NASDAQ:IBCP - Independent Bank Co.(MI) Stock Price, News, & Analysis

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$22.66 -0.42 (-1.82 %)
(As of 03/19/2019 11:49 AM ET)
Previous Close$23.08
Today's Range$22.61 - $23.02
52-Week Range$20.18 - $27.10
Volume1,634 shs
Average Volume106,920 shs
Market Capitalization$546.33 million
P/E Ratio13.52
Dividend Yield3.13%
Beta0.45
Independent Bank Corporation operates as the bank holding company for Independent Bank that provides various banking services to individuals and businesses in Michigan. The company offers checking and savings accounts, commercial lending, direct and indirect consumer financing, mortgage lending, and safe deposit box services, as well as automatic teller machines, and Internet and mobile banking services. It also provides title insurance, investment, and insurance brokerage services. The company offers its services through approximately 61 branches, 1 drive-thru facility, and 14 loan production offices. Independent Bank Corporation was founded in 1864 and is based in Grand Rapids, Michigan.

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Industry, Sector and Symbol

Industry State commercial banks
Sub-IndustryN/A
SectorFinance
Current SymbolNASDAQ:IBCP
CUSIPN/A
Phone616-527-5820

Debt

Price-To-Earnings

Sales & Book Value

Annual Sales$175.59 million
Cash Flow$1.8758 per share
Book Value$14.06 per share

Profitability

Net Income$39.84 million

Miscellaneous

EmployeesN/A
Market Cap$546.33 million
Next Earnings Date4/22/2019 (Confirmed)
OptionableOptionable

Independent Bank Co.(MI) (NASDAQ:IBCP) Frequently Asked Questions

What is Independent Bank Co.(MI)'s stock symbol?

Independent Bank Co.(MI) trades on the NASDAQ under the ticker symbol "IBCP."

How often does Independent Bank Co.(MI) pay dividends? What is the dividend yield for Independent Bank Co.(MI)?

Independent Bank Co.(MI) announced a quarterly dividend on Monday, January 21st. Stockholders of record on Tuesday, February 5th will be given a dividend of $0.18 per share on Friday, February 15th. This represents a $0.72 annualized dividend and a dividend yield of 3.18%. The ex-dividend date of this dividend is Monday, February 4th. This is a positive change from Independent Bank Co.(MI)'s previous quarterly dividend of $0.15. View Independent Bank Co.(MI)'s Dividend History.

How will Independent Bank Co.(MI)'s stock buyback program work?

Independent Bank Co.(MI) announced that its Board of Directors has authorized a share buyback program on Wednesday, January 31st 2018, which permits the company to repurchase 500% of outstanding shares, according to EventVestor. This repurchase authorization permits the company to buy shares of its stock through open market purchases. Shares repurchase programs are typically an indication that the company's board of directors believes its shares are undervalued.

How were Independent Bank Co.(MI)'s earnings last quarter?

Independent Bank Co.(MI) (NASDAQ:IBCP) posted its quarterly earnings results on Tuesday, January, 29th. The financial services provider reported $0.41 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.48 by $0.07. The financial services provider earned $39.62 million during the quarter, compared to the consensus estimate of $41.37 million. Independent Bank Co.(MI) had a return on equity of 12.72% and a net margin of 22.71%. View Independent Bank Co.(MI)'s Earnings History.

When is Independent Bank Co.(MI)'s next earnings date?

Independent Bank Co.(MI) is scheduled to release their next quarterly earnings announcement on Monday, April 22nd 2019. View Earnings Estimates for Independent Bank Co.(MI).

What price target have analysts set for IBCP?

3 Wall Street analysts have issued 1-year price objectives for Independent Bank Co.(MI)'s stock. Their predictions range from $27.00 to $27.00. On average, they anticipate Independent Bank Co.(MI)'s share price to reach $27.00 in the next year. This suggests a possible upside of 19.2% from the stock's current price. View Analyst Price Targets for Independent Bank Co.(MI).

What is the consensus analysts' recommendation for Independent Bank Co.(MI)?

3 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Independent Bank Co.(MI) in the last year. There are currently 2 hold ratings and 1 buy rating for the stock, resulting in a consensus recommendation of "Hold." View Analyst Ratings for Independent Bank Co.(MI).

What are Wall Street analysts saying about Independent Bank Co.(MI) stock?

Here are some recent quotes from research analysts about Independent Bank Co.(MI) stock:
  • 1. According to Zacks Investment Research, "Independent Bank Corporation is a bank holding company. Its subsidiary banks principally serve rural and suburban communities located across Michigan's Lower Peninsula. The Banks emphasize service and convenience as a principal means of competing in the delivery of financial services. " (1/31/2019)
  • 2. Boenning Scattergood analysts commented, "We believe Independent is well positioned to continue generating double-digit organic growth alongside disciplined expense control and stable credit performance. The company has entered a new chapter, having closed its first acquisition since the Great Recession, and is demonstrating the ability to consistently generate higher-quality earnings growth. Near-term, we continue to believe the company’s focus will be heavily geared toward a successful integration in order to preserve the positive initiatives management has employed over the last three years (branch optimization, expanded mortgage team, credit improvement, etc.), and that growth will remain strong, albeit slower than the rapid pace experienced in 2017 and 2018." (1/31/2019)

Has Independent Bank Co.(MI) been receiving favorable news coverage?

Press coverage about IBCP stock has trended somewhat positive recently, InfoTrie reports. InfoTrie identifies negative and positive media coverage by reviewing more than six thousand news and blog sources in real time. The firm ranks coverage of companies on a scale of negative five to five, with scores nearest to five being the most favorable. Independent Bank Co.(MI) earned a coverage optimism score of 1.3 on InfoTrie's scale. They also gave media coverage about the financial services provider a news buzz of 10.0 out of 10, meaning that recent media coverage is extremely likely to have an effect on the stock's share price in the near future.

Who are some of Independent Bank Co.(MI)'s key competitors?

What other stocks do shareholders of Independent Bank Co.(MI) own?

Based on aggregate information from My MarketBeat watchlists, some companies that other Independent Bank Co.(MI) investors own include Endologix (ELGX), Chipotle Mexican Grill (CMG), Apache (APA), Aegean Marine Petroleum Network (ANW), American River Bankshares (AMRB), Barclays (BARC), Cimarex Energy (XEC), Pentair (PNR), Gildan Activewear (GIL) and Bill Barrett (BBG).

Who are Independent Bank Co.(MI)'s key executives?

Independent Bank Co.(MI)'s management team includes the folowing people:
  • Mr. William Bradford Kessel CPA, Pres, CEO & Director (Age 55)
  • Mr. Robert N. Shuster CPA, CPA, Exec. VP, CFO & Corp. Sec. (Age 61)
  • Ms. Stefanie M. Kimball, Exec. VP & Chief Risk Officer (Age 59)
  • Mr. Patrick J. Ervin, Exec. VP of Mortgage Banking (Age 53)
  • Mr. Dennis James Mack, Exec. VP & Chief Commercial Lending Officer (Age 57)

Who are Independent Bank Co.(MI)'s major shareholders?

Independent Bank Co.(MI)'s stock is owned by many different of institutional and retail investors. Top institutional shareholders include BlackRock Inc. (10.44%), PL Capital Advisors LLC (6.75%), Dimensional Fund Advisors LP (2.00%), Dimensional Fund Advisors LP (2.00%), American Century Companies Inc. (1.33%) and Northern Trust Corp (1.17%). Company insiders that own Independent Bank Co.(MI) stock include David C Reglin, Dennis J Mack, James J Twarozynski, Larry R Daniel, Jr, Michael M Magee Jr, Patrick J Ervin, Robert N Shuster, Stefanie M Kimball, Terry L Haske and William B Kessel. View Institutional Ownership Trends for Independent Bank Co.(MI).

Which institutional investors are selling Independent Bank Co.(MI) stock?

IBCP stock was sold by a variety of institutional investors in the last quarter, including Bank of Montreal Can, Prudential Financial Inc., Boston Partners, Algert Global LLC, Two Sigma Investments LP, Millennium Management LLC, Deprince Race & Zollo Inc. and Deprince Race & Zollo Inc.. Company insiders that have sold Independent Bank Co.(MI) company stock in the last year include David C Reglin, Dennis J Mack, James J Twarozynski, Larry R Daniel, Jr, Michael M Magee Jr, Robert N Shuster, Stefanie M Kimball, Terry L Haske and William B Kessel. View Insider Buying and Selling for Independent Bank Co.(MI).

Which institutional investors are buying Independent Bank Co.(MI) stock?

IBCP stock was purchased by a variety of institutional investors in the last quarter, including PL Capital Advisors LLC, BlackRock Inc., Ackerman Capital Advisors LLC, Bank of America Corp DE, American Century Companies Inc., Geode Capital Management LLC, Geode Capital Management LLC and D. E. Shaw & Co. Inc.. Company insiders that have bought Independent Bank Co.(MI) stock in the last two years include Michael M Magee Jr and Patrick J Ervin. View Insider Buying and Selling for Independent Bank Co.(MI).

How do I buy shares of Independent Bank Co.(MI)?

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

What is Independent Bank Co.(MI)'s stock price today?

One share of IBCP stock can currently be purchased for approximately $22.66.

How big of a company is Independent Bank Co.(MI)?

Independent Bank Co.(MI) has a market capitalization of $546.33 million and generates $175.59 million in revenue each year. The financial services provider earns $39.84 million in net income (profit) each year or $1.68 on an earnings per share basis.

What is Independent Bank Co.(MI)'s official website?

The official website for Independent Bank Co.(MI) is http://www.independentbank.com.

How can I contact Independent Bank Co.(MI)?

Independent Bank Co.(MI)'s mailing address is 4200 E BELTLINE AVE, GRAND RAPIDS MI, 49525. The financial services provider can be reached via phone at 616-527-5820 or via email at [email protected]


MarketBeat Community Rating for Independent Bank Co.(MI) (NASDAQ IBCP)

Community Ranking:  2.0 out of 5 (star star)
Outperform Votes:  134 (Vote Outperform)
Underperform Votes:  209 (Vote Underperform)
Total Votes:  343
MarketBeat's community ratings are surveys of what our community members think about Independent Bank Co.(MI) and other stocks. Vote "Outperform" if you believe IBCP will outperform the S&P 500 over the long term. Vote "Underperform" if you believe IBCP will underperform the S&P 500 over the long term. You may vote once every thirty days.
This page was last updated on 3/19/2019 by MarketBeat.com Staff

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