Independent Bank Corp (Michigan) expected to post earnings of 70 cents a share - Earnings Preview

Independent Bank

23/01/2024 13:55

* Independent Bank Corp (Michigan)  IBCP.OQ   IBCP.O  is
expected
to show a fall in quarterly revenue when it reports  results on
January 25 for the period ending December 31 2023
    * The Grand Rapids Michigan-based  company is expected to
report a
1.2% decrease in revenue to $40.113 million from $40.6 million a
year ago, according to the mean estimate from 4 analysts, based
on LSEG data. (SAL represents Net Interest Income)
    * ​LSEG's mean analyst estimate for Independent Bank Corp
(Michigan) is for earnings of 70 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 $23.00​, below​ its last closing price
of $26.60. ​​​

Previous quarterly performance (using preferred earnings measure
in US dollars). ​
 QUARTER       STARMINESM  LSEG IBES  ACTUAL    BEAT,   SURPRI
 ENDING        ARTESTIMAT  ESTIMATE             MET,    SE %
               E®                               MISSED  
 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. 31 2022  0.73        0.74       0.71      Missed  -3.4
 ​​Sep.        0.61        0.60       0.81      Beat    34.1
 30 2022                                                
 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
 This summary was machine generated January 23 at 13:54 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)