Independent Bank Corp (Michigan) expected to post earnings of 55  cents a share - Earnings Preview

Independent Bank

22/07/2022 16:18

* Independent Bank Corp (Michigan)  IBCP.OQ   IBCP.O  is
expected
to show a rise in quarterly revenue when it reports  results on
July 26. 
    * The Grand Rapids Michigan-based  company is expected to
report 
a 9.6% increase in revenue to $34.406 million from $31.39
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 55 cents per share. For the same
quarter last year, the company reported earnings of 56 cents 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 $22​, above​ its last closing price
of $19.96. ​​​
    * Previous quarterly performance (using preferred earnings
measure
in US dollars). ​

 QUARTER       STARMINESM  REFINITIV  ACTUAL    BEAT,   SURPRI
 ENDING        ARTESTIMAT  IBES                 MET,    SE %
               E®          ESTIMATE             MISSED  
 Mar. 31 2022  0.51        0.51       0.84      Beat    66.3
 Dec. 31 2022  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.        0.62        0.58       1.00      Beat    71.9
 31 2021                                                
 Dec. 31 2020  0.62        0.61       0.77      Beat    26.7​
 Sep. 30 2020  0.48        0.48       0.89      Beat    86.2
 Jun. 30 2020  0.24        0.25       0.67      Beat    163.8
 This summary was machine generated July 22 at 15:18 GMT.  All
figures in US dollars  unless otherwise stated