Independent Bank Corp (Michigan) expected to post earnings of 65 cents a share - Earnings Preview

Independent Bank

25/01/2022 15:55

* Independent Bank Corp (Michigan)  IBCP.OQ   IBCP.O  is
expected
to show a rise in quarterly revenue when it reports  results on
January 27. 
    * The Grand Rapids Michigan-based  company is expected to
report 
a 12.0% increase in revenue to $34.701 million from $30.99
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 65 cents per share. For the same
quarter last year, the company reported earnings of 77 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 $24​, about 5.2% below​ its last closing
price of $25.25. ​​​
    * 

This summary was machine generated January 25 at 15:55 GMT.  All
figures in US dollars  unless otherwise stated