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S&P 500   4,280.15
DOW   33,761.05
QQQ   330.39
Sinema took Wall Street money while killing tax on investors
Apple’s Next “Star Product” Could Replace The iPhone? (Ad)pixel
Expanded IRS free-file system one step closer in Dems' bill
Climate bill: Could coal communities shift to nuclear?
Germans urged to cap heat in offices this winter to save gas
New $2.2 Quadrillion Trend About To Open Up (Ad)pixel
Italy's Lake Garda shrinks to near-historic low amid drought
The 7 Types Of People Every Entrepreneur Needs In Their Inner Circle -- And How To Find Them
Former Deutsche Bank Co-CEO Anshu Jain dies
New $2.2 Quadrillion Trend About To Open Up (Ad)pixel
S&P 500   4,280.15
DOW   33,761.05
QQQ   330.39
Sinema took Wall Street money while killing tax on investors
Apple’s Next “Star Product” Could Replace The iPhone? (Ad)pixel
Expanded IRS free-file system one step closer in Dems' bill
Climate bill: Could coal communities shift to nuclear?
Germans urged to cap heat in offices this winter to save gas
New $2.2 Quadrillion Trend About To Open Up (Ad)pixel
Italy's Lake Garda shrinks to near-historic low amid drought
The 7 Types Of People Every Entrepreneur Needs In Their Inner Circle -- And How To Find Them
Former Deutsche Bank Co-CEO Anshu Jain dies
New $2.2 Quadrillion Trend About To Open Up (Ad)pixel
S&P 500   4,280.15
DOW   33,761.05
QQQ   330.39
Sinema took Wall Street money while killing tax on investors
Apple’s Next “Star Product” Could Replace The iPhone? (Ad)pixel
Expanded IRS free-file system one step closer in Dems' bill
Climate bill: Could coal communities shift to nuclear?
Germans urged to cap heat in offices this winter to save gas
New $2.2 Quadrillion Trend About To Open Up (Ad)pixel
Italy's Lake Garda shrinks to near-historic low amid drought
The 7 Types Of People Every Entrepreneur Needs In Their Inner Circle -- And How To Find Them
Former Deutsche Bank Co-CEO Anshu Jain dies
New $2.2 Quadrillion Trend About To Open Up (Ad)pixel
NASDAQ:IBCP

Independent Bank - IBCP Stock Forecast, Price & News

$21.31
+0.25 (+1.19%)
(As of 08/12/2022 12:00 AM ET)
Add
Compare
Today's Range
$21.14
$21.35
50-Day Range
$17.94
$21.31
52-Week Range
$17.87
$26.00
Volume
119,995 shs
Average Volume
67,512 shs
Market Capitalization
$448.79 million
P/E Ratio
7.72
Dividend Yield
4.18%
Price Target
$20.00

Independent Bank MarketRank™ Forecast

Analyst Rating
Hold
2.00 Rating Score
Upside/​Downside
6.1% Downside
$20.00 Price Target
Short Interest
Healthy
2.65% of Float Sold Short
Dividend Strength
Strong
Based on Four Factors
Sustainability
N/A
News Sentiment
1.41mentions of Independent Bank in the last 14 days
Based on 9 Articles This Week
Insider Trading
Selling Shares
$94,679 Sold Last Quarter
Proj. Earnings Growth
-3.00%
From $2.67 to $2.59 Per Share

Overall MarketRank

MarketRank is calculated as an average of available category scores, with extra weight given to analysis and valuation.

2.19 out of 5 stars

Finance Sector

580th out of 926 stocks

State Commercial Banks Industry

134th out of 193 stocks

IBCP stock logo

About Independent Bank (NASDAQ:IBCP) Stock

Independent Bank Corporation operates as the bank 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 machine, and Internet and mobile banking services. It also provides title insurance, insurance brokerage, and investment services. The company offers its services through approximately 59 branches, two drive-thru facilities, and seven loan production offices in Michigan; and two loan production offices in Ohio. Independent Bank Corporation was founded in 1864 and is based in Grand Rapids, Michigan.

Independent Bank Stock Performance

IBCP traded up $0.25 during mid-day trading on Friday, reaching $21.31. 119,995 shares of the company traded hands, compared to its average volume of 67,512. The stock has a market capitalization of $448.79 million, a P/E ratio of 7.72 and a beta of 0.97. The company has a quick ratio of 0.73, a current ratio of 0.78 and a debt-to-equity ratio of 0.32. The company's fifty day moving average price is $19.61 and its 200-day moving average price is $21.16. Independent Bank has a 52-week low of $17.87 and a 52-week high of $26.00.

Independent Bank (NASDAQ:IBCP - Get Rating) last posted its quarterly earnings data on Tuesday, July 26th. The financial services provider reported $0.61 EPS for the quarter, topping the consensus estimate of $0.56 by $0.05. The firm had revenue of $50.69 million during the quarter, compared to analyst estimates of $47.75 million. Independent Bank had a return on equity of 16.01% and a net margin of 27.75%. During the same period in the prior year, the business posted $0.56 EPS. On average, sell-side analysts expect that Independent Bank will post 2.67 EPS for the current year.

Independent Bank Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 16th. Stockholders of record on Friday, August 5th will be paid a $0.22 dividend. The ex-dividend date is Thursday, August 4th. This represents a $0.88 annualized dividend and a dividend yield of 4.13%. Independent Bank's dividend payout ratio (DPR) is 31.88%.

Wall Street Analysts Forecast Growth

IBCP has been the subject of a number of research reports. DA Davidson reiterated a "neutral" rating on shares of Independent Bank in a research note on Wednesday, July 27th. StockNews.com lowered shares of Independent Bank from a "buy" rating to a "hold" rating in a research note on Thursday, August 4th.

Insider Transactions at Independent Bank

In other news, SVP James J. Twarozynski sold 2,500 shares of the company's stock in a transaction on Thursday, July 28th. The stock was sold at an average price of $20.47, for a total value of $51,175.00. Following the completion of the sale, the senior vice president now directly owns 8,409 shares in the company, valued at approximately $172,132.23. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Stefanie M. Kimball sold 2,239 shares of the company's stock in a transaction on Tuesday, May 17th. The shares were sold at an average price of $19.43, for a total value of $43,503.77. Following the completion of the transaction, the executive vice president now owns 59,882 shares of the company's stock, valued at approximately $1,163,507.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP James J. Twarozynski sold 2,500 shares of the company's stock in a transaction on Thursday, July 28th. The stock was sold at an average price of $20.47, for a total transaction of $51,175.00. Following the completion of the transaction, the senior vice president now directly owns 8,409 shares of the company's stock, valued at approximately $172,132.23. The disclosure for this sale can be found here. 5.20% of the stock is currently owned by company insiders.

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IBCP Stock News Headlines

Independent Bank (IBCP) Scheduled to Post Earnings on Tuesday
Best Value Stocks to Buy for July 13th
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IBCP Company Calendar

Ex-Dividend for 5/16 Dividend
5/04/2022
Dividend Payable
5/16/2022
Last Earnings
7/26/2022
Ex-Dividend for 8/16 Dividend
8/04/2022
Today
8/13/2022
Dividend Payable
8/16/2022
Next Earnings (Estimated)
10/25/2022
Fiscal Year End
12/31/2022

Industry, Sector and Symbol

Industry
State commercial banks
Sub-Industry
N/A
Sector
Finance
Current Symbol
NASDAQ:IBCP
Employees
866
Year Founded
N/A

Price Target and Rating

Average Stock Price Forecast
$20.00
High Stock Price Forecast
$20.00
Low Stock Price Forecast
$20.00
Forecasted Upside/Downside
-6.1%
Consensus Rating
Hold
Rating Score (0-4)
2.00
Research Coverage
1 Analysts

Profitability

Net Income
$62.90 million
Pretax Margin
34.11%

Debt

Sales & Book Value

Annual Sales
$214.72 million
Cash Flow
$3.57 per share
Book Value
$15.73 per share

Miscellaneous

Free Float
19,961,000
Market Cap
$448.79 million
Optionable
Optionable
Beta
0.97

Key Executives














IBCP Stock - Frequently Asked Questions

Should I buy or sell Independent Bank stock right now?

1 Wall Street equities research analysts have issued "buy," "hold," and "sell" ratings for Independent Bank in the last twelve months. There are currently 1 hold rating for the stock. The consensus among Wall Street equities research analysts is that investors should "hold" IBCP shares. A hold rating indicates that analysts believe investors should maintain any existing positions they have in IBCP, but not buy additional shares or sell existing shares.
View IBCP analyst ratings
or view top-rated stocks.

What is Independent Bank's stock price forecast for 2022?

1 equities research analysts have issued 1 year price targets for Independent Bank's stock. Their IBCP share price forecasts range from $20.00 to $20.00. On average, they anticipate the company's share price to reach $20.00 in the next year. This suggests that the stock has a possible downside of 6.1%.
View analysts price targets for IBCP
or view top-rated stocks among Wall Street analysts.

How have IBCP shares performed in 2022?

Independent Bank's stock was trading at $23.87 on January 1st, 2022. Since then, IBCP shares have decreased by 10.7% and is now trading at $21.31.
View the best growth stocks for 2022 here
.

When is Independent Bank's next earnings date?

The company is scheduled to release its next quarterly earnings announcement on Tuesday, October 25th 2022.
View our IBCP earnings forecast
.

How were Independent Bank's earnings last quarter?

Independent Bank Co. (NASDAQ:IBCP) issued its quarterly earnings results on Tuesday, July, 26th. The financial services provider reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.05. The financial services provider had revenue of $50.69 million for the quarter, compared to analysts' expectations of $47.75 million. Independent Bank had a net margin of 27.75% and a trailing twelve-month return on equity of 16.01%. During the same quarter in the previous year, the firm earned $0.56 earnings per share.

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

Independent Bank announced a quarterly dividend on Tuesday, July 19th. Shareholders of record on Friday, August 5th will be paid a dividend of $0.22 per share on Tuesday, August 16th. This represents a $0.88 annualized dividend and a dividend yield of 4.13%. The ex-dividend date is Thursday, August 4th.
Read our dividend analysis for IBCP
.

Is Independent Bank a good dividend stock?

Independent Bank (NASDAQ:IBCP) pays an annual dividend of $0.88 per share and currently has a dividend yield of 4.18%. IBCP has a dividend yield higher than 75% of all dividend-paying stocks, making it a leading dividend payer. The company has been increasing its dividend for 8 consecutive years, indicating the company has a new, but growing committment to grow its dividend. The dividend payout ratio is 31.88%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, IBCP will have a dividend payout ratio of 33.98% next year. This indicates that the company will be able to sustain or increase its dividend.
Read our dividend analysis for IBCP.

What is William "Brad" Kessel's approval rating as Independent Bank's CEO?

15 employees have rated Independent Bank Chief Executive Officer William "Brad" Kessel on Glassdoor.com. William "Brad" Kessel has an approval rating of 95% among the company's employees. This puts William "Brad" Kessel in the top 30% of approval ratings compared to other CEOs of publicly-traded companies.

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), APA (APA), Pfizer (PFE), Aegean Marine Petroleum Network (ANW), Occidental Petroleum (OXY), Pentair (PNR), Citigroup (C), NextEra Energy Partners (NEP) and Primo Water (PRMW).

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 many different institutional and retail investors. Top institutional shareholders include Renaissance Technologies LLC (3.26%), JPMorgan Chase & Co. (2.38%), Allspring Global Investments Holdings LLC (1.26%), Principal Financial Group Inc. (1.24%), Northern Trust Corp (1.11%) and Assenagon Asset Management S.A. (0.56%). Insiders that own company stock include Christina Keller, Dennis W Archer Jr, James J Twarozynski, Matthew J Missad, Michael M Magee Jr, Patrick J Ervin, Robert N Shuster, Ronia F Kruse, Stefanie M Kimball, Stefanie M Kimball and William B Kessel.
View institutional ownership trends
.

How do I buy shares of Independent Bank?

Shares of IBCP stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include WeBull, Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab.
Compare Top Brokerages Here.

What is Independent Bank's stock price today?

One share of IBCP stock can currently be purchased for approximately $21.31.

How much money does Independent Bank make?

Independent Bank (NASDAQ:IBCP) has a market capitalization of $448.79 million and generates $214.72 million in revenue each year. The financial services provider earns $62.90 million in net income (profit) each year or $2.76 on an earnings per share basis.

How many employees does Independent Bank have?

The company employs 866 workers across the globe.

How can I contact Independent Bank?

Independent Bank's mailing address is 4200 E BELTLINE, GRAND RAPIDS MI, 49525. The official website for the company is www.independentbank.com. The financial services provider can be reached via phone at (616) 527-5820, via email at rshuster@ibcp.com, or via fax at 616-527-4004.

This page (NASDAQ:IBCP) was last updated on 8/14/2022 by MarketBeat.com Staff

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