In its upcoming report, Independent Bank (IBCP) is predicted by Wall Street analysts to post quarterly earnings of $0.83 per share, reflecting a decline of 4.6% compared to the same period last year. Revenues are forecasted to be $57.7 million, representing a year-over-year decrease of 6.9%.
Over the last 30 days, there has been no revision in the consensus EPS estimate for the quarter. This signifies the covering analysts' collective reconsideration of their initial forecasts over the course of this timeframe.
Ahead of a company's earnings disclosure, it is crucial to give due consideration to changes in earnings estimates. These revisions serve as a noteworthy factor in predicting potential investor reactions to the stock. Numerous empirical studies consistently demonstrate a strong relationship between trends in earnings estimate revision and the short-term price performance of a stock.
While investors usually depend on consensus earnings and revenue estimates to assess the business performance for the quarter, delving into analysts' forecasts for certain key metrics often provides a more comprehensive understanding.
Given this perspective, it's time to examine the average forecasts of specific Independent Bank metrics that are routinely monitored and predicted by Wall Street analysts.
It is projected by analysts that the 'Net Interest Margin (GAAP)' will reach 3.6%. The estimate is in contrast to the year-ago figure of 3.4%.
The combined assessment of analysts suggests that 'Efficiency Ratio' will likely reach 60.1%. The estimate is in contrast to the year-ago figure of 59.1%.
The average prediction of analysts places 'Total non-interest income' at $11.81 million. The estimate compares to the year-ago value of $19.12 million.
The consensus among analysts is that 'Net Interest Income' will reach $46.46 million. The estimate compares to the year-ago value of $42.85 million.
View all Key Company Metrics for Independent Bank here>>>
Shares of Independent Bank have experienced a change of -0.8% in the past month compared to the -0.4% move of the Zacks S&P 500 composite. With a Zacks Rank #4 (Sell), IBCP is expected to underperform the overall market in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
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Independent Bank Corporation (IBCP): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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