Independent Bank Corp (Michigan) expected to post earnings of 64 cents a share - Earnings Preview

Independent Bank

23/04/2024 13:47

* Independent Bank Corp (Michigan)  IBCP.OQ   IBCP.O  is
expected
to show a rise in quarterly revenue when it reports  results on
April 25 for the period ending March 31 2024
    * The Grand Rapids Michigan-based  company is expected to
report a
4.8% increase in revenue to $40.279 million from $38.44 million
a year ago, according to the mean estimate from 4 analysts,
based on LSEG data.
    * ​LSEG's mean analyst estimate for Independent Bank Corp
(Michigan) is for earnings of 64 cents per share. 
    * The current average analyst rating on the shares is "hold"
and
the breakdown of recommendations is no "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 $27.00​, above​ its last closing price
of $24.49. ​​​

Previous quarterly performance (using preferred earnings measure
in US dollars). ​
 QUARTER       STARMINESM  LSEG IBES  ACTUAL    BEAT,   SURPRI
 ENDING        ARTESTIMAT  ESTIMATE             MET,    SE %
               E®                               MISSED  
 Dec. 31 2023  0.69        0.70       0.65      Missed  -6.8
 Sep. 30 2023  0.62        0.62       0.83      Beat    33.3
 Jun. 30 2023  0.59        0.59       0.70      Beat    18.2​
 Mar. 31 2023  0.59        0.60       0.61      Beat    1.7
 ​​Dec.        0.73        0.74       0.71      Missed  -3.4
 31 2022                                                
 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. 31 2022  0.51        0.51       0.84      Beat    66.3
 This summary was machine generated April 23 at 12:47 GMT.  All
figures in US dollars unless otherwise stated. (For questions
concerning the data in this report, contact
Estimates.Support@lseg.com. For any other questions or feedback,
contact RefinitivNewsSupport@thomsonreuters.com)