NASDAQ:IBCPIndependent Bank Co.(MI) Stock Price, Forecast & News Adding Choose a watchlist: Adding You have already added five stocks to your watchlist. Upgrade to MarketBeat Daily Premium to add more stocks to your watchlist. Adding Independent Bank Co.(MI) Please log in to your account or sign up in order to add this asset to your watchlist. Log In and Add $13.82 -0.65 (-4.49 %) (As of 06/1/2020 04:00 PM ET) Add Compare Share Today's Range$13.61Now: $13.82▼$14.1650-Day Range$11.63MA: $13.52▼$16.2552-Week Range$9.19Now: $13.82▼$23.93Volume108,600 shsAverage Volume130,617 shsMarket Capitalization$302.56 millionP/E Ratio7.55Dividend Yield5.79%Beta0.94 ProfileAnalyst RatingsAdvanced ChartCompetitorsDividendEarningsFinancialsInsider TradesInstitutional OwnershipHeadlinesOptions ChainSEC FilingsSocial Media 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.Read More Beat the Market (BTM) Rank™ 3.3 Analyst's Opinion Consensus RatingIndependent Bank Co.(MI) has received a consensus rating of Buy. The company's average rating score is 2.60, and is based on 3 buy ratings, 2 hold ratings, and no sell ratings.Price Target Upside/DownsideAccording to analysts' consensus price target of $24.00, Independent Bank Co.(MI) has a potential upside of 73.7% from its current price of $13.82.Amount of Analyst CoverageIndependent Bank Co.(MI) has only been the subject of 2 research reports in the past 90 days. Previous Next 2.0 Community Rank Outperform VotesIndependent Bank Co.(MI) has received 206 “outperform” votes. (Add your “outperform” vote.)Underperform VotesIndependent Bank Co.(MI) has received 300 “underperform” votes. (Add your “underperform” vote.)Community SentimentIndependent Bank Co.(MI) has received 59.29% “underperform” votes from our community.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. Previous Next 3.3 Dividend Strength Dividend LeadershipIndependent Bank Co.(MI) is a leading dividend payer. It pays a dividend yield of 5.79%, putting its dividend yield in the top 25% of dividend-paying stocks.Dividend GrowthIndependent Bank Co.(MI) has only been increasing its dividend for 4 years.Dividend CoverageThe dividend payout ratio of Independent Bank Co.(MI) is 40.00 %. This payout ratio is at a healthy, sustainable level, below 75%.Dividend SustainabilityBased on earnings estimates, Independent Bank Co.(MI) will have a dividend payout ratio of 54.79 % next year. This indicates that Independent Bank Co.(MI) will be able to sustain or increase its dividend. Previous Next 4.0 Company Ownership Insider Buying vs. Insider SellingIn the past three months, Independent Bank Co.(MI) insiders have bought more of their company's stock than they have sold. Specifically, they have bought $94,928.00 in company stock and sold $0.00 in company stock.Percentage Held by InsidersOnly 4.44% of the stock of Independent Bank Co.(MI) is held by insiders.Percentage Held by Institutions81.45% of the stock of Independent Bank Co.(MI) is held by institutions. High institutional ownership can be a signal of strong market trust in this company. Previous Next 2.5 Earnings and Valuation Earnings GrowthEarnings for Independent Bank Co.(MI) are expected to grow by 9.77% in the coming year, from $1.33 to $1.46 per share.Price to Earnings Ratio vs. the MarketThe P/E ratio of Independent Bank Co.(MI) is 7.55, which means that it is trading at a less expensive P/E ratio than the market average P/E ratio of about 15.51.Price to Earnings Ratio vs. SectorThe P/E ratio of Independent Bank Co.(MI) is 7.55, which means that it is trading at a less expensive P/E ratio than the Finance sector average P/E ratio of about 18.93.Price to Book Value per Share RatioIndependent Bank Co.(MI) has a P/B Ratio of 0.89. P/B Ratios below 1 indicate that a company could be undervalued with respect to its assets and liabilities. Previous Next Analyst Opinion: 3.3Community Rank: 2.0Dividend Strength: 3.3Insider Behavior: 4.0Valuation: 2.5 5 -4 -3 -2 -1 -Overall Beat the Market Rank™3.03 out of 5 stars Industry, Sector and Symbol Stock Exchange NASDAQ Industry State commercial banks Sub-IndustryN/A SectorFinance Current SymbolNASDAQ:IBCP Previous Symbol CUSIPN/A CIK39311 Webwww.independentbank.com Phone616-527-5820Debt Debt-to-Equity Ratio0.42 Current Ratio0.91 Quick Ratio0.89Price-To-Earnings Trailing P/E Ratio7.55 Forward P/E Ratio10.39 P/E GrowthN/A Sales & Book Value Annual Sales$196.66 million Price / Sales1.54 Cash Flow$2.33 per share Price / Cash Flow5.92 Book Value$15.58 per share Price / Book0.89Profitability EPS (Most Recent Fiscal Year)$2.00 Net Income$46.44 million Net Margins21.29% Return on Equity12.34% Return on Assets1.18%Miscellaneous Employees830 Outstanding Shares21,893,000Market Cap$302.56 million Next Earnings Date7/23/2020 (Estimated) OptionableOptionable NASDAQ:IBCP Rates by TradingView Receive IBCP News and Ratings via Email Sign-up to receive the latest news and ratings for IBCP and its competitors with MarketBeat's FREE daily newsletter. 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 COVID-19 reached pandemic status according to the World Health Organization. Since then, IBCP shares have decreased by 14.1% and is now trading at $13.82. 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, July 23rd 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) released its earnings results on Thursday, April, 30th. The financial services provider reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by $0.16. The financial services provider earned $41.20 million during the quarter, compared to analysts' expectations 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. Investors of record on Tuesday, May 5th will be paid a dividend of $0.20 per share on Friday, May 15th. This represents a $0.80 annualized dividend and a dividend yield of 5.79%. 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 Wall Street 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 anticipate Independent Bank Co.(MI)'s stock price to reach $24.00 in the next year. This suggests a possible upside of 73.7% 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 stories about IBCP stock have trended extremely negative this week, according to InfoTrie Sentiment. The research group rates the sentiment of press coverage by analyzing more than six thousand blog and news sources in real-time. The firm ranks coverage of companies on a scale of -5 to 5, with scores nearest to five being the most favorable. Independent Bank Co.(MI) earned a daily sentiment score of -4.0 on InfoTrie's scale. They also assigned headlines 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 company's share price in the next few days. View the latest news aboutIndependent Bank Co.(MI). Who are some of Independent Bank Co.(MI)'s key competitors? 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. 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 variety of institutional and retail investors. Top institutional shareholders 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). 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 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). 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 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). 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 $13.82. How big of a company is Independent Bank Co.(MI)? Independent Bank Co.(MI) has a market capitalization of $302.56 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 6/1/2020 by MarketBeat.com Staff
