Independent Bank Corp (Michigan) expected to post earnings of 59  cents a share - Earnings Preview

Independent Bank

21/07/2023 16:27

* Independent Bank Corp (Michigan)  IBCP.OQ   IBCP.O  is
expected
to show a rise in quarterly revenue when it reports  results on
July 25. 
    * The Grand Rapids Michigan-based  company is expected to
report 
a 5.5% increase in revenue to $38.044 million from $36.06
million a year ago, according to the mean estimate from 4
analysts, based on Refinitiv data. 
    * ​Refinitiv's mean analyst estimate for Independent Bank
Corp
(Michigan) is for earnings of 59 cents per share. 
    * The current average analyst rating on the shares is "hold"
and
the breakdown of recommendations is 1 "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 $20​, above​ its last closing price
of $19.37. ​​​

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 2023  0.59        0.60       0.61      Beat    1.7
 Dec. 31 2023  0.73        0.74       0.71      Missed  -3.4
 Sep. 30 2022  0.61        0.60       0.81      Beat    34.1​
 Jun. 30 2022  0.55        0.55       0.61      Beat    11.1
 ​​Mar.        0.51        0.51       0.84      Beat    66.3
 31 2022                                                
 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
 This summary was machine generated July 21 at 15:27 GMT.  All
figures in US dollars  unless otherwise stated