NASDAQ:IBCP

Independent Bank Stock Forecast, Price & News

$14.96

+0.29 (+1.98 %)

(As of 10/29/2020 12:00 AM ET)

Add

Compare

Today's Range

$14.19

Now: $14.96▼

$15.05

50-Day Range

$12.29

MA: $13.77▼

$15.17

52-Week Range

$9.19

Now: $14.96▼

$23.15

Volume78,462 shs

Average Volume116,256 shs

Market Capitalization$327.34 million

P/E Ratio7.33

Dividend Yield5.45%

Beta1.02

Independent Bank Corporation operates as the holding company for Independent Bank that provides various banking services to individuals and businesses. 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, insurance brokerage, and investment services. The company offers its services through approximately 66 branches, two drive-thru facility, and nine loan production offices in Michigan; and three loan production offices in Ohio. Independent Bank Corporation was founded in 1864 and is based in Grand Rapids, Michigan.

Beat the Market (BTM) Rank^™

3.3 Analyst's Opinion

Consensus Rating
Independent Bank 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/Downside
According to analysts' consensus price target of $19.50, Independent Bank has a forecasted upside of 30.3% from its current price of $14.96.
Amount of Analyst Coverage
Independent Bank has only been the subject of 2 research reports in the past 90 days.

2.0 Community Rank

Outperform Votes
Independent Bank has received 210 “outperform” votes. (Add your “outperform” vote.)
Underperform Votes
Independent Bank has received 308 “underperform” votes. (Add your “underperform” vote.)
Community Sentiment
Independent Bank has received 59.46% “underperform” votes from our community.

MarketBeat's community ratings are surveys of what our community members think about Independent Bank 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.

3.3 Dividend Strength

Dividend Leadership
Independent Bank is a leading dividend payer. It pays a dividend yield of 5.45%, putting its dividend yield in the top 25% of dividend-paying stocks.
Dividend Growth
Independent Bank has only been increasing its dividend for 1 years.
Dividend Coverage
The dividend payout ratio of Independent Bank is 40.00%. This payout ratio is at a healthy, sustainable level, below 75%.
Dividend Sustainability
Based on earnings estimates, Independent Bank will have a dividend payout ratio of 53.69% next year. This indicates that Independent Bank will be able to sustain or increase its dividend.

1.0 Company Ownership

Insider Buying vs. Insider Selling
In the past three months, Independent Bank insiders have not sold or bought any company stock.
Percentage Held by Insiders
Only 4.44% of the stock of Independent Bank is held by insiders.
Percentage Held by Institutions
82.13% of the stock of Independent Bank is held by institutions. High institutional ownership can be a signal of strong market trust in this company.

1.9 Earnings and Valuation

Earnings Growth
Earnings for Independent Bank are expected to decrease by -20.74% in the coming year, from $1.88 to $1.49 per share.
Price to Earnings Ratio vs. the Market
The P/E ratio of Independent Bank is 7.33, which means that it is trading at a less expensive P/E ratio than the market average P/E ratio of about 18.71.
Price to Earnings Ratio vs. Sector
The P/E ratio of Independent Bank is 7.33, which means that it is trading at a less expensive P/E ratio than the Finance sector average P/E ratio of about 17.51.
Price to Book Value per Share Ratio
Independent Bank has a P/B Ratio of 0.96. P/B Ratios below 1 indicate that a company could be undervalued with respect to its assets and liabilities.

Overall Beat the Market Rank^™

2.30 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

Phone616-527-5820

Employees848

Debt

Debt-to-Equity Ratio0.36

Current Ratio0.85

Quick Ratio0.83

Price-To-Earnings

Trailing P/E Ratio7.33

Forward P/E Ratio7.96

P/E GrowthN/A

Sales & Book Value

Annual Sales$196.66 million

Price / Sales1.66

Cash Flow$2.49 per share

Price / Cash Flow6.00

Book Value$15.58 per share

Price / Book0.96

Profitability

EPS (Most Recent Fiscal Year)$2.00

Net Income$46.44 million

Net Margins22.58%

Return on Equity13.30%

Return on Assets1.24%

Miscellaneous

Outstanding Shares21,881,000

Market Cap$327.34 million

Next Earnings Date1/28/2021 (Estimated)

OptionableOptionable

$14.96

+0.29 (+1.98 %)

(As of 10/29/2020 12:00 AM ET)

30 days | 90 days | 365 days | Advanced Chart

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 (NASDAQ:IBCP) Frequently Asked Questions

How has Independent Bank's stock price been impacted by COVID-19?

Independent Bank'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 7.0% and is now trading at $14.96.
View which stocks have been most impacted by COVID-19.

Do Wall Street analysts recommend investors buy shares of Independent Bank?

5 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Independent Bank 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.

When is Independent Bank's next earnings date?

Independent Bank is scheduled to release its next quarterly earnings announcement on Thursday, January 28th 2021.
View our earnings forecast for Independent Bank.

How were Independent Bank's earnings last quarter?

Independent Bank Co. (NASDAQ:IBCP) released its quarterly earnings data on Saturday, October, 31st. The financial services provider reported $0.89 EPS for the quarter, topping the Thomson Reuters' consensus estimate of $0.48 by $0.41. Independent Bank had a return on equity of 13.30% and a net margin of 22.58%.
View Independent Bank's earnings history.

How often does Independent Bank pay dividends? What is the dividend yield for Independent Bank?

Independent Bank announced a quarterly dividend on Tuesday, October 20th. Shareholders of record on Thursday, November 5th will be paid a dividend of $0.20 per share on Monday, November 16th. This represents a $0.80 annualized dividend and a yield of 5.35%. The ex-dividend date is Wednesday, November 4th.
View Independent Bank's dividend history.

What price target have analysts set for IBCP?

5 brokerages have issued twelve-month target prices for Independent Bank's stock. Their forecasts range from $15.00 to $24.00. On average, they anticipate Independent Bank's share price to reach $19.50 in the next twelve months. This suggests a possible upside of 30.3% from the stock's current price.
View analysts' price targets for Independent Bank.

Who are some of Independent Bank's key competitors?

Some companies that are related to Independent Bank include TowneBank (TOWN), Lakeland Financial (LKFN), Banner (BANR), Heartland Financial USA (HTLF), Seacoast Banking Co. of Florida (SBCF), Triumph Bancorp (TBK), First Busey (BUSE), Eagle Bancorp (EGBN), Veritex (VBTX), FB Financial (FBK), Southside Bancshares (SBSI), Stock Yards Bancorp (SYBT), TriCo Bancshares (TCBK), 1st Source (SRCE) and Tompkins Financial (TMP).
View all competitors.

What other stocks do shareholders of Independent Bank own?

Based on aggregate information from My MarketBeat watchlists, some companies that other Independent Bank investors own include Endologix (ELGX), Chipotle Mexican Grill (CMG), Apache (APA), Pfizer (PFE), Aegean Marine Petroleum Network (ANW), Occidental Petroleum (OXY), Pentair (PNR), Citigroup (C), NextEra Energy Partners (NEP) and Primo Water (PRMW).

Who are Independent Bank's key executives?

Independent Bank's management team includes the following people:

Mr. William Bradford Kessel CPA, Pres, CEO & Director (Age 56, Pay $849.82k)
Mr. Robert N. Shuster CPA, CPA, Sr. Financial Exec. (Age 62, Pay $442.44k)
Ms. Stefanie M. Kimball, Exec. VP & Chief Risk Officer (Age 60, Pay $429.86k)
Mr. Patrick J. Ervin, Exec. VP of Mortgage Banking (Age 54, Pay $405.07k)
Mr. Gavin A. Mohr, CFO, Exec. VP, Treasurer & Sec.
Mr. Larry Russ Daniel Jr., Exec. VP of Operations & Digital Banking (Age 56)
Mr. Peter R. Graves, Chief Information Officer & Sr. VP of Commercial Loans (Age 63)
Ms. Laurinda M. Neve, Sr. VP of HR (Age 68)
Mr. David C. Reglin, Exec. VP of Retail Banking (Age 61)
Mr. Charles F. Schadler, Sr. VP of Corp. Auditor (Age 71)

What is Independent Bank's stock symbol?

Independent Bank trades on the NASDAQ under the ticker symbol "IBCP."

Who are Independent Bank's major shareholders?

Independent Bank's stock is owned by a number of institutional and retail investors. Top institutional shareholders include LSV Asset Management (3.85%), Foundry Partners LLC (0.97%), Wedge Capital Management L L P NC (0.45%), Assenagon Asset Management S.A. (0.26%), Ziegler Capital Management LLC (0.25%) and Bowling Portfolio Management LLC (0.07%). Company insiders that own Independent Bank 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.

Which major investors are selling Independent Bank stock?

IBCP stock was sold by a variety of institutional investors in the last quarter, including LSV Asset Management, Foundry Partners LLC, Assenagon Asset Management S.A., and Ziegler Capital Management LLC. Company insiders that have sold Independent Bank company stock in the last year include Robert N Shuster, and Stefanie M Kimball.
View insider buying and selling activity for Independent Bank.

Which major investors are buying Independent Bank stock?

IBCP stock was purchased by a variety of institutional investors in the last quarter, including Wedge Capital Management L L P NC, Bowling Portfolio Management LLC, Nisa Investment Advisors LLC, and Denali Advisors LLC. Company insiders that have bought Independent Bank 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.

How do I buy shares of Independent Bank?

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's stock price today?

One share of IBCP stock can currently be purchased for approximately $14.96.

How big of a company is Independent Bank?

Independent Bank has a market capitalization of $327.34 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 employs 848 workers across the globe.

What is Independent Bank's official website?

The official website for Independent Bank is www.independentbank.com.

How can I contact Independent Bank?

Independent Bank'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 10/29/2020 by MarketBeat.com Staff

30 Days of MarketBeat All Access for $1.00

Best-in-Class Portfolio Monitoring
View the latest news, buy/sell ratings, SEC filings and insider transactions for your stocks. Compare your portfolio performance to leading indices and get personalized stock ideas based on your portfolio.
Stock Ideas and Recommendations
Get daily stock ideas top-performing Wall Street analysts. Get short term trading ideas from the MarketBeat Idea Engine. View which stocks are hot on social media with MarketBeat's trending stocks report.
Advanced Stock Screeners and Research Tools
Identify stocks that meet your criteria using seven unique stock screeners. See what's happening in the market right now with MarketBeat's real-time news feed. Export data to Excel for your own analysis.

Start Your Risk-Free Trial Subscription Here

Get Started with MarketBeat

	Read Your Daily Newsletter
	Check Out My MarketBeat
	Watch Our Tutorial Videos
	Add a Stock to Your Watchlist
	Set Up an Instant Alert
	View a Company's Profile Page
	View Our Financial Calendars
	View Today's Analyst Ratings