Independent Bank Corp (Michigan) expected to post earnings of 63 cents a share - Earnings Preview

Independent Bank

22/10/2021 19:32

* Independent Bank Corp (Michigan)  IBCP.OQ   IBCP.O  is
expected to show a fall in quarterly revenue when it reports
results on October 26. 
* The Grand Rapids, Michigan-based company is expected to report
 a 1.0% decrease in revenue to $31.637 million from $31.97
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 63 cents per share. For the same
quarter last year, the company reported earnings of 89 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 $23​, about 4.2% above​ its last closing
price of $22.04. ​​​
* Previous quarterly performance (using preferred earnings
measure in US dollars). ​
 QUARTER       STARMINE    REFINITIV  ACTUAL    BEAT,   SURPRI
 ENDING        SMARTESTIM  IBES                 MET,    SE %
               ATE®        ESTIMATE             MISSED  
 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. 31 2020  0.62        0.61       0.77      Beat    26.7​
 Sep. 30 2020  0.48        0.48       0.89      Beat    86.2
 Jun.          0.24​       0.25       0.67      Beat    163.8​
 30​ 2020​                                              
 Mar. 31 2020  0.37        0.37       0.21      Missed  -43.7​
 Dec. 31 2019  0.60        0.56       0.61      Beat    9.4
 Sep. 30 2019  0.51        0.51       0.55      Beat    8.6
 This summary was machine generated October 22 at 18:31 GMT.  All
figures in US dollars unless otherwise stated