- INDEPENDENT BANK CORP/MA has improved earnings per share by 36.8% in the most recent quarter compared to the same quarter a year ago. The company has demonstrated a pattern of positive earnings per share growth over the past two years. We feel that this trend should continue. During the past fiscal year, INDEPENDENT BANK CORP/MA increased its bottom line by earning $1.91 versus $0.89 in the prior year. This year, the market expects an improvement in earnings ($2.16 versus $1.91).
- The company, on the basis of net income growth from the same quarter one year ago, has significantly outperformed against the S&P 500 and exceeded that of the Commercial Banks industry average. The net income increased by 38.5% when compared to the same quarter one year prior, rising from $8.03 million to $11.12 million.
- INDB's revenue growth trails the industry average of 19.9%. Since the same quarter one year prior, revenues slightly increased by 1.1%. Growth in the company's revenue appears to have helped boost the earnings per share.
- The gross profit margin for INDEPENDENT BANK CORP/MA is currently very high, coming in at 82.70%. It has increased significantly from the same period last year. Along with this, the net profit margin of 17.70% is above that of the industry average.
- Net operating cash flow has significantly increased by 93.48% to -$0.59 million when compared to the same quarter last year. The firm also exceeded the industry average cash flow growth rate of 55.10%.
NEW YORK ( TheStreet) -- Independent Bank (Nasdaq: INDB) has been upgraded by TheStreet Ratings from hold to buy. The company's strengths can be seen in multiple areas, such as its impressive record of earnings per share growth, compelling growth in net income, revenue growth, expanding profit margins and good cash flow from operations. Although the company may harbor some minor weaknesses, we feel they are unlikely to have a significant impact on results. Highlights from the ratings report include: