NASDAQ:IBCP Independent Bank (IBCP) Stock Forecast, Price & News $18.14 -0.01 (-0.06%) (As of 09/28/2023 ET) Add Compare Share Share Today's Range$18.09▼$18.4450-Day Range$18.07▼$21.2652-Week Range$14.90▼$24.97Volume50,789 shsAverage Volume53,108 shsMarket Capitalization$379.85 millionP/E Ratio6.41Dividend Yield5.07%Price Target$25.00 ProfileProfileAnalyst RatingsChartCompetitorsDividendEarningsFinancialsInsider TradesInstitutional OwnershipHeadlinesOptions ChainSEC FilingsShort InterestSocial MediaProfileAnalyst RatingsChartCompetitorsDividendEarningsFinancialsInsider TradesInstitutional OwnershipHeadlinesOptions ChainSEC FilingsShort InterestSocial Media Independent Bank MarketRank™ ForecastAnalyst RatingHold2.00 Rating ScoreUpside/Downside37.8% Upside$25.00 Price TargetShort InterestHealthy0.94% of Float Sold ShortDividend StrengthStrongBased on Four FactorsSustainabilityN/ANews Sentiment0.68Based on 6 Articles This WeekInsider TradingSelling Shares$4,489 Sold Last QuarterProj. Earnings Growth-4.30%From $2.56 to $2.45 Per ShareSee Full Details Hide Full Details 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 starsFinance Sector280th out of 865 stocksState Commercial Banks Industry75th out of 183 stocks 3.0 Analyst's Opinion Consensus RatingIndependent Bank has received a consensus rating of Hold. The company's average rating score is 2.00, and is based on no buy ratings, 2 hold ratings, and no sell ratings.Price Target Upside/DownsideAccording to analysts' consensus price target of $25.00, Independent Bank has a forecasted upside of 37.8% from its current price of $18.14.Amount of Analyst CoverageIndependent Bank has only been the subject of 1 research reports in the past 90 days. Previous Next 3.0 Short Interest Percentage of Shares Shorted0.94% of the float of Independent Bank has been sold short.Short Interest Ratio / Days to CoverIndependent Bank has a short interest ratio ("days to cover") of 3, which is generally considered an acceptable ratio of short interest to trading volume.Change versus previous monthShort interest in Independent Bank has recently increased by 6.78%, indicating that investor sentiment is decreasing significantly. Previous Next 4.2 Dividend Strength Dividend LeadershipIndependent Bank is a leading dividend payer. It pays a dividend yield of 5.07%, putting its dividend yield in the top 25% of dividend-paying stocks.Dividend GrowthIndependent Bank has been increasing its dividend for 9 years.Dividend CoverageThe dividend payout ratio of Independent Bank is 32.51%. This payout ratio is at a healthy, sustainable level, below 75%.Dividend SustainabilityBased on earnings estimates, Independent Bank will have a dividend payout ratio of 37.55% next year. This indicates that Independent Bank will be able to sustain or increase its dividend. Previous Next N/A Sustainability and ESG Overall ESG (Environmental, Social, and Governance) ScoreThere is no current Upright™ data available for IBCP. Previous Next 2.6 News and Social Media Coverage News SentimentIndependent Bank has a news sentiment score of 0.68. This score is calculated as an average of sentiment of articles about the company over the last seven days and ranges from 2 (good news) to -2 (bad news). This news sentiment score is similar to the average news sentiment of Finance companies.News Coverage This WeekMarketBeat has tracked 6 news articles for Independent Bank this week, compared to 1 article on an average week.Search InterestOnly 1 people have searched for IBCP on MarketBeat in the last 30 days. This is a decrease of 0% compared to the previous 30 days.MarketBeat Follows1 people have added Independent Bank to their MarketBeat watchlist in the last 30 days. Previous Next 2.5 Company Ownership Insider Buying vs. Insider SellingIn the past three months, Independent Bank insiders have sold more of their company's stock than they have bought. Specifically, they have bought $0.00 in company stock and sold $4,489.00 in company stock.Percentage Held by InsidersOnly 5.45% of the stock of Independent Bank is held by insiders.Percentage Held by Institutions78.80% of the stock of Independent Bank is held by institutions. High institutional ownership can be a signal of strong market trust in this company. Previous Next 1.3 Earnings and Valuation Earnings GrowthEarnings for Independent Bank are expected to decrease by -4.30% in the coming year, from $2.56 to $2.45 per share.Price to Earnings Ratio vs. the MarketThe P/E ratio of Independent Bank is 6.41, which means that it is trading at a less expensive P/E ratio than the market average P/E ratio of about 117.29.Price to Earnings Ratio vs. SectorThe P/E ratio of Independent Bank is 6.41, which means that it is trading at a less expensive P/E ratio than the Finance sector average P/E ratio of about 72.86.Price to Book Value per Share RatioIndependent Bank has a P/B Ratio of 1.10. P/B Ratios below 3 indicates that a company is reasonably valued with respect to its assets and liabilities. Previous Next See Top Rated MarketRank™ Stocks Here About Independent Bank (NASDAQ:IBCP) StockIndependent 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.Read More IBCP Price History View Price History Chart DataSkip Price History Chart 30 days | 90 days | 365 days | Advanced Chart IBCP Stock News HeadlinesSeptember 28, 2023 | americanbankingnews.comIndependent Bank (NASDAQ:IBCP) Stock Passes Below Two Hundred Day Moving Average of $18.08September 25, 2023 | finance.yahoo.comIndependent Bank Corporation Announces Date for Its Third Quarter 2023 Earnings ReleaseSeptember 29, 2023 | Micro-Cap Stock Trader (Ad)U.S. drive to onshore battery supply chains could create big winners in lithiumInvestor Find Lithium Gold and Crush the Bear Market with 32k Metric TonsSeptember 22, 2023 | finance.yahoo.comIndependent Bank Corporation (NASDAQ:IBCP) is a favorite amongst institutional investors who own 74%August 25, 2023 | finance.yahoo.comPositive Signs As Multiple Insiders Buy Independent Bank StockAugust 3, 2023 | msn.comIndependent Bank Corporation (IBCP) Price Target Increased by 7.39% to 22.24July 29, 2023 | finance.yahoo.comIndependent Bank Corporation (NASDAQ:IBCP) Looks Like A Good Stock, And It's Going Ex-Dividend SoonJuly 26, 2023 | finance.yahoo.comIndependent Bank (IBCP) Q2 Earnings: Taking a Look at Key Metrics Versus EstimatesSeptember 29, 2023 | Micro-Cap Stock Trader (Ad)U.S. drive to onshore battery supply chains could create big winners in lithiumInvestor Find Lithium Gold and Crush the Bear Market with 32k Metric TonsJuly 26, 2023 | finance.yahoo.comQ2 2023 Independent Bank Corp (Michigan) Earnings CallJuly 25, 2023 | finance.yahoo.comIndependent Bank Corporation Reports 2023 Second Quarter ResultsJuly 18, 2023 | finance.yahoo.comEarnings Preview: Independent Bank (IBCP) Q2 Earnings Expected to DeclineMay 1, 2023 | benzinga.comWednesday Is Your Last Chance To Buy Independent Bank Before The Dividend PayoutApril 27, 2023 | finance.yahoo.comIndependent Bank Corporation Reports 2023 First Quarter ResultsApril 26, 2023 | msn.comIndependent Bank Corporation (IBCP) Declares $0.23 DividendApril 19, 2023 | msn.comWhat's in Store for Regions Financial (RF) in Q1 Earnings?April 17, 2023 | forbes.comFive Small Stocks That Should Whet Investors’ Appetite NowMarch 29, 2023 | finance.yahoo.comIndependent Bank Corporation Announces Date for Its First Quarter 2023 Earnings ReleaseMarch 26, 2023 | msn.comThis is the No. 1 thing to do to maintain financial independence in a long-term relationship, advisor saysMarch 23, 2023 | finance.yahoo.comInstitutional owners may take dramatic actions as Independent Bank Corporation's (NASDAQ:IBCP) recent 10% drop adds to one-year lossesFebruary 22, 2023 | seekingalpha.comIBCP Independent Bank CorporationFebruary 10, 2023 | msn.comTuesday Is Your Last Chance To Buy Independent Bank Before The Dividend PayoutFebruary 10, 2023 | finance.yahoo.comIndependent Bank Corporation (NASDAQ:IBCP) Passed Our Checks, And It's About To Pay A US$0.23 DividendJanuary 27, 2023 | finance.yahoo.comIndependent Bank Corporation (NASDAQ:IBCP) Q4 2022 Earnings Call TranscriptJanuary 26, 2023 | seekingalpha.comIndependent Bank Corporation (IBCP) Q4 2022 Earnings Call TranscriptJanuary 26, 2023 | msn.comIndependent Bank GAAP EPS of $0.71, revenue of $52.1MJanuary 26, 2023 | finance.yahoo.comIndependent Bank Corporation Reports 2022 Fourth Quarter ResultsSee More Headlines Receive IBCP Stock News and Ratings via Email Sign-up to receive the latest news and ratings for Independent Bank and its competitors with MarketBeat's FREE daily newsletter. Email Address IBCP Company Calendar Last Earnings7/25/2023Ex-Dividend for 8/14 Dividend8/03/2023Dividend Payable8/14/2023Today9/29/2023Next Earnings (Confirmed)10/24/2023Fiscal Year End12/31/2023Get Stock AlertsIndustry, Sector and Symbol Stock ExchangeNASDAQ Industry State commercial banks Sub-IndustryN/A SectorFinance Current SymbolNASDAQ:IBCP CUSIPN/A CIK39311 Webwww.independentbank.com Phone(616) 527-5820Fax616-527-4004Employees803Year FoundedN/APrice 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 RatingHold Rating Score (0-4)2.00 Research Coverage2 Analysts Profitability EPS (Most Recent Fiscal Year)$2.83 Trailing P/E Ratio6.41 Forward P/E Ratio7.09 P/E GrowthN/ANet Income$63.35 million Net Margins22.96% Pretax Margin28.20% Return on Equity16.91% Return on Assets1.19% Debt Debt-to-Equity Ratio0.45 Current Ratio0.84 Quick Ratio0.84 Sales & Book Value Annual Sales$230.92 million Price / Sales1.64 Cash Flow$3.52 per share Price / Cash Flow5.15 Book Value$16.50 per share Price / Book1.10Miscellaneous Outstanding Shares20,940,000Free Float19,803,000Market Cap$379.85 million OptionableOptionable Beta0.97 Beginner's Guide to Pot Stock InvestingClick the link below and we'll send you MarketBeat's guide to pot stock investing and which pot companies show the most promise. Get This Free Report Key ExecutivesMr. William Bradford Kessel CPA (Age 59)CPA, Pres, CEO & Director Comp: $956.66kMr. Gavin A. Mohr (Age 39)CFO, Exec. VP, Treasurer & Corp. Sec. Comp: $480.28kMs. Stefanie M. Kimball (Age 63)Exec. VP & Chief Risk Officer Comp: $493.75kMr. Patrick J. Ervin (Age 57)Exec. VP of Mortgage Banking Comp: $494.58kMr. Joel F. Rahn (Age 57)Exec. VP of Commercial Lending & Chief Lending Officer Comp: $474.29kMr. Larry Russ Daniel Jr. (Age 59)Exec. VP of Operations & Digital Banking Mr. James J. Twarozynski (Age 58)Sr. VP, Chief Accounting Officer & Controller Ms. Laurinda M. Neve (Age 71)Sr. VP of HR Ms. Darcy J. BenjaminAccounting OfficerMore ExecutivesKey CompetitorsCNB FinancialNASDAQ:CCNEMetropolitan BankNYSE:MCBFlushing FinancialNASDAQ:FFICEquity BancsharesNASDAQ:EQBKFirst FinancialNASDAQ:THFFView All CompetitorsInsiders & InstitutionsAlberta Investment Management CorpSold 3,280 shares on 8/24/2023Ownership: 0.145%California State Teachers Retirement SystemSold 1,274 shares on 8/21/2023Ownership: 0.118%Nuveen Asset Management LLCSold 749 shares on 8/16/2023Ownership: 0.942%Royal Bank of CanadaBought 1,374 shares on 8/15/2023Ownership: 0.067%Citadel Advisors LLCSold 800 shares on 8/15/2023Ownership: 0.000%View All Insider TransactionsView All Institutional Transactions IBCP Stock - 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 forecast for 2023? 2 Wall Street research analysts have issued 1-year 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 stock 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 on January 1st, 2023. Since then, IBCP shares have 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 during 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 daily trading volume, of 63,800 shares, the days-to-cover ratio is presently 3.0 days. Approximately 0.9% of the shares of the company are sold short. 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 for the quarter, topping analysts' consensus estimates of $0.60 by $0.10. The financial services provider earned $53.77 million during the quarter, compared to analysts' expectations of $50.60 million. Independent Bank had a net margin of 22.96% and a trailing twelve-month return on equity of 16.91%. How often does Independent Bank pay dividends? What is the dividend yield for Independent Bank? Independent Bank announced a quarterly dividend on Tuesday, July 18th. Stockholders of record on Friday, August 4th will be given a dividend of $0.23 per share on Monday, August 14th. This represents a $0.92 annualized dividend and a dividend 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 5.07%. 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 37.55% 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." 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 $379.85 million and generates $230.92 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 9/29/2023 by MarketBeat.com Staff Adding Choose a watchlist: Watchlist Adding You have already added five stocks to your watchlist. Upgrade to MarketBeat All Access to add more stocks to your watchlist. Adding Independent Bank Co. Please log in to your account or sign up in order to add this asset to your watchlist. Get 30 Days of MarketBeat All Access Free Sign up for MarketBeat All Access to gain access to MarketBeat's full suite of research tools: Best-in-Class Portfolio Monitoring View the latest news, buy/sell ratings, SEC filings and insider transactions for your stocks. Compare your portfolio performance to leading indices and get personalized stock ideas based on your portfolio. Stock Ideas and Recommendations Get daily stock ideas from top-performing Wall Street analysts. 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