Independent Bank Corp (Michigan) reports results for the quarter ended March 31 - Earnings Summary

Independent Bank

24/04/2025 14:39

Independent Bank Corp (Michigan) IBCP.OQ reported quarterly adjusted earnings of 74 cents​​ per share for the quarter ended March 31, lower than the same quarter last year, when the company reported EPS of 76 cents.  The mean expectation of five analysts for the quarter was for earnings of 70 cents per share. Wall Street expected results to range from 69 cents to 72 cents per share.

Revenue rose 8.7% to $43.69 million from a year ago; analysts expected $43.40 million.

Independent Bank Corp (Michigan)'s reported EPS for the quarter was 74 cents​.

The company reported quarterly net income of $15.59 million.

Independent Bank Corp (Michigan) shares had risen by 1.6% this quarter and lost 10.2% so far this year.

FORECAST CHANGES

The mean earnings estimate of analysts had fallen by about 0.5% in the last three months.​

In the last 30 days, there have been no negative revisions of earnings estimates

RECOMMENDATIONS

The current average analyst rating on the shares is "hold" and the breakdown of recommendations is no "strong buy" or "buy," 5 "hold" and no "sell" or "strong sell." The average consensus recommendation for the banks peer group is also "hold"

Wall Street's median 12-month price target for Independent Bank Corp (Michigan) is $37.00

This summary was machine generated from LSEG data April 24 at 01:39 p.m. UTC. ​All figures in US dollars unless otherwise stated. (For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com)

QUARTER ENDING
ESTIMATE
ACTUAL
BEAT, MET, MISSED
Mar. 31 2025
0.70
0.74
Beat
Dec. 31 2024
0.77
0.87
Beat
Sep. 30 2024
0.76
0.65
Missed
Jun. 30 2024
0.70
0.88
Beat