Independent Bank Corp (Michigan) expected to post earnings of 76 cents a share - Earnings Preview

Independent Bank

22/10/2024 15:09

* Independent Bank Corp (Michigan)  IBCP.OQ   IBCP.O  is
expected
to show a fall in quarterly revenue when it reports  results on
October 24 for the period ending September 30 2024
    * The Grand Rapids Michigan-based  company is expected to
report a
7.2% decrease in revenue to $42.26 million from $45.53 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 76 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 34.00​, above​ its last closing price
of $33.02. ​​​

Previous quarterly performance (using preferred earnings measure
in US dollars). ​
 QUARTER       STARMINESM  LSEG IBES  ACTUAL    BEAT,   SURPRI
 ENDING        ARTESTIMAT  ESTIMATE             MET,    SE %
               E®                               MISSED  
 Jun. 30 2024  0.70        0.70       0.88      Beat    25.2
 Mar. 31 2024  0.64        0.64       0.76      Beat    18.2
 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.        0.59        0.59       0.70      Beat    18.2
 30 2023                                                
 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. 30 2022  0.61        0.60       0.81      Beat    34.1
 This summary was machine generated October 22 at 14:09 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)