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

Independent Bank

26/01/2023 14:32

* Independent Bank Corp (Michigan)  IBCP.OQ  reported
quarterly
adjusted earnings of 71 cents​​ per share for the quarter ended
in December. The mean expectation of five analysts for the
quarter was for earnings of 74 cents per share.
    * Revenue fell 4% to $40.60 million from a year ago;
analysts
expected $41.94 million. 
    * Independent Bank Corp (Michigan)'s reported EPS for the
quarter
was 71 cents​.
    * The mean earnings estimate of analysts had risen by
about 4.1%
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 fallen by 4.1%
this
quarter.
    * The company reported quarterly net income of $15.09
million.
    * Wall Street's median 12-month price target for Independent
Bank
Corp (Michigan) is $24.50 
    * The current average analyst rating on the shares is "hold"
and
the breakdown of recommendations is 1 "strong buy" or "buy," 4
"hold" and no "sell" or "strong sell." 

This summary was machine generated from Refinitiv data January
26 at 02:32 p.m.  ​All figures in US dollars unless otherwise
stated. QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Dec. 31 2022      0.74           0.71           Missed
 Sep. 30 2022      0.60           0.81           Beat
 Jun. 30 2022      0.55           0.61           Beat
 Mar. 31 2022      0.51           0.84           Beat