Independent Bank Corporation (NASDAQ:IBCP) is reporting second quarter earnings results on Tuesday 28th July 2020, before market open.
The consensus estimates from Thomson Reuters are income of $ 0.25 per share.
For the full year, analysts predict revenues of $ 125.71 million, while looking forward to income of $ 1.35 per share.
Previous Quarter Performance
Independent Bank Corporation outlined income for the first quarter of $ 0.21 per share, from the revenue of $ 30.19 million. The quarterly earnings fell 46.15 percent while revenues declined 0.17 percent compared with the same quarter last year.
Wall street analysts are predicting, IBCP to report 1Q20 income of $ 0.39 per share from revenue of $ 30.16 million. The bottom line results missed street analysts by $ 0.18 or 46.15 percent, at the same time, top line results outshined analysts by $ 0.03 million or 0.10 percent.
Historical Earnings Performance
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Stock Performance
According to the previous trading day, closing price of IBCP was $ 13.07, representing a 42.22 % increase from the 52 week low of $ 9.19 and a 45.38 % decrease over the 52 week high of $ 23.93.
The company has a market capital of $ 286.12 million and is part of the Financial Services sector and Banks – Regional – US industry.
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Recent Stock Dividend Announcement
The board of directors has authorized quarterly dividend of $ 0.20 per share on April 21, 2020. The dividend were payable on May 15, 2020 to holders of record as of the close of business on May 5, 2020 and ex-dividend date on May 4, 2020.
Conference Call
Independent Bank Corporation will be hosting a conference call at 11:00 AM eastern time on 28th July 2020, to discuss its 2Q20 financial results with the investment community. A live webcast with presentations will be available on the Internet by visiting the Company website www.independentbank.com
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. It also provides title insurance, investment, and insurance brokerage services.
