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

Independent Bank

23/07/2024 17:24

* Independent Bank Corp (Michigan)  IBCP.OQ   IBCP.O  is
expected
to show a rise in quarterly revenue when it reports  results on
July 25 for the period ending June 30 2024
    * The Grand Rapids Michigan-based  company is expected to
report a
7.2% increase in revenue to $41.104 million from $38.35 million
a year ago, according to the mean estimate from 5 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," 5
"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​, below​ its last closing price
of $32.27. ​​​

Previous quarterly performance (using preferred earnings measure
in US dollars). ​
 QUARTER       STARMINESM  LSEG IBES  ACTUAL    BEAT,   SURPRI
 ENDING        ARTESTIMAT  ESTIMATE             MET,    SE %
               E®                               MISSED  
 Mar. 31 2024  0.64        0.64       0.76      Beat    18.2
 Dec. 31 2024  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.        0.59        0.60       0.61      Beat    1.7
 31 2023                                                
 Dec. 31 2022  0.73        0.74       0.71      Missed  -3.4​
 Sep. 30 2022  0.61        0.60       0.81      Beat    34.1
 Jun. 30 2022  0.55        0.55       0.61      Beat    11.1
 This summary was machine generated July 23 at 16:24 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)