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

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

Independent Bank Co.(MI) announced a quarterly dividend on Tuesday, October 22nd. Shareholders 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 3.19%. The ex-dividend date of this dividend is Tuesday, November 5th. View Independent Bank Co.(MI)'s Dividend History.

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

Independent Bank Co.(MI) (NASDAQ:IBCP) issued its quarterly earnings data on Thursday, October, 24th. The financial services provider reported $0.55 earnings per share (EPS) for the quarter, topping the Zacks' consensus estimate of $0.51 by $0.04. The financial services provider had revenue of $43.15 million for the quarter, compared to analyst estimates of $42.73 million. Independent Bank Co.(MI) had a return on equity of 12.55% and a net margin of 22.42%. View Independent Bank Co.(MI)'s Earnings History.

Independent Bank Co.(MI) is scheduled to release their next quarterly earnings announcement on Thursday, January 23rd 2020. View Earnings Estimates for Independent Bank Co.(MI).

Independent Bank Co.(MI) will be holding an earnings conference call on Thursday, January 23rd at 12:00 AM Eastern. Interested parties can register for or listen to the call using this link or dial in at Not Available.

2 brokerages have issued 12-month price objectives for Independent Bank Co.(MI)'s shares. Their forecasts range from $24.00 to $24.00. On average, they expect Independent Bank Co.(MI)'s share price to reach $24.00 in the next twelve months. This suggests a possible upside of 6.4% from the stock's current price. View Analyst Price Targets for Independent Bank Co.(MI).

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

Media headlines about IBCP stock have trended somewhat positive recently, InfoTrie Sentiment reports. InfoTrie identifies positive and negative news coverage by analyzing more than six thousand blog and news sources. The firm ranks coverage of companies on a scale of -5 to 5, with scores closest to five being the most favorable. Independent Bank Co.(MI) earned a coverage optimism score of 2.0 on InfoTrie's scale. They also gave headlines about the financial services provider a news buzz of 0.0 out of 10, indicating that recent news coverage is extremely unlikely to have an effect on the company's share price in the near future. View News Stories for Independent Bank Co.(MI).

Independent Bank Co.(MI) saw a increase in short interest during the month of December. As of December 31st, there was short interest totalling 355,000 shares, an increase of 47.9% from the December 15th total of 240,000 shares. Based on an average daily volume of 78,200 shares, the short-interest ratio is presently 4.5 days. Currently, 1.7% of the shares of the company are short sold. View Independent Bank Co.(MI)'s Current Options Chain.

Some companies that are related to Independent Bank Co.(MI) include ServisFirst Bancshares (SFBS), Great Western Bancorp (GWB), Pacific Premier Bancorp (PPBI), Banner (BANR), Heartland Financial USA (HTLF), Eagle Bancorp (EGBN), Seacoast Banking Co. of Florida (SBCF), First Busey (BUSE), Veritex (VBTX), S & T Bancorp (STBA), 1st Source (SRCE), Enterprise Financial Services (EFSC), Southside Bancshares (SBSI), Lakeland Financial (LKFN) and FB Financial (FBK).

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), First Busey (BUSE), Occidental Petroleum (OXY), American River Bankshares (AMRB), Eagle Bancorp Montana (EBMT), Virtu Financial (VIRT) and Boot Barn (BOOT).

Independent Bank Co.(MI)'s stock is owned by a variety of of institutional and retail investors. Top institutional investors include Wedge Capital Management L L P NC (0.17%). 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).

IBCP stock was sold by a variety of institutional investors in the last quarter, including Wedge Capital Management L L P NC. View Insider Buying and Selling 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 $22.55.

Independent Bank Co.(MI) has a market capitalization of $506.95 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).

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