Independent Bank Co. (NASDAQ:IBCP - Free Report) - Equities researchers at DA Davidson issued their Q2 2025 earnings estimates for shares of Independent Bank in a report issued on Friday, April 25th. DA Davidson analyst P. Winter anticipates that the financial services provider will post earnings per share of $0.77 for the quarter. DA Davidson has a "Neutral" rating and a $39.00 price target on the stock. The consensus estimate for Independent Bank's current full-year earnings is $3.22 per share. DA Davidson also issued estimates for Independent Bank's FY2025 earnings at $3.15 EPS and FY2026 earnings at $3.48 EPS.
Independent Bank (NASDAQ:IBCP - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The financial services provider reported $0.74 EPS for the quarter, topping analysts' consensus estimates of $0.70 by $0.04. Independent Bank had a return on equity of 15.43% and a net margin of 20.67%. The firm had revenue of $54.11 million during the quarter, compared to analyst estimates of $46.25 million.
IBCP has been the subject of several other research reports. Keefe, Bruyette & Woods reduced their target price on shares of Independent Bank from $37.00 to $35.00 and set a "market perform" rating for the company in a research note on Friday, April 25th. Piper Sandler reduced their price objective on shares of Independent Bank from $38.00 to $36.00 and set a "neutral" rating for the company in a research report on Monday.
Read Our Latest Stock Analysis on Independent Bank
Independent Bank Stock Up 2.0 %
Independent Bank stock traded up $0.63 during trading on Monday, hitting $31.30. 6,209 shares of the company were exchanged, compared to its average volume of 107,906. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.18. The business's 50 day moving average is $30.76 and its 200 day moving average is $33.96. Independent Bank has a 52 week low of $22.53 and a 52 week high of $40.32. The company has a market capitalization of $656.35 million, a P/E ratio of 9.90 and a beta of 0.85.
Independent Bank Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Monday, May 5th will be paid a $0.26 dividend. The ex-dividend date is Monday, May 5th. This represents a $1.04 dividend on an annualized basis and a yield of 3.32%. Independent Bank's dividend payout ratio (DPR) is presently 33.12%.
Insider Transactions at Independent Bank
In related news, Director Michael M. Magee, Jr. sold 6,404 shares of the company's stock in a transaction that occurred on Tuesday, April 29th. The stock was sold at an average price of $31.00, for a total value of $198,524.00. Following the transaction, the director now owns 8,381 shares in the company, valued at approximately $259,811. This represents a 43.31 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 5.68% of the company's stock.
Institutional Trading of Independent Bank
Hedge funds have recently made changes to their positions in the company. Versant Capital Management Inc increased its holdings in Independent Bank by 408.6% in the 1st quarter. Versant Capital Management Inc now owns 890 shares of the financial services provider's stock worth $27,000 after acquiring an additional 715 shares during the last quarter. Aquatic Capital Management LLC purchased a new stake in shares of Independent Bank during the 4th quarter valued at approximately $42,000. Tower Research Capital LLC TRC boosted its holdings in Independent Bank by 246.7% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,439 shares of the financial services provider's stock worth $50,000 after buying an additional 1,024 shares during the period. Quantbot Technologies LP purchased a new position in Independent Bank in the 4th quarter valued at approximately $58,000. Finally, Point72 Asset Management L.P. bought a new stake in Independent Bank during the 4th quarter valued at $59,000. 79.43% of the stock is currently owned by institutional investors.
About Independent Bank
(
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Independent Bank Corporation operates as the bank holding company for Independent Bank that provides commercial banking services to individuals and businesses in rural and suburban communities in Michigan. It offers checking and savings accounts, commercial lending, direct and indirect consumer financing, mortgage lending, and safe deposit box services.
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