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NASDAQ:IBCP

Independent Bank (IBCP) Stock Price, News & Analysis

$26.03
-0.24 (-0.91%)
(As of 05/22/2024 ET)
Today's Range
$25.95
$26.43
50-Day Range
$23.14
$26.48
52-Week Range
$16.26
$27.39
Volume
90,414 shs
Average Volume
86,692 shs
Market Capitalization
$544.03 million
P/E Ratio
8.85
Dividend Yield
3.69%
Price Target
$28.00

Independent Bank MarketRank™ Stock Analysis

Analyst Rating
Hold
2.00 Rating Score
Upside/​Downside
7.6% Upside
$28.00 Price Target
Short Interest
Healthy
1.03% of Float Sold Short
Dividend Strength
Strong
Based on Four Factors
Sustainability
N/A
News Sentiment
N/A
Insider Trading
Selling Shares
$37,500 Sold Last Quarter
Proj. Earnings Growth
1.69%
From $2.95 to $3.00 Per Share

Overall MarketRank

New Rank-Based ScoringMarketRank is calculated by averaging available category scores (with extra weight given to analysis and valuation), then ranking the company's weighted average against that of other companies.

3.52 out of 5 stars

Finance Sector

377th out of 842 stocks

State Commercial Banks Industry

82nd out of 169 stocks

IBCP stock logo

About Independent Bank Stock (NASDAQ:IBCP)

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. The company also provides title insurance services and investment services, as well as automatic teller machines, and internet and mobile banking services. In addition, it operates through branches, drive-thru facilities, and loan production offices. Independent Bank Corporation was founded in 1864 and is based in Grand Rapids, Michigan.

IBCP Stock Price History

IBCP Stock News Headlines

Independent Bank earnings: here's what to expect
Independent Bank: Q1 Earnings Snapshot
Independent Bank Corporation (IBCP)
Independent Bank Corp (Ionia MI)
Independent Bank Corp. (Michigan)
See More Headlines
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Company Calendar

Last Earnings
4/25/2024
Ex-Dividend for 5/13 Dividend
5/02/2024
Dividend Payable
5/13/2024
Today
5/23/2024
Next Earnings (Estimated)
7/23/2024
Fiscal Year End
12/31/2024

Industry, Sector and Symbol

Sector
Finance
Industry
State commercial banks
Sub-Industry
N/A
Current Symbol
NASDAQ:IBCP
Employees
741
Year Founded
N/A

Price Target and Rating

Average Stock Price Target
$28.00
High Stock Price Target
$28.00
Low Stock Price Target
$28.00
Potential Upside/Downside
+7.6%
Consensus Rating
Hold
Rating Score (0-4)
2.00
Research Coverage
2 Analysts

Profitability

Net Income
$59.07 million
Pretax Margin
25.57%

Debt

Sales & Book Value

Annual Sales
$290.35 million
Cash Flow
$3.42 per share
Book Value
$19.88 per share

Miscellaneous

Free Float
19,763,000
Market Cap
$544.03 million
Optionable
Optionable
Beta
0.97
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Key Executives


IBCP Stock Analysis - Frequently Asked Questions

Should I buy or sell Independent Bank stock right now?

2 Wall Street equities research analysts have issued "buy," "hold," and "sell" ratings for Independent Bank in the last year. There are currently 2 hold ratings for the stock. The consensus among Wall Street equities 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 target for 2024?

2 Wall Street research analysts have issued 1-year price objectives for Independent Bank's shares. Their IBCP share price targets range from $28.00 to $28.00. On average, they predict the company's stock price to reach $28.00 in the next twelve months. This suggests a possible upside of 7.6% 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 2024?

Independent Bank's stock was trading at $26.02 at the start of the year. Since then, IBCP stock has increased by 0.0% and is now trading at $26.03.
View the best growth stocks for 2024 here
.

When is Independent Bank's next earnings date?

The company is scheduled to release its next quarterly earnings announcement on Tuesday, July 23rd 2024.
View our IBCP earnings forecast
.

How were Independent Bank's earnings last quarter?

Independent Bank Co. (NASDAQ:IBCP) released its quarterly earnings results on Thursday, April, 25th. The financial services provider reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.11. The financial services provider earned $52.76 million during the quarter, compared to the consensus estimate of $51.50 million. Independent Bank had a net margin of 20.45% and a trailing twelve-month return on equity of 16.55%.

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

Independent Bank announced a quarterly dividend on Tuesday, April 23rd. Investors of record on Friday, May 3rd will be paid a dividend of $0.24 per share on Monday, May 13th. This represents a $0.96 annualized dividend and a dividend yield of 3.69%. The ex-dividend date is Thursday, May 2nd.
Read our dividend analysis for IBCP
.

Is Independent Bank a good dividend stock?

Independent Bank (NASDAQ:IBCP) pays an annual dividend of $0.96 per share and currently has a dividend yield of 3.65%. The company has been increasing its dividend for 10 consecutive years, indicating the company has a strong committment to maintain and grow its dividend. The dividend payout ratio is 32.65%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, IBCP will have a dividend payout ratio of 32.00% next year. This indicates that the company will be able to sustain or increase its dividend.
Read our dividend analysis for IBCP.

What ETFs hold Independent Bank's stock?

ETFs with the largest weight of Independent Bank (NASDAQ:IBCP) stock in their portfolio include JPMorgan Active Small Cap Value ETF (JPSV).First Trust Dow Jones Select Microcap Index Fund (FDM).

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

Who are Independent Bank's major shareholders?

Independent Bank's stock is owned by a number of institutional and retail investors. Top institutional investors include Vanguard Group Inc. (5.17%), LSV Asset Management (2.51%), Allspring Global Investments Holdings LLC (1.98%), Acadian Asset Management LLC (1.59%), PL Capital Advisors LLC (1.53%) and Principal Financial Group Inc. (1.29%). Insiders that own company stock include Christina Keller, Dennis W Archer Jr, Gavin A Mohr, James J Twarozynski, 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 Charles Schwab, E*TRADE, Fidelity, and Vanguard Brokerage Services.
Compare Top Brokerages Here.

This page (NASDAQ:IBCP) was last updated on 5/23/2024 by MarketBeat.com Staff

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