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

$13.87
+0.23 (+1.69 %)
(As of 08/5/2020 12:39 PM ET)
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Compare
Today's Range
$13.58
Now: $13.87
$13.88
50-Day Range
$12.91
MA: $13.84
$15.03
52-Week Range
$9.19
Now: $13.87
$23.93
Volume1,477 shs
Average Volume117,977 shs
Market Capitalization$303.61 million
P/E Ratio6.80
Dividend Yield5.79%
Beta0.89
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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Independent Bank Co.(MI) logo

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$2.35 per share
Book Value$15.58 per share

Profitability

Net Income$46.44 million

Miscellaneous

Employees830
Market Cap$303.61 million
Next Earnings Date10/22/2020 (Estimated)
OptionableOptionable
$13.87
+0.23 (+1.69 %)
(As of 08/5/2020 12:39 PM ET)
30 days | 90 days | 365 days | Advanced Chart

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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 (COVID-19) reached pandemic status according to the World Health Organization. Since then, IBCP stock has decreased by 13.7% and is now trading at $13.87.
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 Thursday, October 22nd 2020.
View our earnings forecast for Independent Bank Co.(MI)
.

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

Independent Bank Co.(MI) (NASDAQ:IBCP) announced its quarterly earnings results on Tuesday, July, 28th. The financial services provider reported $0.67 EPS for the quarter, topping the Zacks' consensus estimate of $0.25 by $0.42. The financial services provider earned $50.83 million during the quarter, compared to analyst estimates of $46.45 million. Independent Bank Co.(MI) had a net margin of 22.58% and a return on equity of 13.42%.
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 Wednesday, July 22nd. Investors of record on Tuesday, August 4th will be given a dividend of $0.20 per share on Friday, August 14th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 5.77%. The ex-dividend date is Monday, August 3rd.
View Independent Bank Co.(MI)'s dividend history
.

What price target have analysts set for IBCP?

5 analysts have issued 12 month price targets 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 stock price to reach $24.00 in the next twelve months. This suggests a possible upside of 73.0% 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?

Media headlines about IBCP stock have been trending somewhat negative recently, according to InfoTrie Sentiment Analysis. The research firm identifies negative and positive news coverage by monitoring more than six thousand news and blog sources in real-time. 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 media sentiment score of -1.0 on InfoTrie's scale. They also gave news headlines about the financial services provider a news buzz of 5.0 out of 10, meaning that recent news coverage is somewhat likely to have an effect on the stock's share price in the near term.
View the latest news about Independent Bank Co.(MI)
.

Are investors shorting Independent Bank Co.(MI)?

Independent Bank Co.(MI) saw a decline in short interest in July. As of July 15th, there was short interest totaling 424,000 shares, a decline of 5.5% from the June 30th total of 448,600 shares. Based on an average trading volume of 118,500 shares, the days-to-cover ratio is currently 3.6 days. Approximately 2.0% of the shares of the company 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), 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."

Who are Independent Bank Co.(MI)'s major shareholders?

Independent Bank Co.(MI)'s stock is owned by a number of institutional and retail investors. Top institutional shareholders include Foundry Partners LLC (1.02%), Assenagon Asset Management S.A. (0.31%), Ziegler Capital Management LLC (0.26%), Creative Planning (0.15%), UBS Group AG (0.07%) and Regal Investment Advisors LLC (0.07%). 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, Stefanie M Kimball 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 Ziegler Capital Management LLC, Creative Planning, and UBS Group AG. Company insiders that have sold Independent Bank Co.(MI) company stock in the last year include Robert N Shuster, and Stefanie M Kimball.
View insider buying and selling activity for Independent Bank Co.(MI)
.

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

IBCP stock was bought by a variety of institutional investors in the last quarter, including Assenagon Asset Management S.A., Regal Investment Advisors LLC, Mackay Shields LLC, and Foundry Partners LLC. 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)
.

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 $13.87.

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

Independent Bank Co.(MI) has a market capitalization of $303.61 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 8/5/2020 by MarketBeat.com Staff

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