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

Independent Bank

25/10/2022 14:01

* Independent Bank Corp (Michigan)  IBCP.OQ  reported
quarterly
adjusted earnings of 81 cents​​ per share for the quarter ended
in September. The mean expectation of six analysts for the
quarter was for earnings of 60 cents per share.
    * Revenue rose 18% to $39.90 million from a year ago;
analysts
expected $39.37 million. 
    * Independent Bank Corp (Michigan)'s reported EPS for the
quarter
was 81 cents​.
    * The mean earnings estimate of analysts had fallen by
about 0.1%
in the last three months.​ 
    * In the last 30 days one analyst negatively revised an
earnings
estimate 
    * Independent Bank Corp (Michigan) shares had risen by 9.4%
this
quarter and lost 12.4% so far this year.
    * The company reported quarterly net income of $17.3
million.
    * Wall Street's median 12-month price target for Independent
Bank
Corp (Michigan) is $22.00 
    * 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 from Refinitiv data October
25 at 01:01 p.m.  ​All figures in US dollars unless otherwise
stated. QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 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
 Dec. 31 2021      0.65           0.58           Missed