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NASDAQ:IBCP

Independent Bank - IBCP Stock Forecast, Price & News

$23.71
-0.05 (-0.21%)
(As of 12/9/2022 02:59 PM ET)
Add
Compare
Today's Range
$23.63
$23.87
50-Day Range
$19.10
$24.85
52-Week Range
$17.87
$26.00
Volume
249 shs
Average Volume
78,390 shs
Market Capitalization
$499.57 million
P/E Ratio
8.35
Dividend Yield
3.70%
Price Target
$24.00

Independent Bank MarketRank™ Forecast

Analyst Rating
Hold
2.00 Rating Score
Upside/​Downside
1.5% Upside
$24.00 Price Target
Short Interest
Bearish
2.19% of Float Sold Short
Dividend Strength
Strong
Based on Four Factors
Sustainability
N/A
News Sentiment
N/A
Insider Trading
N/A
Proj. Earnings Growth
-5.48%
From $2.92 to $2.76 Per Share

Overall MarketRank

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

1.54 out of 5 stars

Finance Sector

818th out of 862 stocks

State Commercial Banks Industry

174th out of 181 stocks

IBCP stock logo

About Independent Bank (NASDAQ:IBCP) Stock

Independent Bank Corporation operates as the bank holding company for Independent Bank that provides various banking services to individuals and businesses. 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 machine, and Internet and mobile banking services. It also provides title insurance, insurance brokerage, and investment services. The company offers its services through approximately 59 branches, two drive-thru facilities, and seven loan production offices in Michigan; and two loan production offices in Ohio. Independent Bank Corporation was founded in 1864 and is based in Grand Rapids, Michigan.

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IBCP Stock News Headlines

Independent Bank's Earnings Outlook
Independent Bank Corp (Michigan)
Best Value Stocks to Buy for July 13th
See More Headlines
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IBCP Company Calendar

Last Earnings
10/25/2021
Ex-Dividend for 11/14 Dividend
11/03/2022
Dividend Payable
11/14/2022
Today
12/09/2022
Fiscal Year End
12/31/2022
Next Earnings (Estimated)
1/26/2023

Industry, Sector and Symbol

Industry
State commercial banks
Sub-Industry
N/A
Sector
Finance
Current Symbol
NASDAQ:IBCP
Employees
866
Year Founded
N/A

Price Target and Rating

Average Stock Price Forecast
$24.00
High Stock Price Forecast
$24.00
Low Stock Price Forecast
$24.00
Forecasted Upside/Downside
+1.2%
Consensus Rating
Hold
Rating Score (0-4)
2.00
Research Coverage
1 Analysts

Profitability

Net Income
$62.90 million
Pretax Margin
33.87%

Debt

Sales & Book Value

Annual Sales
$214.72 million
Cash Flow
$3.52 per share
Book Value
$18.73 per share

Miscellaneous

Free Float
19,970,000
Market Cap
$499.57 million
Optionable
Optionable
Beta
1.01

Key Executives

  • Mr. William Bradford Kessel CPA (Age 58)
    CPA, Pres, CEO & Director
    Comp: $1.07M
  • Mr. Gavin A. Mohr (Age 38)
    CFO, Exec. VP, Treasurer & Corp. Sec.
    Comp: $492.95k
  • Ms. Stefanie M. KimballMs. Stefanie M. Kimball (Age 62)
    Exec. VP & Chief Risk Officer
    Comp: $542.46k
  • Mr. Patrick J. Ervin (Age 56)
    Exec. VP of Mortgage Banking
    Comp: $507.14k
  • Mr. Joel F. Rahn (Age 56)
    Exec. VP of Commercial Lending & Chief Lending Officer
    Comp: $487.49k
  • Mr. Larry Russ Daniel Jr. (Age 58)
    Exec. VP of Operations & Digital Banking
  • Mr. James J. TwarozynskiMr. James J. Twarozynski (Age 57)
    Sr. VP, Chief Accounting Officer & Controller
  • Ms. Laurinda M. Neve (Age 70)
    Sr. VP of HR
  • Keith J. Lightbody
    Sr. Officer of Independent Bank
  • Mark Olsen
    VP & Mortgage Sales Mang.













IBCP Stock - Frequently Asked Questions

Should I buy or sell Independent Bank stock right now?

1 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for Independent Bank in the last twelve months. There are currently 1 hold rating 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?

1 Wall Street analysts have issued 1-year target prices for Independent Bank's stock. Their IBCP share price forecasts range from $24.00 to $24.00. On average, they expect the company's share price to reach $24.00 in the next year. This suggests a possible upside of 1.5% 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 2022?

Independent Bank's stock was trading at $23.87 at the beginning of 2022. Since then, IBCP stock has decreased by 0.9% and is now trading at $23.65.
View the best growth stocks for 2022 here
.

When is Independent Bank's next earnings date?

The company is scheduled to release its next quarterly earnings announcement on Thursday, January 26th 2023.
View our IBCP earnings forecast
.

How were Independent Bank's earnings last quarter?

Independent Bank Co. (NASDAQ:IBCP) released its quarterly earnings results on Monday, October, 25th. The financial services provider reported $0.73 EPS for the quarter, topping analysts' consensus estimates of $0.62 by $0.11. The financial services provider earned $53.50 million during the quarter, compared to the consensus estimate of $47.57 million. Independent Bank had a net margin of 27.57% and a trailing twelve-month return on equity of 17.15%. During the same period last year, the company earned $0.89 earnings per share.

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

Independent Bank announced a quarterly dividend on Tuesday, October 18th. Stockholders of record on Friday, November 4th will be paid a dividend of $0.22 per share on Monday, November 14th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.72%. The ex-dividend date is Thursday, November 3rd.
Read our dividend analysis for IBCP
.

Is Independent Bank a good dividend stock?

Independent Bank (NASDAQ:IBCP) pays an annual dividend of $0.88 per share and currently has a dividend yield of 3.70%. The company has been increasing its dividend for 8 consecutive years, indicating the company has a new, but growing committment to grow its dividend. The dividend payout ratio is 30.99%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, IBCP will have a dividend payout ratio of 31.88% 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), APA (APA), Pfizer (PFE), Aegean Marine Petroleum Network (ANW), Occidental Petroleum (OXY), Pentair (PNR), Citigroup (C), NextEra Energy Partners (NEP) and Primo Water (PRMW).

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 institutional and retail investors. Top institutional shareholders include BlackRock Inc. (14.61%), Vanguard Group Inc. (4.91%), Dimensional Fund Advisors LP (3.97%), LSV Asset Management (3.19%), State Street Corp (2.93%) and Renaissance Technologies LLC (2.92%). Insiders that own company stock include Christina Keller, Dennis W Archer Jr, Gavin A Mohr, James J Twarozynski, Matthew J Missad, Michael M Magee Jr, Patrick J Ervin, Ronia F Kruse, Stefanie M Kimball, Stefanie M Kimball and William B Kessel.
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 $23.65.

How much money does Independent Bank make?

Independent Bank (NASDAQ:IBCP) has a market capitalization of $498.31 million and generates $214.72 million in revenue each year. The financial services provider earns $62.90 million in net income (profit) each year or $2.84 on an earnings per share basis.

How many employees does Independent Bank have?

The company employs 866 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 12/9/2022 by MarketBeat.com Staff