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

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

Independent Bank Co.(MI) announced a quarterly dividend on Tuesday, October 22nd. Stockholders of record on Wednesday, November 6th will be paid a dividend of $0.18 per share on Friday, November 15th. This represents a $0.72 annualized dividend and a dividend yield of 3.21%. The ex-dividend date of this dividend is Tuesday, November 5th. View Independent Bank Co.(MI)'s Dividend History.

Independent Bank Co.(MI) declared that its board has initiated a stock buyback program on Wednesday, January 31st 2018, which authorizes the company to buyback 500% of outstanding shares, according to EventVestor. This buyback authorization authorizes the company to reacquire shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company's management believes its stock is undervalued.

Independent Bank Co.(MI) (NASDAQ:IBCP) released its quarterly earnings data on Thursday, October, 24th. The financial services provider reported $0.55 EPS for the quarter, beating the Zacks' consensus estimate of $0.51 by $0.04. The financial services provider earned $43.15 million during the quarter, compared to the consensus estimate of $42.73 million. Independent Bank Co.(MI) had a net margin of 22.42% and a return on equity of 12.55%. View Independent Bank Co.(MI)'s Earnings History.

Independent Bank Co.(MI) is scheduled to release their next quarterly earnings announcement on Thursday, January 23rd 2020. View Earnings Estimates for Independent Bank Co.(MI).

Independent Bank Co.(MI) will be holding an earnings conference call on Thursday, January 23rd at 12:00 AM Eastern. Interested parties can register for or listen to the call using this link or dial in at Not Available.

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

News coverage about IBCP stock has trended positive recently, according to InfoTrie Sentiment. The research group scores the sentiment of press coverage by monitoring more than six thousand news and blog sources. The firm ranks coverage of public companies on a scale of negative five to five, with scores closest to five being the most favorable. Independent Bank Co.(MI) earned a news impact score of 2.4 on InfoTrie's scale. They also gave news stories about the financial services provider a news buzz of 0.0 out of 10, indicating that recent press coverage is extremely unlikely to have an effect on the company's share price in the near future. View News Stories for Independent Bank Co.(MI).

Independent Bank Co.(MI) saw a decline in short interest during the month of November. As of November 29th, there was short interest totalling 207,400 shares, a decline of 36.7% from the November 14th total of 327,700 shares. Based on an average trading volume of 89,700 shares, the short-interest ratio is currently 2.3 days. Approximately 1.0% of the shares of the stock are sold short. View Independent Bank Co.(MI)'s Current Options Chain.

Some companies that are related to Independent Bank Co.(MI) include ServisFirst Bancshares (SFBS), Great Western Bancorp (GWB), Banner (BANR), Heartland Financial USA (HTLF), Eagle Bancorp (EGBN), Seacoast Banking Co. of Florida (SBCF), First Busey (BUSE), Veritex (VBTX), 1st Source (SRCE), S & T Bancorp (STBA), TriCo Bancshares (TCBK), Lakeland Financial (LKFN), Enterprise Financial Services (EFSC), Southside Bancshares (SBSI) and FB Financial (FBK).

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), Aegean Marine Petroleum Network (ANW), Apache (APA), Brixmor Property Group (BRX), Barclays (BARC), American River Bankshares (AMRB), First Busey (BUSE), Eagle Bancorp Montana (EBMT) and Intel (INTC).

Independent Bank Co.(MI)'s stock is owned by a variety of of institutional and retail investors. Top institutional investors include Russell Investments Group Ltd. (3.78%), State Street Corp (2.95%), Millennium Management LLC (1.47%), Foundry Partners LLC (1.05%), Boston Partners (0.47%) and Stifel Financial Corp (0.36%). 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).

IBCP stock was sold by a variety of institutional investors in the last quarter, including State Street Corp, Assenagon Asset Management S.A., Boston Partners, Systematic Financial Management LP, Dupont Capital Management Corp, Wedge Capital Management L L P NC, Barclays PLC and Stifel Financial Corp. View Insider Buying and Selling for Independent Bank Co.(MI).

IBCP stock was purchased by a variety of institutional investors in the last quarter, including Millennium Management LLC, Russell Investments Group Ltd., Foundry Partners LLC, Creative Planning, Rhumbline Advisers, California Public Employees Retirement System, Campbell & CO Investment Adviser LLC and Gyroscope Capital Management Group LLC. 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).

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, Robinhood, Fidelity and Charles Schwab.

One share of IBCP stock can currently be purchased for approximately $22.46.

Independent Bank Co.(MI) has a market capitalization of $504.90 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. Independent Bank Co.(MI) employs 830 workers across the globe.View Additional Information About Independent Bank Co.(MI).

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

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