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

$12.89
+0.12 (+0.94 %)
(As of 03/29/2020 01:40 PM ET)
Today's Range
$12.20
Now: $12.89
$13.39
50-Day Range
$9.63
MA: $18.34
$22.25
52-Week Range
$9.19
Now: $12.89
$23.93
Volume129,168 shs
Average Volume187,809 shs
Market Capitalization$285.00 million
P/E Ratio6.41
Dividend Yield6.26%
Beta0.54
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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Independent Bank Co.(MI) logo

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$2.36 per share
Book Value$15.58 per share

Profitability

Net Income$46.44 million

Miscellaneous

Employees830
Market Cap$285.00 million
Next Earnings Date4/27/2020 (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 COVID-19 reached pandemic status according to the World Health Organization (WHO). Since then, IBCP stock has decreased by 19.8% and is now trading at $12.89. View which stocks have been mosted impacted by Coronavirus.

Do Wall Street analysts recommend investors buy shares of Independent Bank Co.(MI)?

3 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 1 buy rating for the stock, resulting in a consensus recommendation of "Hold." 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 Monday, April 27th 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) posted its earnings results on Thursday, January, 23rd. The financial services provider reported $0.61 EPS for the quarter, beating the consensus estimate of $0.57 by $0.04. The financial services provider earned $46.31 million during the quarter, compared to analyst estimates of $44.21 million. Independent Bank Co.(MI) had a return on equity of 13.60% and a net margin of 23.61%. 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 Monday, January 20th. Investors of record on Wednesday, February 5th will be paid 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 6.21%. The ex-dividend date of this dividend is Tuesday, February 4th. This is an increase from Independent Bank Co.(MI)'s previous quarterly dividend of $0.18. View Independent Bank Co.(MI)'s dividend history.

What price target have analysts set for IBCP?

3 brokers have issued twelve-month price objectives for Independent Bank Co.(MI)'s stock. Their forecasts range from $24.00 to $24.00. On average, they anticipate Independent Bank Co.(MI)'s share price to reach $24.00 in the next twelve months. This suggests a possible upside of 86.2% 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?

Press coverage about IBCP stock has trended extremely negative this week, according to InfoTrie Sentiment. InfoTrie identifies negative and positive media coverage by reviewing more than six thousand news and blog sources. The firm ranks coverage of publicly-traded companies on a scale of -5 to 5, with scores closest to five being the most favorable. Independent Bank Co.(MI) earned a media sentiment score of -4.0 on InfoTrie's scale. They also gave news coverage 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 impact on the company's share price in the near future. 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 March. As of March 13th, there was short interest totaling 369,600 shares, an increase of 39.7% from the February 27th total of 264,500 shares. Based on an average daily trading volume, of 146,300 shares, the days-to-cover ratio is presently 2.5 days. Approximately 1.8% of the shares of the stock are short sold. 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), First Busey (BUSE), Occidental Petroleum (OXY), American River Bankshares (AMRB), Eagle Bancorp Montana (EBMT), Primo Water (PRMW) and Virtu Financial (VIRT).

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 many different retail and institutional investors. Top institutional investors include Renaissance Technologies LLC (4.74%), Russell Investments Group Ltd. (4.06%), LSV Asset Management (4.01%), State Street Corp (3.00%), PL Capital Advisors LLC (2.75%) and Nuveen Asset Management LLC (1.64%). Company insiders that own Independent Bank Co.(MI) stock include Christina Keller, David C Reglin, Dennis J Mack, James J Twarozynski, Larry R Daniel, Jr, Matthew J Missad, 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).

Which major 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, THB Asset Management, Panagora Asset Management Inc., Stifel Financial Corp, AJO LP, Foundry Partners LLC, Wedge Capital Management L L P NC, and IndexIQ Advisors LLC. View insider buying and selling activity for Independent Bank Co.(MI).

Which major investors are buying Independent Bank Co.(MI) stock?

IBCP stock was acquired by a variety of institutional investors in the last quarter, including FMR LLC, Bank of Montreal Can, Goldman Sachs Group Inc., Acadian Asset Management LLC, LSV Asset Management, Renaissance Technologies LLC, Bank of New York Mellon Corp, and Thrivent Financial for Lutherans. 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 $12.89.

How big of a company is Independent Bank Co.(MI)?

Independent Bank Co.(MI) has a market capitalization of $285.00 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. View additional information about Independent Bank Co.(MI).

What is Independent Bank Co.(MI)'s official website?

The official website for Independent Bank Co.(MI) is http://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]


MarketBeat Community Rating for Independent Bank Co.(MI) (NASDAQ IBCP)

Community Ranking:  2.1 out of 5 (star star)
Outperform Votes:  203 (Vote Outperform)
Underperform Votes:  290 (Vote Underperform)
Total Votes:  493
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.
This page was last updated on 3/29/2020 by MarketBeat.com Staff

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