In its upcoming report, Independent Bank Corp. (INDB) is predicted by Wall Street analysts to post quarterly earnings of $1.77 per share, reflecting an increase of 41.6% compared to the same period last year. Revenues are forecasted to be $257.73 million, representing a year-over-year increase of 41.8%.
The consensus EPS estimate for the quarter has been revised 0.9% lower over the last 30 days to the current level. This reflects how the analysts covering the stock have collectively reevaluated their initial estimates during this timeframe.
Before a company reveals its earnings, it is vital to take into account any changes in earnings projections. These revisions play a pivotal role in predicting the possible reactions of investors toward the stock. Multiple empirical studies have consistently shown a strong association between trends in earnings estimates and the short-term price movements of a stock.
While investors usually depend on consensus earnings and revenue estimates to assess the business performance for the quarter, delving into analysts' forecasts for certain key metrics often provides a more comprehensive understanding.
Given this perspective, it's time to examine the average forecasts of specific Independent Bank Corp. metrics that are routinely monitored and predicted by Wall Street analysts.
The consensus estimate for 'Efficiency Ratio' stands at 53.8%. The estimate is in contrast to the year-ago figure of 59.8%.
The combined assessment of analysts suggests that 'Net interest margin (FTE)' will likely reach 3.9%. The estimate compares to the year-ago value of 3.4%.
Based on the collective assessment of analysts, 'Average Balance - Total interest-earning assets' should arrive at $22.24 billion. Compared to the current estimate, the company reported $17.67 billion in the same quarter of the previous year.
Analysts' assessment points toward 'Total Non-Interest Income' reaching $41.29 million. Compared to the current estimate, the company reported $34.31 million in the same quarter of the previous year.
The collective assessment of analysts points to an estimated 'FTE adjusted Net Interest Income' of $216.37 million. Compared to the present estimate, the company reported $148.67 million in the same quarter last year.
The average prediction of analysts places 'Net Interest Income' at $216.54 million. The estimate compares to the year-ago value of $147.50 million.
Analysts forecast 'Interchange and ATM fees' to reach $5.46 million. Compared to the present estimate, the company reported $5.00 million in the same quarter last year.
According to the collective judgment of analysts, 'Deposit account fees' should come in at $9.30 million. Compared to the current estimate, the company reported $7.14 million in the same quarter of the previous year.
Analysts predict that the 'Other noninterest income' will reach $7.25 million. The estimate is in contrast to the year-ago figure of $5.96 million.
The consensus among analysts is that 'Investment management and advisory' will reach $14.28 million. Compared to the current estimate, the company reported $11.38 million in the same quarter of the previous year.
View all Key Company Metrics for Independent Bank Corp. here>>>Over the past month, Independent Bank Corp. shares have recorded returns of +0.5% versus the Zacks S&P 500 composite's +4.3% change. Based on its Zacks Rank #3 (Hold), INDB will likely exhibit a performance that aligns with the overall market in the upcoming period. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
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Independent Bank Corp. (INDB): Free Stock Analysis Report
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