Independent Bank Corporation Company Profile (NASDAQ:IBCP)

About Independent Bank Corporation

Independent Bank Corporation logoIndependent Bank Corporation is a bank holding company. The Company owns all of the outstanding stock of Independent Bank (the Bank). The Bank is engaged in providing commercial banking. The Bank offers a range of banking services to individuals and businesses, including checking and savings accounts, commercial lending, direct and indirect consumer financing, mortgage lending and safe deposit box services. The Company's principal markets are the rural and suburban communities across Lower Michigan, which are served by the Bank's main office in Grand Rapids, Michigan, and a total of approximately 60 branches, over one drive-in facility and approximately eight loan production offices. The Bank's branches provide lobby and drive-in services, as well as automatic teller machines (ATMs). In addition to general banking services, its Bank also offers title insurance services and investment services.

Industry, Sector and Symbol:
  • Sector: Finance
  • Industry: Regional - Midwest Banks
  • Sub-Industry: N/A
  • Exchange: NASDAQ
  • Symbol: IBCP
  • CUSIP:
Key Metrics:
  • Previous Close: $22.20
  • 50 Day Moving Average: $21.24
  • 200 Day Moving Average: $18.58
  • 52-Week Range: $13.42 - $22.40
  • Trailing P/E Ratio: 21.14
  • Foreward P/E Ratio: 16.69
  • P/E Growth: 3.72
  • Market Cap: $471.93M
  • Outstanding Shares: 21,258,000
  • Beta: 0.29
Profitability:
  • Net Margins: 17.67%
  • Return on Equity: 9.26%
  • Return on Assets: 0.91%
Debt:
  • Debt-to-Equity Ratio: 0.19%
  • Current Ratio: 0.79%
  • Quick Ratio: 0.77%
Additional Links:
Companies Related to Independent Bank Corporation:

Analyst Ratings

Consensus Ratings for Independent Bank Corporation (NASDAQ:IBCP) (?)
Ratings Breakdown: 2 Hold Ratings
Consensus Rating:Hold (Score: 2.00)
Consensus Price Target: $17.50 (21.17% downside)

Analysts' Ratings History for Independent Bank Corporation (NASDAQ:IBCP)
Show:
DateFirmActionRatingPrice TargetDetails
9/23/2016Hovde GroupInitiated CoverageMarket Perform$17.50View Rating Details
5/4/2016Boenning ScattergoodInitiated CoverageNeutralView Rating Details
8/11/2015FIG PartnersDowngradeOutperform -> Market PerformView Rating Details
7/28/2015Keefe, Bruyette & WoodsBoost Price TargetMarket Perform$13.00 -> $14.00View Rating Details
(Data available from 2/24/2015 forward)

Earnings

Earnings History for Independent Bank Corporation (NASDAQ:IBCP)
DateQuarterConsensus EstimateActual EPSRevenue EstimateActual RevenueRelease LinkConference CallDetails
4/24/2017        
1/26/2017Q4 2016$0.27$0.27ViewN/AView Earnings Details
10/27/2016Q3$0.26$0.30ViewListenView Earnings Details
7/28/2016Q216$0.25$0.30$24.60 millionViewListenView Earnings Details
4/25/2016Q1$0.20$0.19ViewListenView Earnings Details
1/25/2016Q4$0.22$0.25ViewListenView Earnings Details
10/29/2015Q315$0.23$0.22$19.27 millionViewListenView Earnings Details
7/27/2015Q115$0.20$0.24$18.50 millionViewListenView Earnings Details
4/20/2015Q414$0.15$0.16$17.90 millionViewN/AView Earnings Details
1/23/2015Q314$0.18$0.17$18.20 millionViewN/AView Earnings Details
10/27/2014Q3$0.21$0.21ViewListenView Earnings Details
7/28/2014Q214$0.18$0.26$28.70 millionViewN/AView Earnings Details
4/21/2014Q114$0.16$0.13$28.90 millionViewN/AView Earnings Details
1/30/2014Q413$0.26$0.21$31.91 millionViewN/AView Earnings Details
10/30/2013$0.26$0.17ViewN/AView Earnings Details
(Data available from 1/1/2011 forward)

Estimates

Earnings Estimates for Independent Bank Corporation (NASDAQ:IBCP)
Current Year EPS Consensus Estimate: $1.16 EPS
Next Year EPS Consensus Estimate: $1.33 EPS
QuarterNumber of EstimatesLow EstimateHigh EstimateAverage Estimate
Q1 20162$0.21$0.22$0.22
Q2 20163$0.23$0.27$0.25
Q3 20162$0.25$0.27$0.26
Q4 20162$0.27$0.27$0.27
Q1 20172$0.27$0.27$0.27
Q2 20172$0.27$0.28$0.28
Q3 20172$0.29$0.30$0.30
Q4 20172$0.30$0.30$0.30
(Data provided by Zacks Investment Research)

Dividends

Current Dividend Information for Independent Bank Corporation (NASDAQ:IBCP)
Annual Dividend:$0.40
Dividend Yield:1.80%
Payout Ratio:37.74% (Based on Trailing 12 Months of Earnings)
34.48% (Based on Current Year Consensus EPS Estimate)
30.08% (Based on Next Year Consensus EPS Estimate)

Dividend History for Independent Bank Corporation (NASDAQ:IBCP)
AnnouncedPeriodAmountYieldEx-Dividend DateRecord DatePayable Date
1/24/2017quarterly$0.101.9%2/6/20172/8/20172/15/2017
10/25/2016quarterly$0.1011/3/201611/7/201611/15/2016
7/26/2016quarterly$0.088/4/20168/8/20168/15/2016
4/26/2016quarterly$0.085/4/20165/6/20165/16/2016
1/22/2016quarterly$0.082/3/20162/5/20162/16/2016
10/29/2015quarterly$0.0811/5/201511/9/201511/16/2015
7/27/2015quarterly$0.068/5/20158/7/20158/17/2015
4/22/2015quarterly$0.061.83%5/1/20155/5/20155/15/2015
1/21/2015quarterly$0.061.9%2/4/20152/6/20152/17/2015
10/28/2014quarterly$0.061.98%11/5/201411/7/201411/17/2014
7/22/2014quarterly$0.061.94%8/1/20148/5/20148/15/2014
4/16/2014quarterly$0.064/28/20144/30/20145/15/2014
(Data available from 1/1/2013 forward)

Insider Trades

Insider Trading History for Independent Bank Corporation (NASDAQ:IBCP)
Insider Ownership Percentage: 5.38%
Institutional Ownership Percentage: 79.98%
Transaction DateInsider NameTitleBuy/SellNumber of SharesAverage Share PriceTotal TransactionDetails
2/9/2017Robert N ShusterInsiderSell5,660$20.71$117,218.60View SEC Filing  
2/3/2017James J TwarozynskiInsiderSell1,000$21.41$21,410.00View SEC Filing  
12/7/2016David C ReglinInsiderSell127$19.66$2,496.82View SEC Filing  
11/10/2016Terry L HaskeDirectorSell764$16.88$12,896.32View SEC Filing  
9/1/2016Michael M Magee JrDirectorBuy6,082$16.37$99,562.34View SEC Filing  
8/30/2016Mark L CollinsInsiderSell2,000$16.37$32,740.00View SEC Filing  
5/31/2016Stefanie M KimballEVPSell3,000$14.85$44,550.00View SEC Filing  
5/25/2016James J TwarozynskiSVPSell1,000$15.03$15,030.00View SEC Filing  
3/15/2016William B KesselCEOSell1,500$14.63$21,945.00View SEC Filing  
11/20/2015Dennis J. MackEVPSell4,200$15.05$63,210.00View SEC Filing  
9/29/2015Mark L. CollinsEVPSell3,153$14.89$46,948.17View SEC Filing  
9/25/2015Joan A. BuddenDirectorBuy5,065$14.85$75,215.25View SEC Filing  
9/25/2015Mark L. CollinsEVPSell2,047$14.87$30,438.89View SEC Filing  
9/24/2015David C. ReglinEVPSell3,877$14.61$56,642.97View SEC Filing  
9/16/2015William B. KesselCEOSell5,000$14.15$70,750.00View SEC Filing  
9/10/2015Robert N. ShusterEVPSell4,200$14.11$59,262.00View SEC Filing  
9/9/2015Stefanie M. KimballEVPSell3,000$14.14$42,420.00View SEC Filing  
6/18/2014Michael M Magee JrChairmanSell24,864$12.91$320,994.24View SEC Filing  
6/17/2014Michael M Magee JrChairmanSell9,113$12.86$117,193.18View SEC Filing  
6/16/2014Michael M Magee JrChairmanSell3,523$12.90$45,446.70View SEC Filing  
6/13/2014Michael M Magee JrChairmanSell7,500$12.87$96,525.00View SEC Filing  
6/12/2014Michael M Magee JrChairmanSell25,000$12.88$322,000.00View SEC Filing  
5/29/2014Stephen L Gulis JrDirectorSell7,167$12.90$92,454.30View SEC Filing  
5/23/2014Stephen L Gulis JrDirectorSell1,822$12.90$23,503.80View SEC Filing  
5/21/2014Stephen L Gulis JrDirectorSell6,352$12.90$81,940.80View SEC Filing  
5/5/2014Stefanie M KimballEVPSell1,500$12.65$18,975.00View SEC Filing  
8/28/2013David C ReglinEVPBuy3,225$7.75$24,993.75View SEC Filing  
8/28/2013Dennis J MackSVPBuy1,000$7.75$7,750.00View SEC Filing  
8/28/2013Loan Charles C VanDirectorBuy3,000$7.75$23,250.00View SEC Filing  
8/28/2013Michael M Magee JrChairmanBuy1,290$7.75$9,997.50View SEC Filing  
5/29/2013Stephen L Gulis JrDirectorSell1,018$6.30$6,413.40View SEC Filing  
11/2/2012William J BoerDirectorBuy11,500$3.45$39,675.00View SEC Filing  
(Data available from 1/1/2013 forward)

Headlines

Latest Headlines for Independent Bank Corporation (NASDAQ:IBCP)
DateHeadline
capitalcube.com logoIndependent Bank Corp. (Michigan) breached its 50 day moving average in a Bullish Manner : IBCP-US : February 14, 2017 (NASDAQ:IBCP)
www.capitalcube.com - February 14 at 7:11 PM
News IconExecutive Vice President of Independent Bank Corporation (NASDAQ:IBCP), Shuster Robert N, sells 5,660 shares worth $117,246 (NASDAQ:IBCP)
empowerednews.net - February 9 at 11:45 PM
nasdaq.com logoIndependent Bank Corporation (IBCP) Ex-Dividend Date... (NASDAQ:IBCP)
www.nasdaq.com - February 3 at 6:21 PM
capitalcube.com logoETFs with exposure to Independent Bank Corp. (Michigan) : February 2, 2017 (NASDAQ:IBCP)
www.capitalcube.com - February 2 at 6:29 PM
capitalcube.com logoIndependent Bank Corp. (Michigan) :IBCP-US: Earnings Analysis: Q4, 2016 By the Numbers : February 1, 2017 (NASDAQ:IBCP)
www.capitalcube.com - February 1 at 6:33 PM
capitalcube.com logoIndependent Bank Corp. (Michigan) :IBCP-US: Earnings Analysis: 2016 By the Numbers : January 31, 2017 (NASDAQ:IBCP)
www.capitalcube.com - January 31 at 6:35 PM
biz.yahoo.com logoQ4 2016 Independent Bank Corp Earnings Release - Before Market Open (NASDAQ:IBCP)
us.rd.yahoo.com - January 28 at 5:57 AM
us.rd.yahoo.com logo8:06 am Independent Bank reports Q4 EPS in-line with Consensus (NASDAQ:IBCP)
us.rd.yahoo.com - January 28 at 5:57 AM
News IconIndependent Bank Earnings Rise 5% In Q4 (NASDAQ:IBCP)
diy-home-garden.com - January 27 at 5:30 AM
News IconIndependent Bank reports growth for 2016 (NASDAQ:IBCP)
mibiz.com - January 27 at 12:28 AM
finance.yahoo.com logoIndependent Bank posts 4Q profit (NASDAQ:IBCP)
in.finance.yahoo.com - January 26 at 7:28 PM
4-traders.com logoINDEPENDENT BANK CORP /MI/ : Results of Operations and Financial Condition, Financial Statements and Exhibits (form 8-K) (NASDAQ:IBCP)
www.4-traders.com - January 26 at 7:28 PM
globenewswire.com logoIndependent Bank Corporation Reports 2016 Fourth Quarter and Full Year Results and 2017 Share Repurchase Authorization (NASDAQ:IBCP)
globenewswire.com - January 26 at 7:28 PM
biz.yahoo.com logoINDEPENDENT BANK CORP /MI/ Files SEC form 8-K, Results of Operations and Financial Condition, Financial Statements an (NASDAQ:IBCP)
biz.yahoo.com - January 26 at 7:27 PM
News IconAnalysts Watch Mercantile Bank Corporation (NASDAQ:MBWM) And Issue New Targets (NASDAQ:IBCP)
perspectivabetica.com - January 26 at 5:15 AM
News IconIndependent Bank Corp. (NASDAQ:INDB) Valuation According To Analysts (NASDAQ:IBCP)
xboxonezone.com - January 26 at 5:15 AM
News IconIndependent Bank Corporation (IBCP) to Release Quarterly Earnings on Thursday (NASDAQ:IBCP)
cote-ivoire.com - January 26 at 5:15 AM
feeds.benzinga.com logoIndependent Bank Corporation Announces Quarterly Cash Dividend on Common Stock (NASDAQ:IBCP)
feeds.benzinga.com - January 24 at 12:28 PM
News IconIndependent Bank Corp. (NASDAQ:INDB) Broker Price Targets For The Coming Week (NASDAQ:IBCP)
larampadinapoli.com - January 22 at 5:40 PM
News IconBody Central Corp. (BODY) Reviewed By Analysts (NASDAQ:IBCP)
xboxonezone.com - January 19 at 7:35 PM
sg.finance.yahoo.com logoIndependent Bank Corp. posts 4Q profit (NASDAQ:IBCP)
sg.finance.yahoo.com - January 19 at 7:34 PM
capitalcube.com logoIndependent Bank Corp. (Michigan) : IBCP-US: Dividend Analysis : November 07th, 2016 (record date) : By the numbers : January 6, 2017 (NASDAQ:IBCP)
www.capitalcube.com - January 6 at 6:26 PM
publicnow.com logoIndependent Bank Corporation Announces Date for Its Fourth Quarter 2016 Earnings Release (NASDAQ:IBCP)
www.publicnow.com - December 22 at 6:07 PM
News IconWould You Buy Independent Bank Corp. (NASDAQ:INDB) On These Analyst Ratings? (NASDAQ:IBCP)
www.perspectivabetica.com - December 21 at 11:40 PM
News IconThe Independent Bank Corp. (INDB) To Go Ex-Dividend on December 21st (NASDAQ:IBCP)
canalcncarauca.com - December 21 at 11:40 PM
streetinsider.com logoIndependent Bank (IBCP) Appoints Christina Keller to Board of Directors (NASDAQ:IBCP)
www.streetinsider.com - December 21 at 11:40 PM
biz.yahoo.com logoINDEPENDENT BANK CORP /MI/ Files SEC form 8-K, Change in Directors or Principal Officers, Financial Statements and Ex (NASDAQ:IBCP)
us.rd.yahoo.com - December 20 at 11:11 AM
publicnow.com logoIndependent Bank Corporation announces appointment of Christina Keller to its Board of Directors (NASDAQ:IBCP)
www.publicnow.com - December 20 at 11:11 AM
capitalcube.com logoETFs with exposure to Independent Bank Corp. (Michigan) : December 14, 2016 (NASDAQ:IBCP)
www.capitalcube.com - December 14 at 6:29 PM
News IconDirector of Independent Bank Corporation (NASDAQ:IBCP), Haske Terry L, sells 764 shares worth $12,893 (NASDAQ:IBCP)
empowerednews.net - November 14 at 5:49 PM
finance.yahoo.com logoINDEPENDENT BANK CORP /MI/ Financials (NASDAQ:IBCP)
finance.yahoo.com - November 10 at 4:57 PM
publicnow.com logoIndependent Bank Corp. Announces Completion of New England Bancorp, Inc. Acquisition (NASDAQ:IBCP)
www.publicnow.com - November 10 at 4:57 PM
publicnow.com logoIndependent Bank Corp. and Rockland Trust Company Appoint Mary L. Lentz to Board of Directors (NASDAQ:IBCP)
www.publicnow.com - November 7 at 5:52 PM
capitalcube.com logoETF’s with exposure to Independent Bank Corp. (Michigan) : October 31, 2016 (NASDAQ:IBCP)
www.capitalcube.com - October 31 at 5:38 PM
capitalcube.com logoIndependent Bank Corp. (Michigan) :IBCP-US: Earnings Analysis: Q3, 2016 By the Numbers : October 28, 2016 (NASDAQ:IBCP)
www.capitalcube.com - October 28 at 5:25 PM
finance.yahoo.com logoEdited Transcript of IBCP earnings conference call or presentation 27-Oct-16 3:00pm GMT (NASDAQ:IBCP)
finance.yahoo.com - October 28 at 8:52 AM
publicnow.com logoIndependent Bank Corporation Announces a 25% Increase in Its Quarterly Cash Dividend on Common Stock (NASDAQ:IBCP)
www.publicnow.com - October 25 at 5:36 PM
publicnow.com logoIndependent Bank 'Made a Difference' in Local Communities (NASDAQ:IBCP)
www.publicnow.com - October 17 at 5:30 PM
publicnow.com logoIndependent Bank Corp. and New England Bancorp, Inc. Report Receipt of Regulatory Approvals and Anticipated Closing Date (NASDAQ:IBCP)
www.publicnow.com - October 17 at 5:30 PM
capitalcube.com logoIndependent Bank Corp. (Michigan) : IBCP-US: Dividend Analysis : August 08th, 2016 (record date) : By the numbers : October 14, 2016 (NASDAQ:IBCP)
www.capitalcube.com - October 14 at 5:25 PM
publicnow.com logoIndependent Bank Corp.’s Third Quarter Earnings Press Release and Conference Call Announcement (NASDAQ:IBCP)
www.publicnow.com - October 7 at 5:23 PM
publicnow.com logoIndependent Bank Corporation Announces Date for Its Third Quarter 2016 Earnings Release (NASDAQ:IBCP)
www.publicnow.com - September 28 at 10:24 AM
capitalcube.com logoETF’s with exposure to Independent Bank Corp. (Michigan) : September 27, 2016 (NASDAQ:IBCP)
www.capitalcube.com - September 27 at 5:30 PM
finance.yahoo.com logoCoverage initiated on Independent Bank by Hovde Group (NASDAQ:IBCP)
finance.yahoo.com - September 23 at 5:11 PM
publicnow.com logoIndependent Bank Corp. Announces Quarterly Dividend (NASDAQ:IBCP)
www.publicnow.com - September 15 at 5:53 PM
publicnow.com logoIndependent Bank Corporation Announces Appointment of Patrick Ervin as Senior Vice President Mortgage Banking (NASDAQ:IBCP)
www.publicnow.com - September 12 at 10:15 AM
publicnow.com logoIndependent Bank announces phase three of Investing In Youth campaign (NASDAQ:IBCP)
www.publicnow.com - September 9 at 5:20 PM
capitalcube.com logoIndependent Bank Corp. (Michigan) :IBCP-US: Earnings Analysis: Q2, 2016 By the Numbers : August 5, 2016 (NASDAQ:IBCP)
www.capitalcube.com - August 5 at 5:40 PM
finance.yahoo.com logoEdited Transcript of IBCP earnings conference call or presentation 28-Jul-16 3:00pm GMT (NASDAQ:IBCP)
finance.yahoo.com - July 29 at 10:58 AM
publicnow.com logoIndependent Bank Corporation Reports 2016 Second Quarter Results (NASDAQ:IBCP)
www.publicnow.com - July 28 at 8:28 AM

Social

What is Independent Bank Corporation's stock symbol?

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

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

Independent Bank Corporation declared a quarterly dividend on Tuesday, January 24th. Shareholders of record on Wednesday, February 8th will be given a dividend of $0.10 per share on Wednesday, February 15th. This represents a $0.40 dividend on an annualized basis and a yield of 1.80%. The ex-dividend date of this dividend is Monday, February 6th.

Where is Independent Bank Corporation's stock going? Where will Independent Bank Corporation's stock price be in 2017?

2 analysts have issued 12-month target prices for Independent Bank Corporation's stock. Their forecasts range from $17.50 to $17.50. On average, they anticipate Independent Bank Corporation's share price to reach $17.50 in the next year.

When will Independent Bank Corporation announce their earnings?

Independent Bank Corporation is scheduled to release their next quarterly earnings announcement on Monday, April, 24th 2017.

Who owns Independent Bank Corporation stock?

Independent Bank Corporation's stock is owned by a number of of retail and institutional investors. Top institutional investors include Basswood Capital Management L.L.C. (4.88%), Maltese Capital Management LLC (4.34%), Renaissance Technologies LLC (3.50%), FMR LLC (3.10%), FJ Capital Management LLC (1.96%) and State Street Corp (1.92%). Company insiders that own Independent Bank Corporation stock include David C Reglin, Dennis J Mack, James J Twarozynski, Joan A Budden, Mark L Collins, Michael M Magee Jr, Robert N Shuster, Stefanie M Kimball, Terry L Haske and William B Kessel.

Who sold Independent Bank Corporation stock? Who is selling Independent Bank Corporation stock?

Independent Bank Corporation's stock was sold by a variety of institutional investors in the last quarter, including FMR LLC, Maltese Capital Management LLC, Dimensional Fund Advisors LP, AQR Capital Management LLC, O Shaughnessy Asset Management LLC, Two Sigma Investments LP and Stieven Capital Advisors L.P.. Company insiders that have sold Independent Bank Corporation stock in the last year include David C Reglin, James J Twarozynski, Mark L Collins, Robert N Shuster, Stefanie M Kimball, Terry L Haske and William B Kessel.

Who bought Independent Bank Corporation stock? Who is buying Independent Bank Corporation stock?

Independent Bank Corporation's stock was bought by a variety of institutional investors in the last quarter, including Russell Investments Group Ltd., Renaissance Technologies LLC, Martingale Asset Management L P, Numeric Investors LLC, A.R.T. Advisors LLC, Cigna Investments Inc. New, State Street Corp and Bessemer Group Inc.. Company insiders that have bought Independent Bank Corporation stock in the last two years include Joan A Budden and Michael M Magee Jr.

How do I buy Independent Bank Corporation stock?

Shares of Independent Bank Corporation can be purchased through any online brokerage account. Popular online brokerages include Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Scottrade, Fidelity and Charles Schwab.

How much does a share of Independent Bank Corporation stock cost?

One share of Independent Bank Corporation stock can currently be purchased for approximately $22.20.

Independent Bank Corporation (NASDAQ:IBCP) Chart for Friday, February, 24, 2017


Institutional Ownership Chart

Institutional Ownership by Quarter for Independent Bank Corporation (NASDAQ:IBCP)

Earnings History Chart

Earnings by Quarter for Independent Bank Corporation (NASDAQ:IBCP)

Dividend History Chart

Dividend Payments by Quarter for Independent Bank Corporation (NASDAQ:IBCP)

Last Updated on 2/24/2017 by MarketBeat.com Staff