NASDAQ:IBCP - Independent Bank Co.(MI) Stock Price, Forecast & News

Independent Bank Co.(MI) trades on the NASDAQ under the ticker symbol "IBCP."

Independent Bank Co.(MI) declared a quarterly dividend on Monday, January 20th. Investors of record on Wednesday, February 5th will be given a dividend of $0.20 per share on Friday, February 14th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.62%. The ex-dividend date of this dividend is Tuesday, February 4th. This is a boost from Independent Bank Co.(MI)'s previous quarterly dividend of $0.18. View Independent Bank Co.(MI)'s Dividend History.

Independent Bank Co.(MI) announced that its board has approved a share buyback plan on Wednesday, January 31st 2018, which authorizes the company to buyback 500% of outstanding shares, according to EventVestor. This buyback authorization authorizes the company to buy shares of its stock through open market purchases. Shares buyback plans are often an indication that the company's leadership believes its stock is undervalued.

Independent Bank Co.(MI) (NASDAQ:IBCP) issued its quarterly earnings results on Thursday, January, 23rd. The financial services provider reported $0.61 EPS for the quarter, beating the Zacks' consensus estimate of $0.57 by $0.04. The financial services provider had revenue of $46.31 million for the quarter, compared to the consensus estimate of $44.21 million. Independent Bank Co.(MI) had a return on equity of 13.71% and a net margin of 23.61%. View Independent Bank Co.(MI)'s Earnings History.

Independent Bank Co.(MI) is scheduled to release their next quarterly earnings announcement on Monday, April 27th 2020. View Earnings Estimates for Independent Bank Co.(MI).

2 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 expect Independent Bank Co.(MI)'s stock price to reach $24.00 in the next twelve months. This suggests a possible upside of 8.6% from the stock's current price. View Analyst Price Targets for Independent Bank Co.(MI).

2 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 for the stock, resulting in a consensus recommendation of "Hold." View Analyst Ratings for Independent Bank Co.(MI).

Press coverage about IBCP stock has been trending extremely negative this week, InfoTrie Sentiment reports. The research firm identifies negative and positive press coverage by monitoring more than six thousand news and blog sources in real-time. The firm ranks coverage of publicly-traded companies on a scale of -5 to 5, with scores nearest to five being the most favorable. Independent Bank Co.(MI) earned a news sentiment score of -4.5 on InfoTrie's scale. They also assigned news stories 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 stock's share price in the immediate future. View News Stories for Independent Bank Co.(MI).

Independent Bank Co.(MI) saw a increase in short interest during the month of January. As of January 15th, there was short interest totalling 355,000 shares, an increase of 47.9% from the December 31st total of 240,000 shares. Based on an average daily volume of 79,200 shares, the days-to-cover ratio is presently 4.5 days. Currently, 1.7% of the company's shares are short sold. View Independent Bank Co.(MI)'s Current Options Chain.

Some companies that are related to Independent Bank Co.(MI) include Renasant (RNST), Pacific Premier Bancorp (PPBI), Great Western Bancorp (GWB), Banner (BANR), Heartland Financial USA (HTLF), Eagle Bancorp (EGBN), Seacoast Banking Co. of Florida (SBCF), Veritex (VBTX), First Busey (BUSE), S & T Bancorp (STBA), 1st Source (SRCE), Southside Bancshares (SBSI), Lakeland Financial (LKFN), Enterprise Financial Services (EFSC) and FB Financial (FBK).

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), First Busey (BUSE), Occidental Petroleum (OXY), American River Bankshares (AMRB), Eagle Bancorp Montana (EBMT), Virtu Financial (VIRT) and Boot Barn (BOOT).

Independent Bank Co.(MI)'s stock is owned by a variety of of retail and institutional investors. Top institutional investors include Wedge Capital Management L L P NC (0.17%) and Campbell & CO Investment Adviser LLC (0.14%). Company insiders that own Independent Bank Co.(MI) stock include David C Reglin, Dennis J Mack, James J Twarozynski, Larry R Daniel, Jr, Michael M Magee Jr, Patrick J Ervin, Robert N Shuster, Stefanie M Kimball, Terry L Haske and William B Kessel. View Institutional Ownership Trends for Independent Bank Co.(MI).

IBCP stock was sold by a variety of institutional investors in the last quarter, including Wedge Capital Management L L P NC. View Insider Buying and Selling for Independent Bank Co.(MI).

IBCP stock was acquired by a variety of institutional investors in the last quarter, including Campbell & CO Investment Adviser LLC. Company insiders that have bought Independent Bank Co.(MI) stock in the last two years include Michael M Magee Jr and Patrick J Ervin. View Insider Buying and Selling for 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.

One share of IBCP stock can currently be purchased for approximately $22.09.

Independent Bank Co.(MI) has a market capitalization of $496.58 million and generates $196.66 million in revenue each year. The financial services provider earns $39.84 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.View Additional Information About Independent Bank Co.(MI).

The official website for Independent Bank Co.(MI) is http://www.independentbank.com/.

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]