Independent Bank - IBCP Stock Forecast, Price & News

1 Wall Street equities research analysts have issued "buy," "hold," and "sell" ratings for Independent Bank in the last twelve months. There are currently 1 hold rating for the stock. The consensus among Wall Street equities 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.
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1 equities research analysts have issued 1 year price targets for Independent Bank's stock. Their IBCP share price forecasts range from $20.00 to $20.00. On average, they anticipate the company's share price to reach $20.00 in the next year. This suggests that the stock has a possible downside of 6.1%.
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Independent Bank's stock was trading at $23.87 on January 1st, 2022. Since then, IBCP shares have decreased by 10.7% and is now trading at $21.31.
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The company is scheduled to release its next quarterly earnings announcement on Tuesday, October 25th 2022.
View our IBCP earnings forecast.

Independent Bank Co. (NASDAQ:IBCP) issued its quarterly earnings results on Tuesday, July, 26th. The financial services provider reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.05. The financial services provider had revenue of $50.69 million for the quarter, compared to analysts' expectations of $47.75 million. Independent Bank had a net margin of 27.75% and a trailing twelve-month return on equity of 16.01%. During the same quarter in the previous year, the firm earned $0.56 earnings per share.

Independent Bank announced a quarterly dividend on Tuesday, July 19th. Shareholders of record on Friday, August 5th will be paid a dividend of $0.22 per share on Tuesday, August 16th. This represents a $0.88 annualized dividend and a dividend yield of 4.13%. The ex-dividend date is Thursday, August 4th.
Read our dividend analysis for IBCP.

Independent Bank (NASDAQ:IBCP) pays an annual dividend of $0.88 per share and currently has a dividend yield of 4.18%. 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 8 consecutive years, indicating the company has a new, but growing committment to grow its dividend. The dividend payout ratio is 31.88%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, IBCP will have a dividend payout ratio of 33.98% 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), APA (APA), Pfizer (PFE), Aegean Marine Petroleum Network (ANW), Occidental Petroleum (OXY), Pentair (PNR), Citigroup (C), NextEra Energy Partners (NEP) and Primo Water (PRMW).

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

Independent Bank's stock is owned by many different institutional and retail investors. Top institutional shareholders include Renaissance Technologies LLC (3.26%), JPMorgan Chase & Co. (2.38%), Allspring Global Investments Holdings LLC (1.26%), Principal Financial Group Inc. (1.24%), Northern Trust Corp (1.11%) and Assenagon Asset Management S.A. (0.56%). Insiders that own company stock include Christina Keller, Dennis W Archer Jr, James J Twarozynski, Matthew J Missad, Michael M Magee Jr, Patrick J Ervin, Robert N Shuster, Ronia F Kruse, Stefanie M Kimball, Stefanie M Kimball and William B Kessel.
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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 $21.31.

Independent Bank (NASDAQ:IBCP) has a market capitalization of $448.79 million and generates $214.72 million in revenue each year. The financial services provider earns $62.90 million in net income (profit) each year or $2.76 on an earnings per share basis.

The company employs 866 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.