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

$22.41
-0.26 (-1.15 %)
(As of 11/19/2019 04:45 AM ET)
Today's Range
$22.30
Now: $22.41
$22.63
50-Day Range
$20.53
MA: $21.86
$23.00
52-Week Range
$18.94
Now: $22.41
$23.93
Volume63,400 shs
Average Volume102,477 shs
Market Capitalization$503.80 million
P/E Ratio13.34
Dividend Yield3.18%
Beta0.51
Independent Bank Corporation operates as the holding company for Independent Bank that provides various banking services to individuals and businesses in Michigan. 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 machines, and Internet and mobile banking services. Read More…

Industry, Sector and Symbol

Industry State commercial banks
Sub-IndustryN/A
SectorFinance
Current SymbolNASDAQ:IBCP
CUSIPN/A
Phone616-527-5820

Debt

Price-To-Earnings

Sales & Book Value

Annual Sales$175.59 million
Cash Flow$1.88 per share
Book Value$15.13 per share

Profitability

Net Income$39.84 million

Miscellaneous

Employees830
Market Cap$503.80 million
Next Earnings Date2/4/2020 (Estimated)
OptionableOptionable

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Independent Bank Co.(MI) (NASDAQ:IBCP) Frequently Asked Questions

What is Independent Bank Co.(MI)'s stock symbol?

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

How often does Independent Bank Co.(MI) pay dividends? What is the dividend yield for Independent Bank Co.(MI)?

Independent Bank Co.(MI) declared a quarterly dividend on Tuesday, October 22nd. Investors 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 dividend on an annualized basis and a yield of 3.21%. The ex-dividend date is Tuesday, November 5th. View Independent Bank Co.(MI)'s Dividend History.

How will Independent Bank Co.(MI)'s stock buyback program work?

Independent Bank Co.(MI) declared that its Board of Directors has authorized a share repurchase plan on Wednesday, January 31st 2018, which allows the company to buyback 500% of outstanding shares, according to EventVestor. This buyback authorization allows the company to purchase shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company's board of directors believes its stock is undervalued.

How were Independent Bank Co.(MI)'s earnings last quarter?

Independent Bank Co.(MI) (NASDAQ:IBCP) released its quarterly earnings results on Thursday, October, 24th. The financial services provider reported $0.55 EPS for the quarter, beating the Thomson Reuters' consensus estimate of $0.51 by $0.04. The financial services provider had revenue of $43.15 million for the quarter, compared to analysts' expectations 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.

When is Independent Bank Co.(MI)'s next earnings date?

Independent Bank Co.(MI) is scheduled to release their next quarterly earnings announcement on Tuesday, February 4th 2020. View Earnings Estimates for Independent Bank Co.(MI).

What is the consensus analysts' recommendation for Independent Bank Co.(MI)?

1 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 for the stock, resulting in a consensus recommendation of "Hold." View Analyst Ratings for Independent Bank Co.(MI).

Has Independent Bank Co.(MI) been receiving favorable news coverage?

News stories about IBCP stock have trended extremely negative on Tuesday, according to InfoTrie Sentiment Analysis. The research firm rates the sentiment of media coverage by analyzing more than six thousand blog and news sources. The firm ranks coverage of publicly-traded companies on a scale of -5 to 5, with scores nearest to five being the most favorable. Independent Bank Co.(MI) earned a media sentiment score of -4.6 on InfoTrie's scale. They also assigned news coverage about the financial services provider a news buzz of 0.0 out of 10, meaning that recent media coverage is extremely unlikely to have an impact on the stock's share price in the immediate future. View News Stories for Independent Bank Co.(MI).

Are investors shorting Independent Bank Co.(MI)?

Independent Bank Co.(MI) saw a drop in short interest in October. As of October 31st, there was short interest totalling 303,600 shares, a drop of 6.8% from the September 30th total of 325,900 shares. Based on an average daily volume of 90,200 shares, the days-to-cover ratio is presently 3.4 days. Currently, 1.4% of the company's stock are sold short. View Independent Bank Co.(MI)'s Current Options Chain.

Who are some of Independent Bank Co.(MI)'s key competitors?

What other stocks do shareholders of Independent Bank Co.(MI) own?

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), Barclays (BARC), American River Bankshares (AMRB), Micron Technology (MU), Brixmor Property Group (BRX), Cimarex Energy (XEC) and BJ's Restaurants (BJRI).

Who are Independent Bank Co.(MI)'s key executives?

Independent Bank Co.(MI)'s management team includes the folowing people:
  • Mr. William Bradford Kessel CPA, Pres, CEO & Director (Age 55)
  • Mr. Robert N. Shuster CPA, CPA, Exec. VP, CFO & Corp. Sec. (Age 61)
  • Ms. Stefanie M. Kimball, Exec. VP & Chief Risk Officer (Age 59)
  • Mr. Patrick J. Ervin, Exec. VP of Mortgage Banking (Age 53)
  • Mr. Dennis James Mack, Exec. VP & Chief Lending Officer (Age 57)

Who are Independent Bank Co.(MI)'s major shareholders?

Independent Bank Co.(MI)'s stock is owned by a number of of institutional and retail investors. Top institutional investors include Russell Investments Group Ltd. (3.78%), Foundry Partners LLC (1.05%), California Public Employees Retirement System (0.33%), First Trust Advisors LP (0.27%), Rhumbline Advisers (0.23%) and Wedge Capital Management L L P NC (0.22%). 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).

Which major investors are selling Independent Bank Co.(MI) stock?

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

Which major investors are buying Independent Bank Co.(MI) stock?

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

How do I buy shares of 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.

What is Independent Bank Co.(MI)'s stock price today?

One share of IBCP stock can currently be purchased for approximately $22.41.

How big of a company is Independent Bank Co.(MI)?

Independent Bank Co.(MI) has a market capitalization of $503.80 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).

What is Independent Bank Co.(MI)'s official website?

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

How can I contact Independent Bank Co.(MI)?

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]


MarketBeat Community Rating for Independent Bank Co.(MI) (NASDAQ IBCP)

Community Ranking:  2.0 out of 5 (star star)
Outperform Votes:  173 (Vote Outperform)
Underperform Votes:  268 (Vote Underperform)
Total Votes:  441
MarketBeat's community ratings are surveys of what our community members think about Independent Bank Co.(MI) and other stocks. Vote "Outperform" if you believe IBCP will outperform the S&P 500 over the long term. Vote "Underperform" if you believe IBCP will underperform the S&P 500 over the long term. You may vote once every thirty days.
This page was last updated on 11/19/2019 by MarketBeat.com Staff

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