Compared to Estimates, Independent Bank Corp. (INDB) Q2 Earnings: A Look at Key Metrics
The reported revenue compares to the Zacks Consensus Estimate of $179.81 million, representing a surprise of +1.11%. The company delivered an EPS surprise of +4.17%, with the consensus EPS estimate being $1.20.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Independent Bank Corp. performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Efficiency Ratio: 59.8% versus the three-analyst average estimate of 59.6%.
Net interest margin (FTE): 3.4% compared to the 3.3% average estimate based on three analysts.
Average Balance - Total interest-earning assets: $17.67 billion versus $17.77 billion estimated by two analysts on average.
Total Non-Interest Income: $34.31 million versus the three-analyst average estimate of $32.97 million.
Increase in cash surrender value of life insurance policies: $2.04 million versus the two-analyst average estimate of $2.07 million.
Net Interest Income: $147.5 million versus $146.94 million estimated by two analysts on average.
Loan level derivative income: $0.07 million compared to the $0.87 million average estimate based on two analysts.
Interchange and ATM fees: $5 million versus the two-analyst average estimate of $4.76 million.
Deposit account fees: $7.14 million compared to the $6.76 million average estimate based on two analysts.
Other noninterest income: $5.96 million versus the two-analyst average estimate of $6.18 million.
Mortgage banking income: $1.07 million versus the two-analyst average estimate of $0.93 million.
Investment management: $11.38 million versus the two-analyst average estimate of $11.35 million.
View all Key Company Metrics for Independent Bank Corp. here>>>
Shares of Independent Bank Corp. have returned +4.8% over the past month versus the Zacks S&P 500 composite's +4.2% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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This article originally published on Zacks Investment Research (zacks.com).
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