Independent Bank Corp (Michigan) expected to post earnings of 60cents a share - Earnings Preview

Independent Bank

21/10/2022 16:29

* Independent Bank Corp (Michigan)  IBCP.OQ   IBCP.O  is
expected
to show a rise in quarterly revenue when it reports  results on
October 25. 
    * The Grand Rapids Michigan-based  company is expected to
report 
a 16.5% increase in revenue to $39.368 million from $33.8
million a year ago, according to the mean estimate from 5
analysts, based on Refinitiv data. 
    * ​Refinitiv's mean analyst estimate for Independent Bank
Corp
(Michigan) is for earnings of 60 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  
 Jun. 30 2022  0.55        0.55       0.61      Beat    11.1
 Mar. 31 2022  0.51        0.51       0.84      Beat    66.3
 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.        0.67        0.67       0.56      Missed  -16.4
 30 2021                                                
 Mar. 31 2021  0.62        0.58       1.00      Beat    71.9​
 Dec. 31 2020  0.62        0.61       0.77      Beat    26.7
 Sep. 30 2020  0.48        0.48       0.89      Beat    86.2
 This summary was machine generated October 21 at 15:29 GMT.  All
figures in US dollars  unless otherwise stated