INDB Earnings Prediction
The chart below shows how INDB performed 10 days before and after its earnings report, based on data from the past quarters. Typically, INDB sees a -3.51% change in stock price 10 days leading up to the earnings, and a +0.87% change 10 days following the report. On the earnings day itself, the stock moves by -0.48%. This data can give you a slight idea of what to expect for the next quarter's release.
INDB Key Earning Data
2024/Q4
Year Over Year
Quarter Over Quarter
Total Revenue
166.38M
1.04%
1.40%
Gross Margin
--
--
--
Operating Margin
38.97%
-8.63%
16.89%
Net Margin
30.07%
-9.65%
14.86%
EPS
1.18
-6.35%
16.83%
No Data Available
INDB Earnings Analysis
Independent Bank Corp (Massachusetts) Corporation (INDB.O) Earnings Conference Call
Positive
Deposit Growth Rate: Average deposits grew at an approximate 3% annualized rate, indicating strong deposit growth.
Commercial Lending Surge: C&I loan production of approximately $785 million was up 28% in 2024, representing a significant increase in commercial lending activity.
Tangible Book Value Increase: Tangible book value per share increased by $2.83 for the full calendar year, reflecting solid earnings retention despite share buybacks.
Wealth Management Asset Growth: Wealth management business grew assets under administration (AUA) by 7.6% in 2024 to $7 billion, showcasing strong performance in this segment.
Cost of Deposits Management: The cost of deposits was 1.65%, highlighting the immense value of the deposit franchise and effective cost management.
Negative
Nonperforming Loans Stability: Total nonperforming loans remained stable at $101.5 million, representing 0.70% of total loans, indicating ongoing credit quality concerns.
Loan Loss Provision Increase: The provision for loan loss increased by $7.5 million in the fourth quarter, raising the allowance as a percentage of loans to 1.17%, reflecting heightened risk in the loan portfolio.
Noninterest Income Decline: Noninterest income decreased in the fourth quarter, primarily due to reduced loan-level derivative swap income and unrealized losses on equity securities, signaling potential revenue challenges.
Rising Operational Costs: Total expenses increased during the quarter, impacted by nonrecurring items including $550,000 for lease termination and $1.9 million in merger-related expenses, indicating rising operational costs.
Core System Upgrade Expenses: The anticipated one-time expenses related to the core system upgrade are expected to be around $3 million in 2025, adding to the financial burden during the integration period.
INDB FAQs
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INDB Earning Call Sentiment
Independent Bank Corp. (INDB) Q4 2024 Earnings Call Transcript
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00:00
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INDB.O
-0.87%Positive
The earnings call summary shows mixed signals. Financial performance is strong, with increased EPS and net income, but challenges exist in wealth management outflows and interest rate risks. The Q&A reveals cautious optimism about loan demand and unresolved issues with delinquencies. Share buybacks and record AUA growth are positives, yet the market cap suggests moderate reactions. Overall, the sentiment is balanced between positive financial results and market risks, leading to a neutral stock price prediction.
