NASDAQ:IBCP - Independent 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 19.8% and is now trading at $12.89. View which stocks have been mosted impacted by Coronavirus.

3 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 1 buy rating for the stock, resulting in a consensus recommendation of "Hold." View analyst ratings for Independent Bank Co.(MI).

Independent Bank Co.(MI) is scheduled to release its next quarterly earnings announcement on Monday, April 27th 2020. View our earnings forecast for Independent Bank Co.(MI).

Independent Bank Co.(MI) (NASDAQ:IBCP) posted its earnings results on Thursday, January, 23rd. The financial services provider reported $0.61 EPS for the quarter, beating the consensus estimate of $0.57 by $0.04. The financial services provider earned $46.31 million during the quarter, compared to analyst estimates of $44.21 million. Independent Bank Co.(MI) had a return on equity of 13.60% and a net margin of 23.61%. View Independent Bank Co.(MI)'s earnings history.

Independent Bank Co.(MI) announced a quarterly dividend on Monday, January 20th. Investors of record on Wednesday, February 5th will be paid 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 6.21%. The ex-dividend date of this dividend is Tuesday, February 4th. This is an increase from Independent Bank Co.(MI)'s previous quarterly dividend of $0.18. View Independent Bank Co.(MI)'s dividend history.

3 brokers have issued twelve-month price objectives for Independent Bank Co.(MI)'s stock. Their forecasts range from $24.00 to $24.00. On average, they anticipate Independent Bank Co.(MI)'s share price to reach $24.00 in the next twelve months. This suggests a possible upside of 86.2% from the stock's current price. View analysts' price targets for Independent Bank Co.(MI).

Press coverage about IBCP stock has trended extremely negative this week, according to InfoTrie Sentiment. InfoTrie identifies negative and positive media coverage by reviewing more than six thousand news and blog sources. The firm ranks coverage of publicly-traded companies on a scale of -5 to 5, with scores closest to five being the most favorable. Independent Bank Co.(MI) earned a media sentiment score of -4.0 on InfoTrie's scale. They also gave news coverage about the financial services provider a news buzz of 0.0 out of 10, indicating that recent media coverage is extremely unlikely to have an impact on the company's share price in the near future. View the latest news aboutIndependent Bank Co.(MI).

Independent Bank Co.(MI) saw a increase in short interest during the month of March. As of March 13th, there was short interest totaling 369,600 shares, an increase of 39.7% from the February 27th total of 264,500 shares. Based on an average daily trading volume, of 146,300 shares, the days-to-cover ratio is presently 2.5 days. Approximately 1.8% 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 S & T Bancorp (STBA), Pacific Premier Bancorp (PPBI), First Bancorp (FBP), Independent Bank Group (IBTX), Eagle Bancorp (EGBN), Southside Bancshares (SBSI), Seacoast Banking Co. of Florida (SBCF), Lakeland Financial (LKFN), TriCo Bancshares (TCBK), First Busey (BUSE), 1st Source (SRCE), Oritani Financial (ORIT), Enterprise Financial Services (EFSC), German American Bancorp. (GABC) and Veritex (VBTX).

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), Primo Water (PRMW) and Virtu Financial (VIRT).

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 Renaissance Technologies LLC (4.74%), Russell Investments Group Ltd. (4.06%), LSV Asset Management (4.01%), State Street Corp (3.00%), PL Capital Advisors LLC (2.75%) and Nuveen Asset Management LLC (1.64%). Company insiders that own Independent Bank Co.(MI) stock include Christina Keller, David C Reglin, Dennis J Mack, James J Twarozynski, Larry R Daniel, Jr, Matthew J Missad, 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 PL Capital Advisors LLC, THB Asset Management, Panagora Asset Management Inc., Stifel Financial Corp, AJO LP, Foundry Partners LLC, Wedge Capital Management L L P NC, and IndexIQ Advisors LLC. View insider buying and selling activity for Independent Bank Co.(MI).

IBCP stock was acquired by a variety of institutional investors in the last quarter, including FMR LLC, Bank of Montreal Can, Goldman Sachs Group Inc., Acadian Asset Management LLC, LSV Asset Management, Renaissance Technologies LLC, Bank of New York Mellon Corp, and Thrivent Financial for Lutherans. 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 $12.89.

Independent Bank Co.(MI) has a market capitalization of $285.00 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. 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]