Regional banking company Independent Bank (NASDAQ: INDB) will be reporting earnings this Thursday after market close. Here’s what investors should know.
Independent Bank missed analysts’ revenue expectations last quarter, reporting revenues of $253.1 million, up 40.5% year on year. It was a disappointing quarter for the company, with a significant miss of analysts’ net interest income estimates and a significant miss of analysts’ EPS estimates.
Is Independent Bank a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Independent Bank’s revenue to grow 6.8% year on year, slowing from the 39.1% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Independent Bank rarely misses Wall Street’s revenue estimates.
Looking at Independent Bank’s peers in the banks segment, some have already reported their Q3 results, giving us a hint as to what we can expect. FB Financial posted flat year-on-year revenue, missing analysts’ expectations by 2.8%, and Citigroup reported revenues up 7.9%, topping estimates by 0.6%.
Read our full analysis of FB Financial’s results here and Citigroup’s results here.
Over the last year or so, investors' attention has moved from one major market theme to the next, spanning AI disruption and surging infrastructure investment to geopolitical tensions, interest rates, and the health of the broader economy. While some of the banks stocks have shown solid performance in this choppy environment, the group has generally underperformed, with share prices down 7.5% on average over the last month. Independent Bank is down 8% during the same time and is heading into earnings with an average analyst price target of $93.43 (compared to the current share price of $76.78).
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