Independent Bank Corp (Michigan) reports results for the quarter ended in December - Earnings Summary

Independent Bank

27/01/2022 14:31

* Independent Bank Corp (Michigan)  IBCP.OQ  reported
quarterly
adjusted earnings of 58 cents​​ per share for the quarter ended
in December. The mean expectation of six analysts for the
quarter was for earnings of 65 cents per share.
    * Revenue rose 10.6% to $34.29 million from a year ago; 
analysts
expected $34.70 million. 
    * Independent Bank Corp (Michigan)'s reported EPS for the
quarter
was 58 cents​.
    * The mean earnings estimate of analysts had risen by
about 1% in
the last three months.​ 
    * In the last 30 days there have been no earnings estimate
revisions by analysts covering the company. 
    * Independent Bank Corp (Michigan) shares had risen by 6.8%
this
quarter.
    * The company reported quarterly net income of $12.51
million.
    * Wall Street's median 12-month price target for Independent
Bank
Corp (Michigan) is $24.00 
    * 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." 

This summary was machine generated January 27 at 02:31 p.m.
 ​All figures in US dollars unless otherwise stated