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

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Independent Bank Co.(MI) (NASDAQ:IBCP) will post its quarterly earnings results before the market opens on Thursday, October 24th. Analysts expect Independent Bank Co.(MI) to post earnings of $0.50 per share for the quarter. Individual that are interested in registering for the company’s earnings conference call can do so using this link.

Independent Bank Co.(MI) (NASDAQ:IBCP) last announced its quarterly earnings results on Thursday, July 25th. The financial services provider reported $0.46 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.48 by ($0.02). Independent Bank Co.(MI) had a net margin of 22.60% and a return on equity of 12.35%. The company had revenue of $40.66 million during the quarter, compared to the consensus estimate of $42.62 million. 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.

Shares of IBCP opened at $21.94 on Wednesday. The firm’s 50 day moving average price is $20.89 and its two-hundred day moving average price is $21.21. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.92 and a current ratio of 0.94. The firm has a market cap of $499.27 million, a P/E ratio of 13.06 and a beta of 0.50. Independent Bank Co has a twelve month low of $18.94 and a twelve month high of $23.84.

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

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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