Independent Bank (IBCP) Expected to Announce Quarterly Earnings on Thursday

Independent Bank (NASDAQ:IBCP - Get Free Report) is projected to issue its Q2 2025 quarterly earnings data before the market opens on Thursday, July 24th. Analysts expect the company to announce earnings of $0.78 per share and revenue of $47.72 million for the quarter.

Independent Bank (NASDAQ:IBCP - Get Free Report) last announced its earnings results on Thursday, April 24th. The financial services provider reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.70 by $0.04. Independent Bank had a return on equity of 14.71% and a net margin of 20.62%. The business had revenue of $54.11 million during the quarter, compared to analyst estimates of $46.25 million. On average, analysts expect Independent Bank to post $3 EPS for the current fiscal year and $3 EPS for the next fiscal year.

Independent Bank Trading Down 0.7%

Shares of Independent Bank stock traded down $0.23 on Friday, hitting $34.13. 75,971 shares of the company traded hands, compared to its average volume of 102,497. The stock's 50 day moving average price is $32.29 and its 200-day moving average price is $32.44. The company has a current ratio of 0.91, a quick ratio of 0.90 and a debt-to-equity ratio of 0.27. Independent Bank has a 52 week low of $26.75 and a 52 week high of $40.32. The company has a market cap of $707.17 million, a PE ratio of 10.87 and a beta of 0.84.

Independent Bank Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Monday, May 5th were paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 3.05%. The ex-dividend date was Monday, May 5th. Independent Bank's dividend payout ratio (DPR) is 33.12%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on IBCP shares. Piper Sandler lowered their target price on shares of Independent Bank from $38.00 to $36.00 and set a "neutral" rating for the company in a research note on Monday, April 28th. Keefe, Bruyette & Woods decreased their price target on shares of Independent Bank from $37.00 to $35.00 and set a "market perform" rating for the company in a report on Friday, April 25th.

Insider Buying and Selling at Independent Bank

In related news, Director Terance L. Beia acquired 1,821 shares of Independent Bank stock in a transaction on Friday, June 13th. The stock was bought at an average cost of $30.65 per share, for a total transaction of $55,813.65. Following the completion of the transaction, the director owned 40,001 shares of the company's stock, valued at approximately $1,226,030.65. The trade was a 4.77% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Michael M. Magee, Jr. sold 6,404 shares of the company's stock in a transaction on Tuesday, April 29th. The stock was sold at an average price of $31.00, for a total transaction of $198,524.00. Following the sale, the director directly owned 8,381 shares of the company's stock, valued at $259,811. The trade was a 43.31% decrease in their position. The disclosure for this sale can be found here. 5.68% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Independent Bank

A number of large investors have recently modified their holdings of the business. Jane Street Group LLC boosted its position in shares of Independent Bank by 65.5% during the 1st quarter. Jane Street Group LLC now owns 23,640 shares of the financial services provider's stock valued at $728,000 after acquiring an additional 9,355 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Independent Bank by 24.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 71,115 shares of the financial services provider's stock valued at $2,190,000 after acquiring an additional 13,926 shares in the last quarter. Goldman Sachs Group Inc. grew its position in Independent Bank by 4.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 298,986 shares of the financial services provider's stock valued at $9,206,000 after acquiring an additional 12,855 shares in the last quarter. Millennium Management LLC boosted its stake in shares of Independent Bank by 469.8% in the 1st quarter. Millennium Management LLC now owns 130,953 shares of the financial services provider's stock valued at $4,032,000 after buying an additional 107,972 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Independent Bank by 4.1% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,816 shares of the financial services provider's stock valued at $364,000 after buying an additional 464 shares during the period. Hedge funds and other institutional investors own 79.43% of the company's stock.

About Independent Bank

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.