Independent Bank (IBCP) Scheduled to Post Earnings on Thursday

Independent Bank (NASDAQ:IBCP) is scheduled to post its quarterly earnings results before the market opens on Thursday, April 25th. Analysts expect Independent Bank to post earnings of $0.65 per share for the quarter. Individual that wish to register for the company’s earnings conference call can do so using this link.

Independent Bank (NASDAQ:IBCP) last issued its earnings results on Thursday, January 25th. The financial services provider reported $0.79 earnings per share for the quarter, topping analysts’ consensus estimates of $0.71 by $0.08. Independent Bank had a return on equity of 16.28% and a net margin of 20.34%. The business had revenue of $49.21 million during the quarter, compared to analyst estimates of $51.50 million. 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 Price Performance

Shares of NASDAQ:IBCP opened at $24.49 on Tuesday. Independent Bank has a fifty-two week low of $14.90 and a fifty-two week high of $27.39. The firm has a market cap of $512.09 million, a price-to-earnings ratio of 8.78 and a beta of 0.97. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.85 and a current ratio of 0.86. The business has a 50-day simple moving average of $24.27 and a two-hundred day simple moving average of $23.39.

Analysts Set New Price Targets

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

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.