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Independent Bank Corp. (INDB) Q4 Earnings: Taking a Look at Key Metrics Versus Estimates
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Independent Bank Corp. (INDB - Free Report) reported $176.85 million in revenue for the quarter ended December 2024, representing a year-over-year decline of 0.2%. EPS of $1.21 for the same period compares to $1.26 a year ago.
The reported revenue represents a surprise of +0.59% over the Zacks Consensus Estimate of $175.82 million. With the consensus EPS estimate being $1.16, the EPS surprise was +4.31%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
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: 60.2% versus 58% estimated by three analysts on average.
Net interest margin (FTE): 3.3% versus the three-analyst average estimate of 3.3%.
Average Balance - Total interest-earning assets: $17.42 billion compared to the $17.37 billion average estimate based on two analysts.
Total Non-Interest Income: $32.19 million compared to the $33.16 million average estimate based on three analysts.
Increase in cash surrender value of life insurance policies: $2.15 million versus the two-analyst average estimate of $2.04 million.
Net Interest Income: $144.66 million compared to the $142.43 million average estimate based on two analysts.
Loan level derivative income: $0.44 million versus $0.90 million estimated by two analysts on average.
Interchange and ATM fees: $4.88 million compared to the $4.94 million average estimate based on two analysts.
Deposit account fees: $7.12 million versus $6.55 million estimated by two analysts on average.
Other noninterest income: $5.57 million versus $6.67 million estimated by two analysts on average.
Mortgage banking income: $1.06 million versus the two-analyst average estimate of $0.83 million.
Investment management: $10.78 million versus $11.07 million estimated by two analysts on average.
Shares of Independent Bank Corp. have returned -1.4% over the past month versus the Zacks S&P 500 composite's -1.6% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.
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Independent Bank Corp. (INDB) Q4 Earnings: Taking a Look at Key Metrics Versus Estimates
Independent Bank Corp. (INDB - Free Report) reported $176.85 million in revenue for the quarter ended December 2024, representing a year-over-year decline of 0.2%. EPS of $1.21 for the same period compares to $1.26 a year ago.
The reported revenue represents a surprise of +0.59% over the Zacks Consensus Estimate of $175.82 million. With the consensus EPS estimate being $1.16, the EPS surprise was +4.31%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
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: 60.2% versus 58% estimated by three analysts on average.
- Net interest margin (FTE): 3.3% versus the three-analyst average estimate of 3.3%.
- Average Balance - Total interest-earning assets: $17.42 billion compared to the $17.37 billion average estimate based on two analysts.
- Total Non-Interest Income: $32.19 million compared to the $33.16 million average estimate based on three analysts.
- Increase in cash surrender value of life insurance policies: $2.15 million versus the two-analyst average estimate of $2.04 million.
- Net Interest Income: $144.66 million compared to the $142.43 million average estimate based on two analysts.
- Loan level derivative income: $0.44 million versus $0.90 million estimated by two analysts on average.
- Interchange and ATM fees: $4.88 million compared to the $4.94 million average estimate based on two analysts.
- Deposit account fees: $7.12 million versus $6.55 million estimated by two analysts on average.
- Other noninterest income: $5.57 million versus $6.67 million estimated by two analysts on average.
- Mortgage banking income: $1.06 million versus the two-analyst average estimate of $0.83 million.
- Investment management: $10.78 million versus $11.07 million estimated by two analysts on average.
View all Key Company Metrics for Independent Bank Corp. here>>>Shares of Independent Bank Corp. have returned -1.4% over the past month versus the Zacks S&P 500 composite's -1.6% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.