Independent Bank Corporation Reports Q3 Results: Non-GAAP EPS Beats Estimates, Revenue Slightly Misses
Independent Bank Corp. announced its third-quarter financial results, reporting a Non-GAAP earnings per share (EPS) of $1.55. This figure beat analyst expectations by $0.02, reflecting strong profitability for the period.
The company recorded total revenue of $243.73 million, representing a 39.1% year-over-year increase. However, this revenue figure missed the consensus estimate by $1.04 million.
On an operating basis, Independent Bank demonstrated solid performance by generating a notable return on average assets as well as a return on average common equity, showcasing efficient asset management and shareholder value creation.
Market data related to Independent Bank Corp. and comparable stocks include:
– INDB
– IBCP
[Price change and trend data over 1 day, 5 days, 1 month, 6 months, 1 year, 5 years, and 10 years, along with trending news and analysis, are available for investors.]
Stay tuned for more updates and detailed analysis on Independent Bank Corp.’s financial performance and market trends.
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