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NASDAQ:IBCP

Independent Bank (IBCP) Stock Forecast, Price & News

$18.14
-0.01 (-0.06%)
(As of 09/28/2023 ET)
Compare
Today's Range
$18.09
$18.44
50-Day Range
$18.07
$21.26
52-Week Range
$14.90
$24.97
Volume
50,789 shs
Average Volume
83,683 shs
Market Capitalization
$379.92 million
P/E Ratio
6.41
Dividend Yield
5.07%
Price Target
$25.00

Independent Bank MarketRank™ Forecast

Analyst Rating
Hold
2.00 Rating Score
Upside/​Downside
37.8% Upside
$25.00 Price Target
Short Interest
Healthy
0.94% of Float Sold Short
Dividend Strength
Strong
Based on Four Factors
Sustainability
N/A
News Sentiment
0.68mentions of Independent Bank in the last 14 days
Based on 6 Articles This Week
Insider Trading
Selling Shares
$4,489 Sold Last Quarter
Proj. Earnings Growth
-3.91%
From $2.56 to $2.46 Per Share

Overall MarketRank

MarketRank is calculated as an average of available category scores, with extra weight given to analysis and valuation.

2.64 out of 5 stars

Finance Sector

284th out of 877 stocks

State Commercial Banks Industry

76th out of 186 stocks


IBCP stock logo

About Independent Bank (NASDAQ:IBCP) Stock

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 across Lower Michigan. It offers checking and savings accounts, commercial lending, direct and indirect consumer financing, mortgage lending, and safe deposit box services. The company also provides title insurance services and investment services. Independent Bank Corporation was founded in 1864 and is based in Grand Rapids, Michigan.

IBCP Price History

IBCP Stock News Headlines

WARNING: Mandatory U.S. Dollar Recall is Weeks Away
If you have any U.S. dollars in your bank account… You must see this shocking video exposing the government’s new plan to recall the U.S. dollar. According to Business Insider, this recall “could be imminent.” And if you don’t prepare now, you could end up holding a bunch of worthless U.S. dollars.
Disturbing Truth About Biden's New Program To Seize Your Cash
A former bank regulator is blowing the whistle on Biden's frightening plan to take over your money. Discover the immediate steps you need to take now.
IBCP Independent Bank Corporation
See More Headlines
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IBCP Company Calendar

Last Earnings
7/25/2023
Ex-Dividend for 8/14 Dividend
8/03/2023
Dividend Payable
8/14/2023
Today
9/28/2023
Next Earnings (Confirmed)
10/24/2023
Fiscal Year End
12/31/2023

Industry, Sector and Symbol

Industry
State commercial banks
Sub-Industry
N/A
Sector
Finance
Current Symbol
NASDAQ:IBCP
Employees
803
Year Founded
N/A

Price Target and Rating

Average Stock Price Forecast
$25.00
High Stock Price Forecast
$26.00
Low Stock Price Forecast
$24.00
Forecasted Upside/Downside
+37.8%
Consensus Rating
Hold
Rating Score (0-4)
2.00
Research Coverage
2 Analysts

Profitability

Net Income
$63.35 million
Pretax Margin
28.20%

Debt

Sales & Book Value

Annual Sales
$204.87 million
Cash Flow
$3.53 per share
Book Value
$16.50 per share

Miscellaneous

Free Float
19,803,000
Market Cap
$379.92 million
Optionable
Optionable
Beta
0.97
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Key Executives

  • Mr. William Bradford Kessel CPA (Age 59)
    CPA, Pres, CEO & Director
    Comp: $956.66k
  • Mr. Gavin A. Mohr (Age 39)
    CFO, Exec. VP, Treasurer & Corp. Sec.
    Comp: $480.28k
  • Ms. Stefanie M. KimballMs. Stefanie M. Kimball (Age 63)
    Exec. VP & Chief Risk Officer
    Comp: $493.75k
  • Mr. Patrick J. Ervin (Age 57)
    Exec. VP of Mortgage Banking
    Comp: $494.58k
  • Mr. Joel F. Rahn (Age 57)
    Exec. VP of Commercial Lending & Chief Lending Officer
    Comp: $474.29k
  • Mr. Larry Russ Daniel Jr. (Age 59)
    Exec. VP of Operations & Digital Banking
  • Mr. James J. TwarozynskiMr. James J. Twarozynski (Age 58)
    Sr. VP, Chief Accounting Officer & Controller
  • Ms. Laurinda M. Neve (Age 71)
    Sr. VP of HR
  • Ms. Darcy J. Benjamin
    Accounting Officer













IBCP Stock - Frequently Asked Questions

Should I buy or sell Independent Bank stock right now?

2 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for Independent Bank in the last twelve months. There are currently 2 hold ratings for the stock. The consensus among Wall Street research analysts is that investors should "hold" IBCP shares. A hold rating indicates that analysts believe investors should maintain any existing positions they have in IBCP, but not buy additional shares or sell existing shares.
View IBCP analyst ratings
or view top-rated stocks.

What is Independent Bank's stock price forecast for 2023?

2 equities research analysts have issued 12-month target prices for Independent Bank's stock. Their IBCP share price forecasts range from $24.00 to $26.00. On average, they predict the company's share price to reach $25.00 in the next twelve months. This suggests a possible upside of 37.8% from the stock's current price.
View analysts price targets for IBCP
or view top-rated stocks among Wall Street analysts.

How have IBCP shares performed in 2023?

Independent Bank's stock was trading at $23.92 at the beginning of the year. Since then, IBCP stock has decreased by 24.2% and is now trading at $18.14.
View the best growth stocks for 2023 here
.

Are investors shorting Independent Bank?

Independent Bank saw a increase in short interest in the month of September. As of September 15th, there was short interest totaling 189,100 shares, an increase of 6.8% from the August 31st total of 177,100 shares. Based on an average trading volume of 63,800 shares, the days-to-cover ratio is currently 3.0 days. Currently, 0.9% of the shares of the company are short sold.
View Independent Bank's Short Interest
.

When is Independent Bank's next earnings date?

The company is scheduled to release its next quarterly earnings announcement on Tuesday, October 24th 2023.
View our IBCP earnings forecast
.

How can I listen to Independent Bank's earnings call?

Independent Bank will be holding an earnings conference call on Tuesday, October 24th at 11:00 AM Eastern. Interested parties can register for or listen to the call using this link or dial in at 866-813-9403 with passcode "103128".

How were Independent Bank's earnings last quarter?

Independent Bank Co. (NASDAQ:IBCP) posted its quarterly earnings results on Tuesday, July, 25th. The financial services provider reported $0.70 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.60 by $0.10. The financial services provider had revenue of $53.77 million for the quarter, compared to analyst estimates of $50.60 million. Independent Bank had a trailing twelve-month return on equity of 16.91% and a net margin of 22.96%.

How often does Independent Bank pay dividends? What is the dividend yield for Independent Bank?

Independent Bank declared a quarterly dividend on Tuesday, July 18th. Shareholders of record on Friday, August 4th will be paid a dividend of $0.23 per share on Monday, August 14th. This represents a $0.92 dividend on an annualized basis and a yield of 5.07%. The ex-dividend date is Thursday, August 3rd.
Read our dividend analysis for IBCP
.

What ETF holds Independent Bank's stock ?

JPMorgan Active Small Cap Value ETF holds 7,127 shares of IBCP stock, representing 1.11% of its portfolio.

Is Independent Bank a good dividend stock?

Independent Bank (NASDAQ:IBCP) pays an annual dividend of $0.92 per share and currently has a dividend yield of 5.00%. IBCP has a dividend yield higher than 75% of all dividend-paying stocks, making it a leading dividend payer. The company has been increasing its dividend for 9 consecutive years, indicating the company has a new, but growing committment to grow its dividend. The dividend payout ratio is 32.51%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, IBCP will have a dividend payout ratio of 37.40% next year. This indicates that the company will be able to sustain or increase its dividend.
Read our dividend analysis for IBCP.

What is William "Brad" Kessel's approval rating as Independent Bank's CEO?

15 employees have rated Independent Bank Chief Executive Officer William "Brad" Kessel on Glassdoor.com. William "Brad" Kessel has an approval rating of 95% among the company's employees. This puts William "Brad" Kessel in the top 30% of approval ratings compared to other CEOs of publicly-traded companies.

What other stocks do shareholders of Independent Bank own?

Based on aggregate information from My MarketBeat watchlists, some companies that other Independent Bank investors own include Endologix (ELGX), Chipotle Mexican Grill (CMG), Pfizer (PFE), Aegean Marine Petroleum Network (ANW), Occidental Petroleum (OXY), Pentair (PNR), Citigroup (C), NextEra Energy Partners (NEP) and

What is Independent Bank's stock symbol?

Independent Bank trades on the NASDAQ under the ticker symbol "IBCP."

Who are Independent Bank's major shareholders?

Independent Bank's stock is owned by a number of retail and institutional investors. Top institutional shareholders include BlackRock Inc. (13.94%), Dimensional Fund Advisors LP (4.53%), State Street Corp (3.12%), Renaissance Technologies LLC (2.86%), LSV Asset Management (2.73%) and JPMorgan Chase & Co. (2.41%). Insiders that own company stock include Christina Keller, Dennis W Archer Jr, Gavin A Mohr, James J Twarozynski, Michael M Magee Jr, Ronia F Kruse, Stefanie M Kimball, Stefanie M Kimball and Terance L Beia.
View institutional ownership trends
.

How do I buy shares of Independent Bank?

Shares of IBCP stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include WeBull, Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab.
Compare Top Brokerages Here.

What is Independent Bank's stock price today?

One share of IBCP stock can currently be purchased for approximately $18.14.

How much money does Independent Bank make?

Independent Bank (NASDAQ:IBCP) has a market capitalization of $379.92 million and generates $204.87 million in revenue each year. The financial services provider earns $63.35 million in net income (profit) each year or $2.83 on an earnings per share basis.

How many employees does Independent Bank have?

The company employs 803 workers across the globe.

How can I contact Independent Bank?

Independent Bank's mailing address is 4200 E BELTLINE, GRAND RAPIDS MI, 49525. The official website for the company is www.independentbank.com. The financial services provider can be reached via phone at (616) 527-5820, via email at rshuster@ibcp.com, or via fax at 616-527-4004.

This page (NASDAQ:IBCP) was last updated on 9/28/2023 by MarketBeat.com Staff

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