Independent Bank Q4 EPS $1.26 Beats $1.24 Estimate, Sales $177.16M Miss $177.34M Estimate
Portfolio Pulse from Benzinga Newsdesk
Independent Bank (NASDAQ:INDB) reported Q4 earnings of $1.26 per share, surpassing the consensus estimate of $1.24, but saw a 25.44% decrease from the previous year's $1.69 per share. Sales were $177.16M, slightly missing the $177.34M estimate and down 11.71% from last year's $200.66M.

January 18, 2024 | 9:19 pm
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NEUTRAL IMPACT
Independent Bank's Q4 earnings exceeded estimates but showed a significant year-over-year decline in both EPS and sales.
While INDB beat EPS estimates, the decrease in earnings and sales compared to the previous year may concern investors. The slight miss on sales estimates could also contribute to a neutral short-term impact, as the beat on earnings might offset the negative sentiment from the sales miss and year-over-year declines.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100