Independent Bank Past Earnings Performance
Past criteria checks 2/6
Independent Bank has been growing earnings at an average annual rate of 13.1%, while the Banks industry saw earnings growing at 7% annually. Revenues have been growing at an average rate of 11.1% per year. Independent Bank's return on equity is 6.6%, and it has net margins of 30%.
Key information
13.1%
Earnings growth rate
4.8%
EPS growth rate
| Banks Industry Growth | 11.2% |
| Revenue growth rate | 11.1% |
| Return on equity | 6.6% |
| Net Margin | 30.0% |
| Last Earnings Update | 30 Sep 2024 |
Recent past performance updates
Recent updates
Independent Bank: Time For A Downgrade After A Monumental Rally
Sep 15Independent Bank: Just Worth Considering
May 31Independent Bank (NASDAQ:INDB) Is Increasing Its Dividend To $0.57
Mar 25
Independent Bank: High LTD Ratio Limits Growth Prospects
Jan 21Independent Bank's (NASDAQ:INDB) Dividend Will Be $0.55
Dec 18Independent Bank (NASDAQ:INDB) Is Paying Out A Larger Dividend Than Last Year
Mar 20Independent Bank (NASDAQ:INDB) Has Announced That It Will Be Increasing Its Dividend To $0.55
Dec 13Independent Bank Non-GAAP EPS of $1.57 beats by $0.15, revenue of $190.8M beats by $5.27M
Oct 20Independent Bank: Lagged Benefit Of Rising Rates To Lift Earnings
Oct 05Independent Bank declares $0.51 dividend
Sep 15Independent Bank Non-GAAP EPS of $1.32 beats by $0.06, revenue of $172.76M beats by $3.83M
Jul 21Independent Bank Corp.: Higher Average Loan Balance To Drive Earnings
Feb 06Here's Why I Think Independent Bank (NASDAQ:INDB) Might Deserve Your Attention Today
Oct 25Revenue & Expenses Breakdown
How Independent Bank makes and spends money. Based on latest reported earnings, on an LTM basis.
Earnings and Revenue History
| Date | Revenue | Earnings | G+A Expenses | R&D Expenses |
|---|---|---|---|---|
| 30 Sep 24 | 655 | 197 | 317 | 0 |
| 30 Jun 24 | 678 | 215 | 311 | 0 |
| 31 Mar 24 | 690 | 226 | 307 | 0 |
| 31 Dec 23 | 708 | 240 | 305 | 0 |
| 30 Sep 23 | 728 | 262 | 302 | 0 |
| 30 Jun 23 | 738 | 273 | 302 | 0 |
| 31 Mar 23 | 733 | 272 | 294 | 0 |
| 31 Dec 22 | 718 | 264 | 285 | 0 |
| 30 Sep 22 | 642 | 188 | 275 | 0 |
| 30 Jun 22 | 581 | 157 | 259 | 0 |
| 31 Mar 22 | 531 | 132 | 246 | 0 |
| 31 Dec 21 | 489 | 121 | 233 | 0 |
| 30 Sep 21 | 493 | 154 | 224 | 0 |
| 30 Jun 21 | 479 | 149 | 223 | 0 |
| 31 Mar 21 | 455 | 136 | 218 | 0 |
| 31 Dec 20 | 425 | 121 | 210 | 0 |
| 30 Sep 20 | 432 | 134 | 212 | 0 |
| 30 Jun 20 | 455 | 151 | 211 | 0 |
| 31 Mar 20 | 489 | 157 | 213 | 0 |
| 31 Dec 19 | 501 | 165 | 206 | 0 |
| 30 Sep 19 | 473 | 148 | 196 | 0 |
| 30 Jun 19 | 435 | 129 | 185 | 0 |
| 31 Mar 19 | 396 | 129 | 173 | 0 |
| 31 Dec 18 | 381 | 122 | 171 | 0 |
| 30 Sep 18 | 368 | 114 | 166 | 0 |
| 30 Jun 18 | 357 | 105 | 166 | 0 |
| 31 Mar 18 | 348 | 94 | 163 | 0 |
| 31 Dec 17 | 339 | 87 | 160 | 0 |
| 30 Sep 17 | 327 | 82 | 156 | 0 |
| 30 Jun 17 | 316 | 79 | 153 | 0 |
| 31 Mar 17 | 309 | 79 | 150 | 0 |
| 31 Dec 16 | 304 | 77 | 149 | 0 |
| 30 Sep 16 | 301 | 79 | 146 | 0 |
| 30 Jun 16 | 298 | 77 | 143 | 0 |
| 31 Mar 16 | 293 | 74 | 142 | 0 |
| 31 Dec 15 | 288 | 65 | 144 | 0 |
| 30 Sep 15 | 280 | 61 | 138 | 0 |
| 30 Jun 15 | 272 | 59 | 136 | 0 |
| 31 Mar 15 | 263 | 56 | 130 | 0 |
| 31 Dec 14 | 256 | 60 | 128 | 0 |
| 30 Sep 14 | 250 | 54 | 126 | 0 |
| 30 Jun 14 | 245 | 53 | 122 | 0 |
| 31 Mar 14 | 241 | 51 | 122 | 0 |
| 31 Dec 13 | 240 | 50 | 122 | 0 |
Quality Earnings: INDB has high quality earnings.
Growing Profit Margin: INDB's current net profit margins (30%) are lower than last year (35.9%).
Free Cash Flow vs Earnings Analysis
Past Earnings Growth Analysis
Earnings Trend: INDB's earnings have grown by 13.1% per year over the past 5 years.
Accelerating Growth: INDB's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.
Earnings vs Industry: INDB had negative earnings growth (-24.8%) over the past year, making it difficult to compare to the Banks industry average (-11.8%).
Return on Equity
High ROE: INDB's Return on Equity (6.6%) is considered low.
Return on Assets
Return on Capital Employed
Discover strong past performing companies
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2024/12/22 13:02 |
| End of Day Share Price | 2024/12/20 00:00 |
| Earnings | 2024/09/30 |
| Annual Earnings | 2023/12/31 |
Data Sources
The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.
| Package | Data | Timeframe | Example US Source * |
|---|---|---|---|
| Company Financials | 10 years |
| |
| Analyst Consensus Estimates | +3 years |
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| Market Prices | 30 years |
| |
| Ownership | 10 years |
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| Management | 10 years |
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| Key Developments | 10 years |
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* example for US securities, for non-US equivalent regulatory forms and sources are used.
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.
Analysis Model and Snowflake
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Learn about the world class team who designed and built the Simply Wall St analysis model.
Industry and Sector Metrics
Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on .
Analyst Sources
Independent Bank Corp. is covered by 17 analysts. 3 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.
| Analyst | Institution |
|---|---|
| Bryce Rowe | Baird |
| David Bishop | D.A. Davidson & Co. |
| Barry Sine | Drexel Hamilton |