According to a report published by Zacks Investment Research, quite a few research analysts have been predicting the stocks of IBCP to post a sales sum of about $50.40 million for the present quarter. The report claims that three analysts have already provided estimates regarding the earnings of the firm, with the range going from $46.80 million, all the way to $52.30 million. The company did post a sales sum of $46.31 million just the previous year, so this is indicative of an annual growth rate of 8.8%. Independent Bank Co. would be reporting their next quarterly data on the 28th of January.
The Quarterly Earnings of IBCP
There are quite a few companies that have commented on the stocks of IBCP. TheStreet has already increased the rating of the bank from c+ to b, which was published in a 9th November research report. Boenning Scattergood has reaffirmed its previous rating of neutral on the shares of the company. Zacks Investment Research has downgraded the rating of IBCP from strong-buy to sell, which was published in a 30th December research report.
One of the investment analysts covering the firm has given it a rating of sell, while two other analysts gave the company a rating of hold. But since three analysts gave IBCP a rating of buy, the consensus rating has been set at hold. The price target of the company has been fixed at $17.67.
IBCP had previously posted their quarterly earnings data on the 1st of November. The company had doled out an EPS of $0.89 for the quarter, which was more than the one prescribed by analysts at Zacks. The company also had a net margin of about 24.64%, along with a return on its equity that was fixed at 15.01%.
