* Independent Bank Corp (Massachusetts) reported quarterly adjusted earnings of $1.21 per share for the quarter ended in June, lower than the same quarter last year, when the company reported EPS of $1.42. The mean expectation of four analysts for the quarter was for earnings of $1.12 per share. Wall Street expected results to range from $1.07 to $1.17 per share.
* Revenue fell 7.1% to $170.26 million from a year ago; analysts expected $168.62 million.
* Independent Bank Corp (Massachusetts)'s reported EPS for the quarter was $1.21.
* The company reported quarterly net income of $51.33 million.
* Independent Bank Corp (Massachusetts) shares had risen by 14.4% this quarter and lost 11.9% so far this year.
FORECAST CHANGES
* The mean earnings estimate of analysts had fallen by about 4.4% in the last three months.
* In the last 30 days, there have been no earnings estimate revisions by analysts covering the company.
RECOMMENDATIONS
* The current average analyst rating on the shares is "hold" and the breakdown of recommendations is no "strong buy" or "buy," 4 "hold" and no "sell" or "strong sell."
* The average consensus recommendation for the banks peer group is also "hold"
Wall Street's median 12-month price target for Independent Bank Corp (Massachusetts) is $57.50 This summary was machine generated from LSEG data July 18 at 09:51 p.m. UTC. All figures in US dollars unless otherwise stated. (For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING ESTIMATE ACTUAL BEAT, MET,
MISSED
Jun. 30 2024 1.12 1.21 Beat
Mar. 31 2024 1.12
Dec. 31 2023 1.24 1.26 Beat
Sep. 30 2023 1.33 1.38 Beat
Comments