Independent Bank Corp (Michigan) expected to post earnings of 51  cents a share - Earnings Preview

Independent Bank

22/04/2022 14:55

* Independent Bank Corp (Michigan)  IBCP.OQ   IBCP.O  is
expected
to show a rise in quarterly revenue when it reports  results on
April 26. 
    * The Grand Rapids Michigan-based  company is expected to
report 
a 8.4% increase in revenue to $32.83 million from $30.28 million
a year ago, according to the mean estimate from 6 analysts,
based on Refinitiv data. 
    * ​Refinitiv's mean analyst estimate for Independent Bank
Corp
(Michigan) is for earnings of 51 cents per share. For the same
quarter last year, the company reported earnings of $1.00 per
share.
    * The current average analyst rating on the shares is "hold"
and
the breakdown of recommendations is 2 "strong buy" or "buy," 4
"hold" and no "sell" or "strong sell."  
    * The mean earnings estimate of analysts was unchanged in
the last
three months. ​
    * Wall Street's median 12-month price target for Independent
Bank
Corp (Michigan) is $26.5​, above​ its last closing price
of $21.94. ​​​
    * Previous quarterly performance (using preferred earnings
measure
in US dollars). ​

 QUARTER       STARMINESM  REFINITIV  ACTUAL    BEAT,   SURPRI
 ENDING        ARTESTIMAT  IBES                 MET,    SE %
               E®          ESTIMATE             MISSED  
 Dec. 31 2021  0.67        0.65       0.58      Missed  -10.5
 Sep. 30 2021  0.64        0.63       0.73      Beat    16.8
 Jun. 30 2021  0.67        0.67       0.56      Missed  -16.4​
 Mar. 31 2021  0.62        0.58       1.00      Beat    71.9
 ​​Dec.        0.62        0.61       0.77      Beat    26.7
 31 2020                                                
 Sep. 30 2020  0.48        0.48       0.89      Beat    86.2​
 Jun. 30 2020  0.24        0.25       0.67      Beat    163.8
 Mar. 31 2020  0.37        0.37       0.21      Missed  -43.7
 This summary was machine generated April 22 at 13:55 GMT.  All
figures in US dollars  unless otherwise stated