NASDAQ:IBCP Independent Bank (IBCP) Stock Price, News & Analysis $34.29 -0.84 (-2.39%) (As of 07/26/2024 ET) Add Compare Share Share Today's Range$34.17▼$35.7450-Day Range$23.62▼$35.1352-Week Range$16.90▼$35.97Volume158,544 shsAverage Volume90,112 shsMarket Capitalization$716.66 millionP/E Ratio11.66Dividend Yield2.80%Price Target$28.00 Stock AnalysisStock AnalysisAnalyst ForecastsChartCompetitorsDividendEarningsFinancialsHeadlinesInsider TradesOptions ChainOwnershipSEC FilingsShort InterestTrendsStock AnalysisAnalyst ForecastsChartCompetitorsDividendEarningsFinancialsHeadlinesInsider TradesOptions ChainOwnershipSEC FilingsShort InterestTrends Get Independent Bank alerts: Email Address Independent Bank MarketRank™ Stock AnalysisAnalyst RatingHold2.00 Rating ScoreUpside/Downside18.3% Downside$28.00 Price TargetShort InterestHealthy1.53% of Float Sold ShortDividend StrengthModerateBased on Four FactorsSustainabilityN/ANews Sentiment0.79Based on 12 Articles This WeekInsider TradingSelling Shares$135,821 Sold Last QuarterProj. Earnings Growth1.35%From $2.96 to $3.00 Per ShareSee Full Details Hide Full Details Overall MarketRank™New Rank-Based ScoringMarketRank™ is calculated by averaging available category scores (with extra weight given to analysis and valuation), then ranking the company's weighted average against that of other companies.2.33 out of 5 starsFinance Sector642nd out of 898 stocksState Commercial Banks Industry145th out of 181 stocks 1.0 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, 3 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. Previous Next 3.0 Short Interest Percentage of Shares Shorted1.53% 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 47.44%, indicating that investor sentiment is decreasing significantly. Previous Next 2.5 Dividend Strength Dividend YieldIndependent Bank pays a meaningful dividend of 2.89%, 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 32.00% next year. This indicates that Independent Bank will be able to sustain or increase its dividend.Read more about Independent Bank's 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 3.8 News and Social Media Coverage News SentimentIndependent Bank has a news sentiment score of 0.79. 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 higher news sentiment than the 0.50 average news sentiment score of Finance companies.News Coverage This WeekMarketBeat has tracked 12 news articles for Independent Bank this week, compared to 1 article on an average week.Search Interest3 people have searched for IBCP on MarketBeat in the last 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 $135,821.00 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. Previous Next 1.9 Earnings and Valuation Earnings GrowthEarnings for Independent Bank are expected to grow by 1.35% in the coming year, from $2.96 to $3.00 per share.Price to Earnings Ratio vs. the MarketThe P/E ratio of Independent Bank is 11.66, which means that it is trading at a less expensive P/E ratio than the market average P/E ratio of about 143.26.Price to Earnings Ratio vs. SectorThe P/E ratio of Independent Bank is 11.66, which means that it is trading at a less expensive P/E ratio than the Finance sector average P/E ratio of about 48.22.Price to Book Value per Share RatioIndependent Bank has a P/B Ratio of 1.77. 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. Previous Next See Top Rated MarketRank™ Stocks Here Ad Crypto Swap Profits625,000% GainImagine swapping your daily coffee expense for a future free of financial worries. It might seem far-fetched, but results like this are within reach with the right knowledge and timing in the altcoin market. Plus, you’ll get $10 in real Bitcoin when you stay to the end of the call and take a short quiz.>> Dive into the Workshop Here About Independent Bank Stock (NASDAQ:IBCP)Independent 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 IBCP Stock Price History View Price History Chart DataSkip Price History Chart 30 days | 90 days | 365 days | Advanced Chart IBCP Stock News HeadlinesJuly 26 at 5:03 PM | msn.comIndependent Bank Corporation (NASDAQ:IBCP) Q2 2024 Earnings Call TranscriptJuly 25 at 2:34 PM | seekingalpha.comIndependent Bank Corporation 2024 Q2 - Results - Earnings Call PresentationJuly 26, 2024 | Crypto Swap Profits (Ad)625,000% GainImagine swapping your daily coffee expense for a future free of financial worries. It might seem far-fetched, but results like this are within reach with the right knowledge and timing in the altcoin market. Plus, you’ll get $10 in real Bitcoin when you stay to the end of the call and take a short quiz.July 25 at 10:07 AM | finance.yahoo.comIndependent Bank Corporation Reports 2024 Second Quarter ResultsJuly 25 at 6:21 AM | americanbankingnews.comIndependent Bank (NASDAQ:IBCP) Reaches New 52-Week High Following Dividend AnnouncementJuly 24 at 9:28 AM | americanbankingnews.comIndependent Bank Co. Announces Quarterly Dividend of $0.24 (NASDAQ:IBCP)July 23 at 10:29 AM | globenewswire.comIndependent Bank Corporation Announces Quarterly Cash Dividend on Common StockJuly 19, 2024 | markets.businessinsider.comIndependent Bank (INDB) Gets a Hold from KBWJuly 26, 2024 | Crypto Swap Profits (Ad)625,000% GainImagine swapping your daily coffee expense for a future free of financial worries. It might seem far-fetched, but results like this are within reach with the right knowledge and timing in the altcoin market. Plus, you’ll get $10 in real Bitcoin when you stay to the end of the call and take a short quiz.July 19, 2024 | seekingalpha.comIndependent Bank Corp. (INDB) Q2 2024 Earnings Call TranscriptJuly 19, 2024 | americanbankingnews.comIndependent Bank (NASDAQ:IBCP) Reaches New 1-Year High at $31.91July 18, 2024 | americanbankingnews.comIndependent Bank (IBCP) to Release Quarterly Earnings on ThursdayJune 28, 2024 | globenewswire.comIndependent Bank Corporation Announces Date for Its Second Quarter 2024 Earnings ReleaseMay 1, 2024 | finance.yahoo.comIndependent Bank (NASDAQ:IBCP) Will Pay A Dividend Of $0.24April 30, 2024 | markets.businessinsider.comAnalysts Conflicted on These Financial Names: SoFi Technologies (SOFI), Bank Of Marin Bancorp (BMRC) and Independent Bank (IBCP)April 30, 2024 | finance.yahoo.comIndependent Bank Corporation (NASDAQ:IBCP) Q1 2024 Earnings Call TranscriptApril 27, 2024 | seekingalpha.comIndependent Bank Corporation (IBCP) Q1 2024 Earnings Call TranscriptApril 26, 2024 | finance.yahoo.comIndependent Bank First Quarter 2024 Earnings: EPS Beats ExpectationsSee 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 Company Calendar Last Earnings10/25/2021Ex-Dividend for 5/13 Dividend5/02/2024Dividend Payable5/13/2024Today7/26/2024Ex-Dividend for 8/15 Dividend8/05/2024Dividend Payable8/15/2024Next Earnings (Estimated)10/22/2024Fiscal Year End12/31/2024Get Stock AlertsIndustry, Sector and Symbol Stock ExchangeNASDAQ SectorFinance Industry State commercial banks Sub-IndustryBanking Current SymbolNASDAQ:IBCP CUSIPN/A CIK39311 Webwww.independentbank.com Phone(616) 527-5820Fax616-527-4004Employees920Year FoundedN/APrice Target and Rating Average Stock Price Target$28.00 High Stock Price Target$28.00 Low Stock Price Target$28.00 Potential Upside/Downside-18.3%Consensus RatingHold Rating Score (0-4)2.00 Research Coverage3 Analysts Profitability EPS (Most Recent Fiscal Year)$2.94 Trailing P/E Ratio11.66 Forward P/E Ratio11.58 P/E GrowthN/ANet Income$59.07 million Net Margins20.45% Pretax Margin25.57% Return on Equity16.55% Return on Assets1.25% Debt Debt-to-Equity Ratio0.31 Current Ratio0.87 Quick Ratio0.87 Sales & Book Value Annual Sales$290.35 million Price / Sales2.47 Cash Flow$3.56 per share Price / Cash Flow9.63 Book Value$19.41 per share Price / Book1.77Miscellaneous Outstanding Shares20,900,000Free Float19,763,000Market Cap$716.66 million OptionableOptionable Beta1.01 Ten Starter Stocks For Beginners to Buy NowJust getting into the stock market? These 10 simple stocks can help beginning investors build long-term wealth without knowing options, technicals, or other advanced strategies.Get This Free Report Key ExecutivesMr. William Bradford Kessel CPA (Age 60)President, CEO & Director Comp: $804.01kMr. Gavin A. Mohr (Age 40)CFO, Executive VP, Treasurer & Corporate Secretary Comp: $418.13kMr. Larry Russ Daniel Jr. (Age 60)Executive Vice President of Operations & Retail Banking Comp: $398.28kMs. Stefanie M. Kimball (Age 64)Executive VP & Chief Risk Officer Comp: $427.77kMr. Patrick J. Ervin (Age 58)Executive Vice President of Mortgage Banking Comp: $420.37kMr. James J. Twarozynski (Age 59)Senior VP, Chief Accounting Officer & Controller Ms. Laurinda M. Neve (Age 72)Senior Vice President of Human Resources Mr. Joel F. Rahn (Age 58)Executive VP of Commercial Lending & Chief Lending Officer Comp: $474.29kMs. Darcy J. BenjaminAccounting OfficerMore ExecutivesKey CompetitorsHBT FinancialNASDAQ:HBTMetroCity BanksharesNASDAQ:MCBSMercantile BankNASDAQ:MBWMFirst Community BanksharesNASDAQ:FCBCCapital City Bank GroupNASDAQ:CCBGView All CompetitorsInsiders & InstitutionsAllspring Global Investments Holdings LLCSold 54,981 shares on 7/26/2024Ownership: 1.716%Bank of New York Mellon CorpBought 26,674 shares on 7/26/2024Ownership: 0.989%Bailard Inc.Bought 1,400 shares on 7/26/2024Ownership: 0.083%Assenagon Asset Management S.A.Bought 116,542 shares on 7/18/2024Ownership: 0.558%SG Americas Securities LLCBought 11,445 shares on 7/12/2024Ownership: 0.055%View All Insider TransactionsView All Institutional Transactions IBCP Stock Analysis - Frequently Asked Questions How have IBCP shares performed this year? Independent Bank's stock was trading at $26.02 on January 1st, 2024. Since then, IBCP shares have increased by 31.8% and is now trading at $34.29. View the best growth stocks for 2024 here. How were Independent Bank's earnings last quarter? Independent Bank Co. (NASDAQ:IBCP) released its earnings results on Monday, October, 25th. The financial services provider reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.11. The financial services provider had revenue of $53.50 million for the quarter, compared to analyst estimates of $47.57 million. Independent Bank had a trailing twelve-month return on equity of 16.55% and a net margin of 20.45%. 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. Who are Independent Bank's major shareholders? Top institutional shareholders of Independent Bank include Allspring Global Investments Holdings LLC (1.72%), Bank of New York Mellon Corp (0.99%), Assenagon Asset Management S.A. (0.56%) and Bailard Inc. (0.08%). 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 Endologix (ELGX), Chipotle Mexican Grill (CMG), Pfizer (PFE), Aegean Marine Petroleum Network (ANW), Occidental Petroleum (OXY) and Pentair (PNR). This page (NASDAQ:IBCP) was last updated on 7/26/2024 by MarketBeat.com Staff From Our Partners625,000% GainImagine swapping your daily coffee expense for a future free of financial worries. It might seem far-fetche...Crypto Swap Profits | Sponsored“Generational Bull Run” IncomingLIVE Cash Flow Workshop Event / Hosted Virtually Weds @ 7PM EST Everyone who attends will also receive 3 sp...Unstoppable Prosperity | SponsoredRare signal predicts 50% market drop - before electionThe market is near all-time highs, we're told that unemployment is low, AI's a gift to humanity, and the FED w...Behind the Markets | SponsoredThis student turned $1,300 into $45,000 in just 4 Months!With the help of S.A.M. 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