Independent Bank Corp (Michigan) expected to post earnings of 58  cents a share - Earnings Preview

Independent Bank

23/04/2021 14:25

* Independent Bank Corp (Michigan)  IBCP.OQ   IBCP.O  is
expected to show a rise in quarterly revenue when it reports
results on April 27.
* The Grand Rapids, Michigan-based company is expected to report
 a 4.0% increase in revenue to $31.41 million from $30.19
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 58 cents per share. For the same
quarter last year, the company reported earnings of 21 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 $25​, about 9.9% above​ its last closing
price of $22.52. ​​​
* Previous quarterly performance (using preferred earnings
measure in US dollars). ​
 QUARTER       STARMINE    REFINITIV  ACTUAL    BEAT,   SURPRI
 ENDING        SMARTESTIM  IBES                 MET,    SE %
               ATE®        ESTIMATE             MISSED  
 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​
 Mar. 31 2020  0.37        0.37       0.21      Missed  -43.7
 Dec.          0.60​       0.56       0.61      Beat    9.4​
 31​ 2019​                                              
 Sep. 30 2019  0.51        0.51       0.55      Beat    8.6​
 Jun. 30 2019  0.47        0.47       0.46      Missed  -3
 Mar. 31 2019  0.46        0.45       0.39      Missed  -13
 This summary was machine generated April 23 at 13:25 GMT.  All
figures in US dollars unless otherwise stated