Unlocking Q1 Potential of Independent Bank Corp. (INDB): Exploring Wall Street Estimates for Key Metrics

Analysts on Wall Street project that Independent Bank Corp. (INDB) will announce quarterly earnings of $1.18 per share in its forthcoming report, representing an increase of 5.4% year over year. Revenues are projected to reach $178.89 million, increasing 6.9% from the same quarter last year.Over the last 30 days, there has been a downward revision of 0.3% in the consensus EPS estimate for the quarter, leading to its current level. This signifies the covering analysts' collective reconsideration of their initial forecasts over the course of this timeframe.Before a company announces its earnings, it is essential to take into account any changes made to earnings estimates. This is a valuable factor in predicting the potential reactions of investors toward the stock. Empirical research has consistently shown a strong correlation between trends in earnings estimate revisions and the short-term price performance of a stock.While investors typically use consensus earnings and revenue estimates as a yardstick to evaluate the company's quarterly performance, scrutinizing analysts' projections for some of the company's key metrics can offer a more comprehensive perspective.That said, let's delve into the average estimates of some Independent Bank Corp. metrics that Wall Street analysts commonly model and monitor.The combined assessment of analysts suggests that 'Efficiency Ratio' will likely reach 59.7%. Compared to the present estimate, the company reported 59.7% in the same quarter last year.The collective assessment of analysts points to an estimated 'Net interest margin (FTE)' of 3.4%. Compared to the present estimate, the company reported 3.2% in the same quarter last year.According to the collective judgment of analysts, 'Average Balance - Total interest-earning assets' should come in at $17.39 billion. Compared to the current estimate, the company reported $17.24 billion in the same quarter of the previous year.The consensus among analysts is that 'Total Non-Interest Income' will reach $32.07 million. Compared to the present estimate, the company reported $29.94 million in the same quarter last year.The average prediction of analysts places 'Net Interest Income' at $146.47 million. The estimate compares to the year-ago value of $137.44 million.Analysts predict that the 'Interchange and ATM fees' will reach $4.87 million. The estimate is in contrast to the year-ago figure of $4.45 million.Analysts expect 'Deposit account fees' to come in at $6.75 million. The estimate is in contrast to the year-ago figure of $6.23 million.The consensus estimate for 'Other noninterest income' stands at $6.50 million. The estimate is in contrast to the year-ago figure of $6.26 million.Analysts' assessment points toward 'Investment management' reaching $10.59 million. Compared to the current estimate, the company reported $9.94 million in the same quarter of the previous year.View all Key Company Metrics for Independent Bank Corp. here>>>Shares of Independent Bank Corp. have demonstrated returns of -15.8% over the past month compared to the Zacks S&P 500 composite's -3.6% change. With a Zacks Rank #4 (Sell), INDB is expected to lag the overall market performance in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>5 Stocks Set to DoubleEach was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2024. While not all picks can be winners, previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%.Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Independent Bank Corp. (INDB): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks