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

$22.09
-0.20 (-0.90 %)
(As of 01/26/2020 04:00 PM ET)
Today's Range
$22.01
Now: $22.09
$22.40
50-Day Range
$22.00
MA: $22.48
$22.92
52-Week Range
$18.94
Now: $22.09
$23.93
Volume117,234 shs
Average Volume93,636 shs
Market Capitalization$496.58 million
P/E Ratio10.99
Dividend Yield3.23%
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$196.66 million
Cash Flow$1.89 per share
Book Value$14.06 per share

Profitability

Net Income$39.84 million

Miscellaneous

Employees830
Market Cap$496.58 million
Next Earnings Date4/27/2020 (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 Monday, January 20th. Investors of record on Wednesday, February 5th will be given a dividend of $0.20 per share on Friday, February 14th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.62%. The ex-dividend date of this dividend is Tuesday, February 4th. This is a boost from Independent Bank Co.(MI)'s previous quarterly dividend of $0.18. View Independent Bank Co.(MI)'s Dividend History.

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

Independent Bank Co.(MI) announced that its board has approved a share buyback plan on Wednesday, January 31st 2018, which authorizes the company to buyback 500% of outstanding shares, according to EventVestor. This buyback authorization authorizes the company to buy shares of its stock through open market purchases. Shares buyback plans are often an indication that the company's leadership believes its stock is undervalued.

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

Independent Bank Co.(MI) (NASDAQ:IBCP) issued its quarterly earnings results on Thursday, January, 23rd. The financial services provider reported $0.61 EPS for the quarter, beating the Zacks' consensus estimate of $0.57 by $0.04. The financial services provider had revenue of $46.31 million for the quarter, compared to the consensus estimate of $44.21 million. Independent Bank Co.(MI) had a return on equity of 13.71% and a net margin of 23.61%. 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 Monday, April 27th 2020. View Earnings Estimates for Independent Bank Co.(MI).

What price target have analysts set for IBCP?

2 analysts 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 stock price to reach $24.00 in the next twelve months. This suggests a possible upside of 8.6% from the stock's current price. View Analyst Price Targets for Independent Bank Co.(MI).

What is the consensus analysts' recommendation 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).

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

Press coverage about IBCP stock has been trending extremely negative this week, InfoTrie Sentiment reports. The research firm identifies negative and positive press coverage by monitoring more than six thousand news and blog sources in real-time. 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 news sentiment score of -4.5 on InfoTrie's scale. They also assigned news stories about the financial services provider a news buzz of 10.0 out of 10, indicating that recent press coverage is extremely likely 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 increase in short interest during the month of January. As of January 15th, there was short interest totalling 355,000 shares, an increase of 47.9% from the December 31st total of 240,000 shares. Based on an average daily volume of 79,200 shares, the days-to-cover ratio is presently 4.5 days. Currently, 1.7% of the company's shares are short sold. 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), 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).

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 variety of of retail and institutional investors. Top institutional investors include Wedge Capital Management L L P NC (0.17%) and Campbell & CO Investment Adviser LLC (0.14%). 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 institutional investors are selling Independent Bank Co.(MI) stock?

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).

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

IBCP stock was acquired by a variety of institutional investors in the last quarter, including Campbell & CO Investment Adviser LLC. 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 $22.09.

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

Independent Bank Co.(MI) has a market capitalization of $496.58 million and generates $196.66 million in revenue each year. The financial services provider earns $39.84 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.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:  188 (Vote Outperform)
Underperform Votes:  282 (Vote Underperform)
Total Votes:  470
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 1/26/2020 by MarketBeat.com Staff

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