* Independent Bank Corp (Michigan) reported quarterly adjusted earnings of 65 cents​​ per share for the quarter ended September 30, lower than the same quarter last year, when the company reported EPS of 83 cents. The mean expectation of five analysts for the quarter was for earnings of 76 cents per share. Wall Street expected results to range from 73 cents to 78 cents per share.

* Revenue fell 8.1% to $41.85 million from a year ago; analysts expected $42.26 million.

* Independent Bank Corp (Michigan)'s reported EPS for the quarter was 65 cents​.

* The company reported quarterly net income of $13.81 million.

* Independent Bank Corp (Michigan) shares had fallen by 0.4% this quarter and gained 27.7% so far this year.

FORECAST CHANGES

* The mean earnings estimate of analysts had risen by about 1% in the last three months.​

* In the last 30 days, one analyst negatively revised an earnings estimate

RECOMMENDATIONS

* The current average analyst rating on the shares is "hold" and the breakdown of recommendations is no "strong buy" or "buy," 5 "hold" and no "sell" or "strong sell."

* The average consensus recommendation for the banks peer group is also "hold"

Wall Street's median 12-month price target for Independent Bank Corp (Michigan) is $34.00 This summary was machine generated from LSEG data October 24 at 04:03 p.m. UTC. ​All figures in US dollars unless otherwise stated. (For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING ESTIMATE ACTUAL BEAT, MET,

MISSED

Sep. 30 2024 0.76 0.65 Missed

Jun. 30 2024 0.70 0.88 Beat

Mar. 31 2024 0.64 0.76 Beat

Dec. 31 2023 0.70 0.65 Missed