Independent Bank (IBCP) Scheduled to Post Earnings on Thursday

Independent Bank (NASDAQ:IBCP) will be issuing 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. Parties interested in listening to the company’s conference call can do so using this link.

Independent Bank (NASDAQ:IBCP) last posted its quarterly earnings results on Thursday, January 25th. The financial services provider reported $0.79 EPS for the quarter, beating analysts’ consensus estimates of $0.71 by $0.08. Independent Bank had a net margin of 20.34% and a return on equity of 16.28%. The company 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 Trading Up 3.3 %

NASDAQ:IBCP opened at $25.30 on Wednesday. The company has a fifty day moving average of $24.30 and a 200 day moving average of $23.44. Independent Bank has a 52 week low of $14.90 and a 52 week high of $27.39. 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 firm has a market capitalization of $529.02 million, a P/E ratio of 9.07 and a beta of 0.97.

Wall Street Analyst Weigh In

Separately, Hovde Group initiated coverage on shares of Independent Bank in a 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.