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 COVID-19 reached pandemic status according to the World Health Organization (WHO). Since then, IBCP stock has decreased by 17.9% and is now trading at $13.20. View which stocks have been most impacted by Coronavirus.

4 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 2 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) released its earnings results on Thursday, April, 30th. The financial services provider reported $0.21 earnings per share for the quarter, missing the Zacks' consensus estimate of $0.37 by $0.16. The financial services provider had revenue of $41.20 million for the quarter, compared to analyst estimates 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. Investors of record on Tuesday, May 5th will be given a dividend of $0.20 per share on Friday, May 15th. This represents a $0.80 annualized dividend and a yield of 6.06%. The ex-dividend date is Monday, May 4th. View Independent Bank Co.(MI)'s dividend history.

4 equities research analysts have issued 1 year price targets 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 81.8% from the stock's current price. View analysts' price targets for Independent Bank Co.(MI).

News articles about IBCP stock have been trending somewhat negative on Sunday, InfoTrie reports. InfoTrie identifies negative and positive media coverage by monitoring more than six thousand news and blog sources. The firm ranks coverage of publicly-traded companies on a scale of negative five to positive five, with scores nearest to five being the most favorable. Independent Bank Co.(MI) earned a news sentiment score of -1.0 on InfoTrie's scale. They also gave media headlines about the financial services provider a news buzz of 10.0 out of 10, meaning that recent media coverage is extremely likely to have an effect on the company'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 in 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 trading volume of 144,500 shares, the short-interest ratio is presently 2.1 days. Approximately 1.4% of the shares of the stock are short sold. View Independent Bank Co.(MI)'s Current Options Chain.

Some companies that are related to Independent Bank Co.(MI) include Heartland Financial USA (HTLF), Seacoast Banking Co. of Florida (SBCF), Lakeland Financial (LKFN), Eagle Bancorp (EGBN), First Busey (BUSE), Southside Bancshares (SBSI), S & T Bancorp (STBA), Oritani Financial (ORIT), Veritex (VBTX), Carolina Financial (CARO), 1st Source (SRCE), TriCo Bancshares (TCBK), German American Bancorp. (GABC), FB Financial (FBK) 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 many different retail and institutional investors. Top institutional shareholders 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, Terry L Haske 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 bought 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 $13.20.

Independent Bank Co.(MI) has a market capitalization of $288.95 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]