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 reached pandemic status according to the World Health Organization. Since then, IBCP shares have decreased by 14.1% and is now trading at $13.81. 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) announced its quarterly earnings results on Thursday, April, 30th. The financial services provider reported $0.21 EPS for the quarter, missing analysts' consensus estimates 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 return on equity of 12.34% and a net margin of 21.29%. View Independent Bank Co.(MI)'s earnings history.

Independent Bank Co.(MI) announced a quarterly dividend on Tuesday, April 21st. Shareholders 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 dividend on an annualized basis and a yield of 5.79%. The ex-dividend date of this dividend is Monday, May 4th. View Independent Bank Co.(MI)'s dividend history.

5 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 year. This suggests a possible upside of 73.8% from the stock's current price. View analysts' price targets for Independent Bank Co.(MI).

News headlines about IBCP stock have trended negative on Wednesday, InfoTrie reports. The research firm identifies negative and positive media coverage by reviewing more than six thousand blog and news sources in real-time. The firm ranks coverage of publicly-traded companies on a scale of negative five to five, with scores nearest to five being the most favorable. Independent Bank Co.(MI) earned a coverage optimism score of -2.8 on InfoTrie's scale. They also gave media coverage 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 impact on the stock's share price in the immediate future. View the latest news aboutIndependent Bank Co.(MI).

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), 1st Source (SRCE), Veritex (VBTX), S & T Bancorp (STBA), 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 many different 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, 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 purchased 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 $13.81.

Independent Bank Co.(MI) has a market capitalization of $302.34 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]