NASDAQ:IBCP Independent Bank (IBCP) Stock Price, News & Analysis $33.23 -0.29 (-0.87%) (As of 10/23/2024 ET) Add Compare Share Share Stock Analysis Stock AnalysisAnalyst ForecastsChartCompetitorsDividendEarningsFinancialsHeadlinesInsider TradesOptions ChainOwnershipSEC FilingsShort InterestTrends About Independent Bank Stock (NASDAQ:IBCP) 30 days 90 days 365 days Advanced Chart View Price History Chart DataSkip Price History Chart Get Independent Bank alerts:Sign Up Key Stats Today's Range$32.83▼$33.6450-Day Range$31.36▼$35.2752-Week Range$16.90▼$35.97Volume49,197 shsAverage Volume95,006 shsMarket Capitalization$694.57 millionP/E Ratio10.65Dividend Yield2.89%Price Target$32.17Consensus RatingHold Company OverviewIndependent 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.Read More… Watch this before it gets removed (Ad)If you missed it, my emergency election broadcast is now available - but will be removed soonClick here to watch it now. Independent Bank Stock Analysis - MarketRank™See Top Rated MarketRank™ Stocks40th Percentile Overall ScoreIBCP MarketRank™: Independent Bank scored higher than 40% of companies evaluated by MarketBeat, and ranked 38th out of 50 stocks in the financial services sector. Scores are calculated by averaging available category scores, with extra weight given to analysis and valuation. Analyst's Opinion1.0 / 5Analyst RatingHold 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, 4 hold ratings, and no sell ratings.Amount of Analyst CoverageIndependent Bank has only been the subject of 2 research reports in the past 90 days.Read more about Independent Bank's stock forecast and price target. Earnings and Valuation1.3 / 5Proj. Earnings Growth-3.51% Earnings GrowthEarnings for Independent Bank are expected to decrease by -3.51% in the coming year, from $3.13 to $3.02 per share.Price to Earnings Ratio vs. the MarketThe P/E ratio of Independent Bank is 10.65, which means that it is trading at a less expensive P/E ratio than the market average P/E ratio of about 130.00.Price to Earnings Ratio vs. SectorThe P/E ratio of Independent Bank is 10.65, which means that it is trading at a less expensive P/E ratio than the Financial Services sector average P/E ratio of about 395.24.Price to Book Value per Share RatioIndependent Bank has a P/B Ratio of 1.71. P/B Ratios below 3 indicates that a company is reasonably valued with respect to its assets and liabilities.Read more about Independent Bank's valuation and earnings. Short Interest4.0 / 5Short Interest LevelHealthy Percentage of Shares Shorted1.25% 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 2.1, which is generally considered an acceptable ratio of short interest to trading volume.Change versus previous monthShort interest in Independent Bank has recently decreased by 2.09%, indicating that investor sentiment is improving. Dividend2.5 / 5Dividend StrengthModerate Dividend YieldIndependent Bank pays a meaningful dividend of 2.75%, higher than the bottom 25% of all stocks that pay dividends.Dividend GrowthIndependent Bank does not have a long track record of dividend growth.Dividend CoverageThe dividend payout ratio of Independent Bank is 32.65%. 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 31.79% next year. This indicates that Independent Bank will be able to sustain or increase its dividend.Read more about Independent Bank's dividend. Sustainability and ESGN/AEnvironmental ScoreN/A Percentage of Shares Shorted1.25% 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 2.1, which is generally considered an acceptable ratio of short interest to trading volume.Change versus previous monthShort interest in Independent Bank has recently decreased by 2.09%, indicating that investor sentiment is improving. News and Social Media1.8 / 5News Sentiment0.18 News SentimentIndependent Bank has a news sentiment score of 0.18. 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 is a lower news sentiment than the 0.50 average news sentiment score of Financial Services companies.News Coverage This WeekMarketBeat has tracked 5 news articles for Independent Bank this week, compared to 2 articles on an average week. Company Ownership2.5 / 5Insider TradingSelling Shares 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 $78,750.00 in company stock.Percentage Held by InsidersOnly 5.45% of the stock of Independent Bank is held by insiders.Percentage Held by Institutions79.43% of the stock of Independent Bank is held by institutions. High institutional ownership can be a signal of strong market trust in this company.Read more about Independent Bank's insider trading history. 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Email Address IBCP Stock News HeadlinesIndependent Bank to exit mortgage warehouse businessOctober 23 at 10:55 PM | bizjournals.comIndependent Bank Corporation Announces Quarterly Cash Dividend on Common StockOctober 22 at 10:03 AM | globenewswire.comWatch this before it gets removed If you missed it, my emergency election broadcast is now available - but will be removed soonOctober 24, 2024 | Porter & Company (Ad)Independent Bank (IBCP) Set to Announce Earnings on ThursdayOctober 22 at 1:48 AM | americanbankingnews.comA Look Ahead: Independent Bank's Earnings ForecastOctober 16, 2024 | benzinga.comIndependent Bank (NASDAQ:INDB) Stock Quotes, Forecast and News SummaryOctober 14, 2024 | benzinga.comIndependent Bank (INDB) was upgraded to a Buy Rating at Seaport GlobalSeptember 29, 2024 | markets.businessinsider.comAvoid the Area: Suspicious package found at bank near Independence CenterSeptember 28, 2024 | msn.comSee More Headlines IBCP Stock Analysis - Frequently Asked Questions How have IBCP shares performed this year? Independent Bank's stock was trading at $26.02 at the beginning of 2024. Since then, IBCP shares have increased by 27.7% and is now trading at $33.23. View the best growth stocks for 2024 here. How were Independent Bank's earnings last quarter? Independent Bank Co. (NASDAQ:IBCP) issued its quarterly earnings results on Thursday, July, 25th. The financial services provider reported $0.88 earnings per share for the quarter, topping analysts' consensus estimates of $0.71 by $0.17. The financial services provider earned $81.51 million during the quarter, compared to analysts' expectations of $53.50 million. Independent Bank had a trailing twelve-month return on equity of 16.90% and a net margin of 21.11%. Who are Independent Bank's major shareholders? Independent Bank's top institutional shareholders include Allspring Global Investments Holdings LLC (1.54%), Assenagon Asset Management S.A. (0.45%), Creative Planning (0.14%) and Wedge Capital Management L L P NC (0.10%). Insiders that own company stock include Stefanie M Kimball, Terance L Beia, Gavin A Mohr, Dennis W Archer Jr, James J Twarozynski and Christina Keller. 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. What other stocks do shareholders of Independent Bank own? Based on aggregate information from My MarketBeat watchlists, some other companies that Independent Bank investors own include NVIDIA (NVDA), Broadcom (AVGO), Meta Platforms (META), Arista Networks (ANET), Jabil (JBL), Adobe (ADBE) and e.l.f. Beauty (ELF). Company Calendar Last Earnings7/25/2024Ex-Dividend for 8/15 Dividend8/05/2024Dividend Payable8/15/2024Today10/23/2024Next Earnings (Confirmed)10/24/2024Ex-Dividend for 11/15 Dividend11/05/2024Dividend Payable11/15/2024Fiscal Year End12/31/2024Get Stock AlertsIndustry, Sector and Symbol Stock ExchangeNASDAQ SectorFinancial Services Industry Banks - Regional Sub-IndustryBanking Current SymbolNASDAQ:IBCP CUSIPN/A CIK39311 Webwww.independentbank.com Phone(616) 527-5820Fax616-527-4004Employees741Year FoundedN/APrice Target and Rating Average Stock Price Target$32.17 High Stock Price Target$37.50 Low Stock Price Target$28.00 Potential Upside/Downside-3.2%Consensus RatingHold Rating Score (0-4)2.00 Research Coverage4 Analysts Profitability EPS (Most Recent Fiscal Year)$2.94 Trailing P/E Ratio10.65 Forward P/E Ratio10.62 P/E GrowthN/ANet Income$59.07 million Net Margins21.11% Pretax Margin26.50% Return on Equity16.90% Return on Assets1.31% Debt Debt-to-Equity Ratio0.30 Current Ratio0.88 Quick Ratio0.88 Sales & Book Value Annual Sales$207.12 million Price / Sales3.35 Cash Flow$3.55 per share Price / Cash Flow9.36 Book Value$19.41 per share Price / Book1.71Miscellaneous Outstanding Shares20,902,000Free Float19,763,000Market Cap$694.57 million OptionableOptionable Beta0.99 Metaverse Stocks And Why You Can't Ignore ThemThinking about investing in Meta, Roblox, or Unity? 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