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

Independent Bank

29/07/2021 14:32

* Independent Bank Corp (Michigan)  IBCP.OQ  reported quarterly
adjusted earnings of 56 cents​​ per share for the quarter ended
in June. The mean expectation of five analysts for the quarter
was for earnings of 67 cents per share.
* Revenue rose 3.1% to $31.39 million from a year ago;  analysts
expected $30.84 million. 
* The mean earnings estimate of analysts had risen by about 3.7%
in the last three months.​ 
* In the last 30 days one analyst negatively revised an earnings
estimate 
* Independent Bank Corp (Michigan) shares had fallen by 4.1%
this quarter and gained 12.8% so far this year.
* The company reported quarterly net income of $12.39 million.
* Wall Street's median 12-month price target for Independent
Bank Corp (Michigan) is $25.00 
* 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 July 29 at 01:32 p.m.  ​All
figures in US dollars unless otherwise stated