Zacks: Brokerages Expect Independent Bank Co. (NASDAQ:IBCP) Will Announce Quarterly Sales of $47.96 Million

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Analysts forecast that Unbiased Lender Co. (NASDAQ:IBCPGet Score) will post $47.96 million in revenue for the present fiscal quarter, according to Zacks. Three analysts have manufactured estimates for Unbiased Bank’s earnings, with the highest profits estimate coming in at $48.70 million and the most affordable estimate coming in at $46.98 million. Impartial Lender posted profits of $46.16 million all through the same quarter very last yr, which implies a beneficial year-about-calendar year expansion fee of 3.9%. The organization is scheduled to report its future earnings outcomes on Monday, January 1st.

According to Zacks, analysts hope that Independent Financial institution will report total 12 months gross sales of $191.67 million for the present-day 12 months, with estimates ranging from $187.80 million to $194.70 million. For the up coming year, analysts be expecting that the business will report income of $202.25 million, with estimates ranging from $193.06 million to $209.10 million. Zacks Investment decision Research’s income calculations are a signify ordinary based on a survey of investigation analysts that observe Unbiased Financial institution.

Unbiased Bank (NASDAQ:IBCPGet Rating) very last issued its quarterly earnings success on Tuesday, April 26th. The economic companies company documented $.84 EPS for the quarter, topping the consensus estimate of $.50 by $.34. Unbiased Bank had a internet margin of 29.29% and a return on fairness of 15.90%. In the course of the similar quarter in the past 12 months, the small business posted $1.00 earnings for each share.

Quite a few exploration corporations have weighed in on IBCP. Zacks Investment Investigate lifted Impartial Bank from a “hold” rating to a “buy” score and set a $28.00 concentrate on price tag on the inventory in a analysis notice on Wednesday, January 12th. StockNews.com initiated protection on shares of Impartial Financial institution in a analysis note on Thursday, March 31st. They issued a “hold” score for the company.

Shares of Independent Bank inventory opened at $20.51 on Thursday. Unbiased Lender has a 52 week minimal of $19.60 and a 52 week large of $26.00. The company has a financial debt-to-fairness ratio of .27, a brief ratio of .72 and a current ratio of .74. The inventory has a sector capitalization of $436.39 million, a value-to-earnings ratio of 7.15 and a beta of 1.00. The company has a fifty day moving typical of $22.61 and a two-hundred day shifting normal of $23.28.

The organization also lately declared a quarterly dividend, which will be paid out on Monday, May 16th. Stockholders of file on Thursday, Might 5th will be issued a $.22 dividend. This represents a $.88 annualized dividend and a dividend generate of 4.29%. The ex-dividend date of this dividend is Wednesday, Might 4th. Unbiased Bank’s dividend payout ratio (DPR) is 30.66%.

Several hedge funds have a short while ago made alterations to their positions in the organization. Assenagon Asset Management S.A. grew its holdings in shares of Unbiased Lender by 17.4% in the 1st quarter. Assenagon Asset Administration S.A. now owns 142,344 shares of the economic solutions provider’s stock valued at $3,132,000 immediately after obtaining an added 21,119 shares for the duration of the period of time. CWM LLC grew its holdings in shares of Unbiased Bank by 592.5% in the 1st quarter. CWM LLC now owns 1,295 shares of the economical solutions provider’s inventory valued at $28,000 soon after shopping for an supplemental 1,108 shares during the period. Lindbrook Funds LLC obtained a new placement in shares of Independent Financial institution in the 1st quarter valued at $26,000. Barclays PLC boosted its stake in Impartial Lender by 18.% in the 4th quarter. Barclays PLC now owns 120,472 shares of the financial products and services provider’s stock worth $2,876,000 soon after getting an extra 18,368 shares through the time period. Finally, BlackRock Inc. boosted its stake in Independent Bank by 5.7% in the 4th quarter. BlackRock Inc. now owns 2,574,495 shares of the financial products and services provider’s stock well worth $61,455,000 just after buying an additional 139,931 shares in the course of the interval. 81.57% of the inventory is owned by institutional buyers.

Unbiased Bank Corporation Profile (Get Rating)

Unbiased Financial institution Company operates as the lender holding corporation for Impartial Bank that supplies several banking providers to men and women and enterprises. The business features checking and financial savings accounts, commercial lending, immediate and indirect buyer financing, mortgage lending, and safe and sound deposit box companies, as properly as computerized teller equipment, and World wide web and mobile banking services.

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