate based on two analysts.
Total Non-Interest Income: $33.55 million versus the three-analyst average estimate of $32.26 million.
Increase in cash surrender value of life insurance policies: $2.01 million versus $2.01 million estimated by two analysts on average.
Net Interest Income: $141.70 million versus $141 million estimated by two analysts on average.
Loan level derivative income: $1.13 million versus $0.85 million estimated by two analysts on average.
Interchange and ATM fees: $4.97 million compared to the $4.83 million average estimate based on two analysts.
Deposit account fees: $6.78 million versus the two-analyst average estimate of $6.35 million.
Other noninterest income: $6.66 million compared to the $6.52 million average estimate based on two analysts.
Mortgage banking income: $0.97 million versus $0.95 million estimated by two analysts on average.
Investment management: $11.03 million versus the two-analyst average estimate of $10.75 million.
Shares of Independent Bank Corp. have returned +3.4% over the past month versus the Zacks S&P 500 composite's +3.8% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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Compared to Estimates, Independent Bank Corp. (INDB) Q3 Earnings: A Look at Key Metrics
Independent Bank Corp. (INDB - Free Report) 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 compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Independent Bank Corp. performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Efficiency Ratio: 57.3% compared to the 58.1% average estimate based on three analysts.
- Net interest margin (FTE): 3.3% versus the three-analyst average estimate of 3.3%.
- Average Balance - Total interest-earning assets: $17.29 billion compared to the $17.37 billion average estimate based on two analysts.
- Total Non-Interest Income: $33.55 million versus the three-analyst average estimate of $32.26 million.
- Increase in cash surrender value of life insurance policies: $2.01 million versus $2.01 million estimated by two analysts on average.
- Net Interest Income: $141.70 million versus $141 million estimated by two analysts on average.
- Loan level derivative income: $1.13 million versus $0.85 million estimated by two analysts on average.
- Interchange and ATM fees: $4.97 million compared to the $4.83 million average estimate based on two analysts.
- Deposit account fees: $6.78 million versus the two-analyst average estimate of $6.35 million.
- Other noninterest income: $6.66 million compared to the $6.52 million average estimate based on two analysts.
- Mortgage banking income: $0.97 million versus $0.95 million estimated by two analysts on average.
- Investment management: $11.03 million versus the two-analyst average estimate of $10.75 million.
View all Key Company Metrics for Independent Bank Corp. here>>>Shares of Independent Bank Corp. have returned +3.4% over the past month versus the Zacks S&P 500 composite's +3.8% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.