Independent Bank Co.(MI) (IBCP) Scheduled to Post Quarterly Earnings on Wednesday

Independent Bank Co.(MI) (NASDAQ:IBCP) will be releasing its earnings data before the market opens on Wednesday, January 24th. Analysts expect Independent Bank Co.(MI) to post earnings of $0.34 per share for the quarter.

Independent Bank Co.(MI) (NASDAQ:IBCP) last posted its quarterly earnings results on Thursday, October 26th. The financial services provider reported $0.32 EPS for the quarter, missing the consensus estimate of $0.33 by ($0.01). Independent Bank Co.(MI) had a net margin of 17.75% and a return on equity of 9.52%. The business had revenue of $33.22 million during the quarter, compared to the consensus estimate of $33.36 million. On average, analysts expect Independent Bank Co.(MI) to post $1 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Shares of Independent Bank Co (IBCP) opened at $23.50 on Wednesday. Independent Bank Co has a twelve month low of $18.50 and a twelve month high of $24.20. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.86 and a quick ratio of 0.84. The company has a market cap of $501.30, a PE ratio of 20.61, a PEG ratio of 1.92 and a beta of 0.69.

Several research firms have recently commented on IBCP. Keefe, Bruyette & Woods restated a “hold” rating and issued a $22.00 price target on shares of Independent Bank Co.(MI) in a report on Wednesday, October 4th. Boenning Scattergood restated a “hold” rating on shares of Independent Bank Co.(MI) in a report on Friday, October 27th. Compass Point upgraded shares of Independent Bank Co.(MI) from a “neutral” rating to a “buy” rating in a report on Monday, December 18th. Finally, Zacks Investment Research upgraded shares of Independent Bank Co.(MI) from a “hold” rating to a “buy” rating and set a $23.00 price target for the company in a report on Wednesday, September 27th. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $24.00.

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Independent Bank Co.(MI) Company Profile

Independent Bank Corporation is a bank holding company. The Company owns all of the outstanding stock of Independent Bank (the Bank). The Bank focuses on commercial banking industry. The Bank offers a range of banking services to individuals and businesses, including checking and savings accounts, commercial lending, direct and indirect consumer financing, mortgage lending and safe deposit box services.

Earnings History for Independent Bank Co.(MI) (NASDAQ:IBCP)

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