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NASDAQ:IBCPIndependent Bank Co.(MI) Stock Price, Forecast & News

$13.40
+0.25 (+1.90 %)
(As of 07/13/2020 04:00 PM ET)
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Today's Range
$13.05
Now: $13.40
$13.67
50-Day Range
$13.15
MA: $14.34
$16.52
52-Week Range
$9.19
Now: $13.40
$23.93
Volume88,000 shs
Average Volume132,246 shs
Market Capitalization$293.37 million
P/E Ratio7.32
Dividend Yield6.08%
Beta0.95
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. It also provides title insurance, investment, and insurance brokerage services. The company offers its services through approximately 67 branches, 1 drive-thru facility, and 12 loan production offices. Independent Bank Corporation was founded in 1864 and is based in Grand Rapids, Michigan.
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Beat the Market (BTM) Rank

Analyst Opinion: 3.3Community Rank: 2.0Dividend Strength: 3.3Insider Behavior: 1.0Valuation: 1.9 5 -4 -3 -2 -1 -

Overall Beat the Market Rank

2.30 out of 5 stars


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$2.38 per share
Book Value$15.58 per share

Profitability

Net Income$46.44 million

Miscellaneous

Employees830
Market Cap$293.37 million
Next Earnings Date7/28/2020 (Confirmed)
OptionableOptionable

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Independent Bank Co.(MI) (NASDAQ:IBCP) Frequently Asked Questions

How has Independent Bank Co.(MI)'s stock been impacted by COVID-19 (Coronavirus)?

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 (WHO). Since then, IBCP shares have decreased by 16.7% and is now trading at $13.40. View which stocks have been most impacted by Coronavirus.

Do Wall Street analysts recommend investors buy shares of Independent Bank Co.(MI)?

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).

When is Independent Bank Co.(MI)'s next earnings date?

Independent Bank Co.(MI) is scheduled to release its next quarterly earnings announcement on Tuesday, July 28th 2020. View our earnings forecast for Independent Bank Co.(MI).

How can I listen to Independent Bank Co.(MI)'s earnings call?

Independent Bank Co.(MI) will be holding an earnings conference call on Tuesday, July 28th at 12:00 AM Eastern. Interested parties can register for or listen to the call using this link or dial in at Not Available.

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

Independent Bank Co.(MI) (NASDAQ:IBCP) issued its quarterly earnings results on Thursday, April, 30th. The financial services provider reported $0.21 earnings per share for the quarter, missing the Thomson Reuters' consensus estimate of $0.37 by $0.16. The financial services provider had revenue of $41.20 million for the quarter, compared to the consensus estimate 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.

How often does Independent Bank Co.(MI) pay dividends? What is the dividend yield for Independent Bank Co.(MI)?

Independent Bank Co.(MI) announced a quarterly dividend on Tuesday, April 21st. Stockholders 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 5.97%. The ex-dividend date of this dividend is Monday, May 4th. View Independent Bank Co.(MI)'s dividend history.

What price target have analysts set for IBCP?

5 equities research analysts have issued twelve-month price targets 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 year. This suggests a possible upside of 79.1% from the stock's current price. View analysts' price targets for Independent Bank Co.(MI).

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

News headlines about IBCP stock have trended very negative this week, InfoTrie Sentiment Analysis reports. The research group scores the sentiment of news 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 media sentiment score of -3.2 on InfoTrie's scale. They also assigned media stories 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 next few days. View the latest news about Independent Bank Co.(MI).

Are investors shorting Independent Bank Co.(MI)?

Independent Bank Co.(MI) saw a increase in short interest in June. As of June 30th, there was short interest totaling 312,500 shares, an increase of 10.7% from the June 15th total of 282,200 shares. Based on an average trading volume of 123,400 shares, the days-to-cover ratio is presently 2.5 days. Approximately 1.5% of the company's shares are sold short. 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), Occidental Petroleum (OXY), American River Bankshares (AMRB), First Busey (BUSE), Eagle Bancorp Montana (EBMT), Pfizer (PFE) and Pentair (PNR).

Who are Independent Bank Co.(MI)'s key executives?

Independent Bank Co.(MI)'s management team includes the following 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)

What is Independent Bank Co.(MI)'s stock symbol?

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

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 $13.40.

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

Independent Bank Co.(MI) has a market capitalization of $293.37 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.

What is Independent Bank Co.(MI)'s official website?

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

This page was last updated on 7/14/2020 by MarketBeat.com Staff

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