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

$13.82
-0.65 (-4.49 %)
(As of 05/29/2020 04:00 PM ET)
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Today's Range
$13.61
Now: $13.82
$14.16
50-Day Range
$11.63
MA: $13.52
$16.25
52-Week Range
$9.19
Now: $13.82
$23.93
Volume85,698 shs
Average Volume101,043 shs
Market Capitalization$302.52 million
P/E Ratio7.55
Dividend Yield5.53%
Beta0.97
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: 4.0Valuation: 2.5 5 -4 -3 -2 -1 -

Overall Beat the Market Rank

3.03 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$2.23 per share
Book Value$15.33 per share

Profitability

Net Income$46.44 million

Miscellaneous

Employees830
Market Cap$302.52 million
Next Earnings Date7/23/2020 (Estimated)
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 (COVID-19) reached pandemic status according to the World Health Organization (WHO). Since then, IBCP stock has 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) issued its quarterly earnings data on Thursday, April, 30th. The financial services provider reported $0.21 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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) declared a quarterly dividend on Tuesday, April 21st. Stockholders 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 yield of 5.79%. The ex-dividend date is Monday, May 4th. View Independent Bank Co.(MI)'s dividend history.

What price target have analysts set for IBCP?

5 analysts have issued 12 month target prices for Independent Bank Co.(MI)'s stock. 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 twelve months. 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 headlines about IBCP stock have been trending very negative recently, InfoTrie Sentiment reports. The research firm identifies positive and negative media coverage by analyzing more than six thousand news and blog sources in real-time. The firm ranks coverage of public companies on a scale of negative five to positive five, with scores closest to five being the most favorable. Independent Bank Co.(MI) earned a media sentiment score of -3.0 on InfoTrie's scale. They also gave media headlines about the financial services provider a news buzz of 0.0 out of 10, indicating that recent media coverage is extremely unlikely to have an effect on the stock's share price in the next several days. View the latest news aboutIndependent Bank Co.(MI).

Are investors shorting Independent Bank Co.(MI)?

Independent Bank Co.(MI) saw a increase in short interest during the month of April. As of April 15th, there was short interest totaling 297,000 shares, an increase of 7.7% from the March 31st total of 275,700 shares. Based on an average daily volume of 144,500 shares, the days-to-cover ratio is currently 2.1 days. Currently, 1.4% of the company's stock 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."

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

Independent Bank Co.(MI)'s stock is owned by a variety of retail and institutional investors. Top institutional investors 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, Dennis J Mack, James J Twarozynski, 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 acquired 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 $302.52 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 5/30/2020 by MarketBeat.com Staff

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