Independent Bank Corp (Massachusetts) reports results for the quarter ended June 30 - Earnings Summary

• Independent Bank Corp (Massachusetts) INDB reported quarterly adjusted earnings of $1.25​​ per share for the quarter ended June 30, higher than the same quarter last year, when the company reported EPS of $1.21. The mean expectation of four analysts for the quarter was for earnings of $1.21 per share. Wall Street expected results to range from $1.15 to $1.27 per share.

• Revenue rose 6.8% to $181.80 million from a year ago; analysts expected $178.24 million.

• Independent Bank Corp (Massachusetts)'s reported EPS for the quarter was $1.20​.

• The company reported quarterly net income of $51.1 million.

• Independent Bank Corp (Massachusetts) shares had risen by 4.5% this quarter and gained 2.3% so far this year.

FORECAST CHANGES

• The mean earnings estimate of analysts had fallen by about 5.8% 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 "buy" and the breakdown of recommendations is 2 "strong buy" or "buy," 2 "hold" and no "sell" or "strong sell." The average consensus recommendation for the banks peer group is also "buy"

• Wall Street's median 12-month price target for Independent Bank Corp (Massachusetts) is $75.00, about 12.4% above its last closing price of $65.69

This summary was machine generated from LSEG data July 18 at 01:31 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)