Independent Bank (IBCP) Stock Forecast, Price & News

2 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for Independent Bank in the last twelve months. There are currently 2 hold ratings 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.

2 equities research analysts have issued 12-month 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 share 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.

Independent Bank's stock was trading at $23.92 at the beginning of the year. Since then, IBCP stock has decreased by 24.2% and is now trading at $18.14.
View the best growth stocks for 2023 here.

Independent Bank saw a increase in short interest in 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 trading volume of 63,800 shares, the days-to-cover ratio is currently 3.0 days. Currently, 0.9% of the shares of the company are short sold.
View Independent Bank's Short Interest.

The company is scheduled to release its next quarterly earnings announcement on Tuesday, October 24th 2023.
View our IBCP earnings forecast.

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".

Independent Bank Co. (NASDAQ:IBCP) posted its quarterly earnings results on Tuesday, July, 25th. The financial services provider reported $0.70 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.60 by $0.10. The financial services provider had revenue of $53.77 million for the quarter, compared to analyst estimates of $50.60 million. Independent Bank had a trailing twelve-month return on equity of 16.91% and a net margin of 22.96%.

Independent Bank declared a quarterly dividend on Tuesday, July 18th. Shareholders of record on Friday, August 4th will be paid a dividend of $0.23 per share on Monday, August 14th. This represents a $0.92 dividend on an annualized basis and a yield of 5.07%. The ex-dividend date is Thursday, August 3rd.
Read our dividend analysis for IBCP.

JPMorgan Active Small Cap Value ETF holds 7,127 shares of IBCP stock, representing 1.11% of its portfolio.

Independent Bank (NASDAQ:IBCP) pays an annual dividend of $0.92 per share and currently has a dividend yield of 5.00%. 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 37.40% next year. This indicates that the company will be able to sustain or increase its dividend.
Read our dividend analysis for IBCP.

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.

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

Independent Bank trades on the NASDAQ under the ticker symbol "IBCP."

Independent Bank's stock is owned by a number of retail and institutional investors. Top institutional shareholders include BlackRock Inc. (13.94%), Dimensional Fund Advisors LP (4.53%), State Street Corp (3.12%), Renaissance Technologies LLC (2.86%), LSV Asset Management (2.73%) and JPMorgan Chase & Co. (2.41%). Insiders that own company stock include Christina Keller, Dennis W Archer Jr, Gavin A Mohr, James J Twarozynski, Michael M Magee Jr, Ronia F Kruse, Stefanie M Kimball, Stefanie M Kimball and Terance L Beia.
View institutional ownership trends.

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.
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One share of IBCP stock can currently be purchased for approximately $18.14.

Independent Bank (NASDAQ:IBCP) has a market capitalization of $379.92 million and generates $204.87 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.

The company employs 803 workers across the globe.

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.