In its upcoming report, Independent Bank Corp. (INDB) is predicted by Wall Street analysts to post quarterly earnings of $1.84 per share, reflecting an increase of 18.7% compared to the same period last year. Revenues are forecasted to be $258.66 million, representing a year-over-year increase of 6.1%.
The consensus EPS estimate for the quarter has been revised 0.2% higher 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.
Prior to a company's earnings release, it is of utmost importance to factor in any revisions made to the earnings projections. These revisions serve as a critical gauge for predicting potential investor behaviors with respect to the stock. Empirical studies consistently reveal a strong link between trends in earnings estimate revisions and the short-term price performance 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.
That said, let's delve into the average estimates of some Independent Bank Corp. metrics that Wall Street analysts commonly model and monitor.
Analysts expect 'Efficiency Ratio' to come in at 53.7%. The estimate is in contrast to the year-ago figure of 66.0%.
Analysts predict that the 'Net interest margin (FTE)' will reach 3.9%. The estimate compares to the year-ago value of 3.6%.
The collective assessment of analysts points to an estimated 'Average Balance - Total interest-earning assets' of $22.51 billion. The estimate compares to the year-ago value of $22.43 billion.
Analysts forecast 'Total Non-Interest Income' to reach $42.01 million. Compared to the current estimate, the company reported $40.40 million in the same quarter of the previous year.
Based on the collective assessment of analysts, 'Net Interest Income' should arrive at $217.66 million. The estimate is in contrast to the year-ago figure of $203.34 million.
The consensus among analysts is that 'Interchange and ATM fees' will reach $5.72 million. Compared to the current estimate, the company reported $5.99 million in the same quarter of the previous year.
The average prediction of analysts places 'Deposit account fees' at $9.39 million. Compared to the current estimate, the company reported $8.85 million in the same quarter of the previous year.
According to the collective judgment of analysts, 'Other noninterest income' should come in at $6.81 million. The estimate compares to the year-ago value of $6.61 million.
The combined assessment of analysts suggests that 'Net Interest Income (FTE)' will likely reach $219.19 million. Compared to the current estimate, the company reported $204.73 million in the same quarter of the previous year.
The consensus estimate for 'Investment management and advisory' stands at $14.76 million. The estimate is in contrast to the year-ago figure of $13.65 million.
View all Key Company Metrics for Independent Bank Corp. here>>>Shares of Independent Bank Corp. have experienced a change of -6.9% in the past month compared to the +2.4% move of the Zacks S&P 500 composite. With a Zacks Rank #3 (Hold), INDB is expected to mirror the overall market performance in the near future. 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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