Independent Bank (NASDAQ:IBCP – Get Rating) will be announcing its earnings results before the market opens on Thursday, January 26th. Analysts expect the company to announce earnings of $0.72 per share for the quarter. Investors interested in participating in the company’s conference call can do so using this link.
Independent Bank (NASDAQ:IBCP – Get Rating) last issued its earnings results on Tuesday, October 25th. The financial services provider reported $0.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.23. The business had revenue of $56.76 million for the quarter, compared to analyst estimates of $50.10 million. Independent Bank had a net margin of 27.57% and a return on equity of 17.15%. 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 Performance
Shares of Independent Bank stock opened at $23.22 on Wednesday. The firm has a market cap of $489.13 million, a PE ratio of 8.18 and a beta of 0.99. The firm’s 50-day simple moving average is $23.97 and its 200-day simple moving average is $21.91. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.80 and a current ratio of 0.80. Independent Bank has a 1 year low of $17.87 and a 1 year high of $26.00.
Institutional Investors Weigh In On Independent Bank
Wall Street Analyst Weigh In
A number of equities research analysts have recently issued reports on IBCP shares. Keefe, Bruyette & Woods lowered shares of Independent Bank from an “outperform” rating to a “market perform” rating and set a $26.00 target price on the stock. in a research note on Monday, December 12th. StockNews.com lowered shares of Independent Bank from a “buy” rating to a “hold” rating in a research note on Monday, December 26th. Finally, DA Davidson increased their price objective on shares of Independent Bank to $24.00 in a research note on Wednesday, November 16th.
Independent Bank Company Profile
Independent Bank Corporation operates as the bank holding company for Independent Bank that provides various banking services to individuals and businesses. 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 machine, and Internet and mobile banking services.
- Get a free copy of the StockNews.com research report on Independent Bank (IBCP)
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