NASDAQ:IBCPIndependent Bank Co.(MI) Stock Price, Forecast & News

Independent Bank Co.(MI)'s stock was trading at $16.08 on March 11th, 2020 when Coronavirus (COVID-19) reached pandemic status according to the World Health Organization (WHO). Since then, IBCP stock has decreased by 14.1% and is now trading at $13.82. View which stocks have been most impacted by Coronavirus.

5 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Independent Bank Co.(MI) in the last year. There are currently 2 hold ratings and 3 buy ratings for the stock, resulting in a consensus recommendation of "Buy." View analyst ratings for Independent Bank Co.(MI).

Independent Bank Co.(MI) is scheduled to release its next quarterly earnings announcement on Thursday, July 23rd 2020. View our earnings forecast for Independent Bank Co.(MI).

Independent Bank Co.(MI) (NASDAQ:IBCP) issued its quarterly earnings data on Thursday, April, 30th. The financial services provider reported $0.21 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.37 by $0.16. The financial services provider earned $41.20 million during the quarter, compared to analysts' expectations of $43.01 million. Independent Bank Co.(MI) had a net margin of 21.29% and a return on equity of 12.34%. View Independent Bank Co.(MI)'s earnings history.

Independent Bank Co.(MI) declared a quarterly dividend on Tuesday, April 21st. Stockholders of record on Tuesday, May 5th will be paid a dividend of $0.20 per share on Friday, May 15th. This represents a $0.80 annualized dividend and a yield of 5.79%. The ex-dividend date is Monday, May 4th. View Independent Bank Co.(MI)'s dividend history.

5 analysts have issued 12 month target prices for Independent Bank Co.(MI)'s stock. Their forecasts range from $24.00 to $24.00. On average, they expect Independent Bank Co.(MI)'s stock price to reach $24.00 in the next twelve months. This suggests a possible upside of 73.7% from the stock's current price. View analysts' price targets for Independent Bank Co.(MI).

News headlines about IBCP stock have been trending very negative recently, InfoTrie Sentiment reports. The research firm identifies positive and negative media coverage by analyzing more than six thousand news and blog sources in real-time. The firm ranks coverage of public companies on a scale of negative five to positive five, with scores closest to five being the most favorable. Independent Bank Co.(MI) earned a media sentiment score of -3.0 on InfoTrie's scale. They also gave media headlines about the financial services provider a news buzz of 0.0 out of 10, indicating that recent media coverage is extremely unlikely to have an effect on the stock's share price in the next several days. View the latest news aboutIndependent Bank Co.(MI).

Independent Bank Co.(MI) saw a increase in short interest during the month of April. As of April 15th, there was short interest totaling 297,000 shares, an increase of 7.7% from the March 31st total of 275,700 shares. Based on an average daily volume of 144,500 shares, the days-to-cover ratio is currently 2.1 days. Currently, 1.4% of the company's stock are sold short. View Independent Bank Co.(MI)'s Current Options Chain.

Some companies that are related to Independent Bank Co.(MI) include First Bancorp (FBP), Heartland Financial USA (HTLF), Seacoast Banking Co. of Florida (SBCF), Lakeland Financial (LKFN), Eagle Bancorp (EGBN), First Busey (BUSE), Southside Bancshares (SBSI), Veritex (VBTX), S & T Bancorp (STBA), 1st Source (SRCE), TriCo Bancshares (TCBK), Oritani Financial (ORIT), German American Bancorp. (GABC), Carolina Financial (CARO) and Great Western Bancorp (GWB). View all competitors.

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), Apache (APA), Aegean Marine Petroleum Network (ANW), Occidental Petroleum (OXY), American River Bankshares (AMRB), First Busey (BUSE), Eagle Bancorp Montana (EBMT), Pfizer (PFE) and Pentair (PNR).

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

Independent Bank Co.(MI)'s stock is owned by a variety of retail and institutional investors. Top institutional investors include BlackRock Inc. (9.28%), Russell Investments Group Ltd. (4.05%), State Street Corp (2.90%), Acadian Asset Management LLC (2.71%), Wells Fargo & Company MN (1.95%) and JPMorgan Chase & Co. (1.93%). Company insiders that own Independent Bank Co.(MI) stock include Christina Keller, Dennis J Mack, James J Twarozynski, Larry R Daniel, Jr, Matthew J Missad, Michael M Magee Jr, Patrick J Ervin, Robert N Shuster 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 PL Capital Advisors LLC, Grantham Mayo Van Otterloo & Co. LLC, Morgan Stanley, State Street Corp, IndexIQ Advisors LLC, Avantax Advisory Services Inc., Victory Capital Management Inc., and Victory Capital Management Inc.. View insider buying and selling activity for Independent Bank Co.(MI).

IBCP stock was acquired by a variety of institutional investors in the last quarter, including Acadian Asset Management LLC, BlackRock Inc., Federated Hermes Inc., Two Sigma Advisers LP, Ziegler Capital Management LLC, JPMorgan Chase & Co., Seizert Capital Partners LLC, and The Manufacturers Life Insurance Company . Company insiders that have bought Independent Bank Co.(MI) stock in the last two years include Christina Keller, Matthew J Missad, Michael M Magee Jr, Patrick J Ervin, and William B Kessel. View insider buying and selling activity 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 $13.82.

Independent Bank Co.(MI) has a market capitalization of $302.52 million and generates $196.66 million in revenue each year. The financial services provider earns $46.44 million in net income (profit) each year or $2.00 on an earnings per share basis. Independent Bank Co.(MI) employs 830 workers across the globe.

The official website for Independent Bank Co.(MI) is 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]