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

Independent Bank Co.(MI) (NASDAQ:IBCP) will issue its quarterly earnings data before the market opens on Thursday, October 24th. Analysts expect the company to announce earnings of $0.50 per share for the quarter. Parties that wish to register for the company’s conference call can do so using this link.

Independent Bank Co.(MI) (NASDAQ:IBCP) last posted its quarterly earnings data on Thursday, July 25th. The financial services provider reported $0.46 earnings per share for the quarter, missing the consensus estimate of $0.48 by ($0.02). The company had revenue of $40.66 million during the quarter, compared to analyst estimates of $42.62 million. Independent Bank Co.(MI) had a net margin of 22.60% and a return on equity of 12.35%. On average, analysts expect Independent Bank Co.(MI) to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.

IBCP opened at $21.94 on Wednesday. The company has a current ratio of 0.94, a quick ratio of 0.92 and a debt-to-equity ratio of 0.24. The stock has a market capitalization of $499.27 million, a PE ratio of 13.06 and a beta of 0.50. Independent Bank Co has a 1-year low of $18.94 and a 1-year high of $23.84. The firm has a 50-day moving average price of $20.89 and a two-hundred day moving average price of $21.21.

IBCP has been the subject of several research reports. ValuEngine upgraded shares of Independent Bank Co.(MI) from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Zacks Investment Research cut shares of Independent Bank Co.(MI) from a “hold” rating to a “sell” rating in a research report on Thursday, October 10th. Finally, BidaskClub upgraded shares of Independent Bank Co.(MI) from a “sell” rating to a “hold” rating in a research report on Saturday.

About Independent Bank Co.(MI)

Independent Bank Corporation operates as the holding company for Independent Bank that provides various banking services to individuals and businesses in Michigan. The company offers checking and savings accounts, commercial lending, direct and indirect consumer financing, mortgage lending, and safe deposit box services, as well as automatic teller machines, and Internet and mobile banking services.

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

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