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

Independent Bank

26/04/2022 14:31

* Independent Bank Corp (Michigan)  IBCP.OQ  reported
quarterly
adjusted earnings of 84 cents​​ per share for the quarter ended
in March. The mean expectation of six analysts for the quarter
was for earnings of 51 cents per share.
    * Revenue rose 9% to $33.00 million from a year ago; 
analysts
expected $32.83 million. 
    * Independent Bank Corp (Michigan)'s reported EPS for the
quarter
was 84 cents​.
    * The mean earnings estimate of analysts had fallen by
about 4.7%
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 2.9%
this
quarter and lost 10.5% so far this year.
    * The company reported quarterly net income of $17.97
million.
    * Wall Street's median 12-month price target for Independent
Bank
Corp (Michigan) is $26.50 
    * 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 April 26 at 01:31 p.m.  ​All
figures in US dollars unless otherwise stated