Independent Bank (IBCP) Scheduled to Post Earnings on Thursday

Independent Bank (NASDAQ:IBCP) will issue its quarterly earnings data before the market opens on Thursday, April 25th. Analysts expect the company to announce earnings of $0.65 per share for the quarter. Individual interested in registering for the company’s earnings conference call can do so using this link.

Independent Bank (NASDAQ:IBCP) last released its earnings results on Thursday, January 25th. The financial services provider reported $0.79 earnings per share for the quarter, beating analysts’ consensus estimates of $0.71 by $0.08. The firm had revenue of $49.21 million for the quarter, compared to analysts’ expectations of $51.50 million. Independent Bank had a net margin of 20.34% and a return on equity of 16.28%. On average, analysts expect Independent Bank to post $3 EPS for the current fiscal year and $3 EPS for the next fiscal year.

Independent Bank Stock Up 0.5 %

IBCP opened at $24.49 on Tuesday. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 0.32. The stock has a market cap of $512.09 million, a price-to-earnings ratio of 8.78 and a beta of 0.97. Independent Bank has a twelve month low of $14.90 and a twelve month high of $27.39. The company’s 50-day moving average price is $24.27 and its two-hundred day moving average price is $23.39.

Analyst Ratings Changes

Separately, Hovde Group began coverage on shares of Independent Bank in a report on Monday, March 4th. They set a “market perform” rating on the stock.

Independent Bank Company Profile

Independent Bank Corporation operates as the bank holding company for Independent Bank that provides commercial banking services to individuals and businesses in rural and suburban communities in Michigan. It offers checking and savings accounts, commercial lending, direct and indirect consumer financing, mortgage lending, and safe deposit box services.