NASDAQ:IBCPIndependent Bank Co.(MI) Stock Price, Forecast & News Adding Choose a watchlist: Adding You have already added five stocks to your watchlist. Upgrade to MarketBeat Daily Premium to add more stocks to your watchlist. Adding Independent Bank Co.(MI) Please log in to your account or sign up in order to add this asset to your watchlist. Log In and Add $14.84 +0.59 (+4.14 %) (As of 08/7/2020 02:14 PM ET) Add Compare Share Today's Range$14.11Now: $14.84▼$14.8550-Day Range$12.91MA: $13.81▼$14.8952-Week Range$9.19Now: $14.84▼$23.93Volume2,811 shsAverage Volume119,640 shsMarket Capitalization$324.85 millionP/E Ratio7.27Dividend Yield5.76%Beta0.89 ProfileAnalyst RatingsAdvanced ChartCompetitorsDividendEarningsFinancialsInsider TradesInstitutional OwnershipHeadlinesOptions ChainSEC FilingsSocial Media 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.Read More Beat the Market (BTM) Rank™ 3.3 Analyst's Opinion Consensus RatingIndependent Bank Co.(MI) 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/DownsideAccording to analysts' consensus price target of $24.00, Independent Bank Co.(MI) has a potential upside of 62.9% from its current price of $14.73.Amount of Analyst CoverageIndependent Bank Co.(MI) has only been the subject of 1 research reports in the past 90 days. Previous Next 2.0 Community Rank Outperform VotesIndependent Bank Co.(MI) has received 207 “outperform” votes. (Add your “outperform” vote.)Underperform VotesIndependent Bank Co.(MI) has received 303 “underperform” votes. (Add your “underperform” vote.)Community SentimentIndependent Bank Co.(MI) has received 59.41% “underperform” votes from our community.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. Previous Next 3.3 Dividend Strength Dividend LeadershipIndependent Bank Co.(MI) is a leading dividend payer. It pays a dividend yield of 5.76%, putting its dividend yield in the top 25% of dividend-paying stocks.Dividend GrowthIndependent Bank Co.(MI) has only been increasing its dividend for 1 years.Dividend CoverageThe dividend payout ratio of Independent Bank Co.(MI) is 40.00%. This payout ratio is at a healthy, sustainable level, below 75%.Dividend SustainabilityBased on earnings estimates, Independent Bank Co.(MI) will have a dividend payout ratio of 54.05% next year. This indicates that Independent Bank Co.(MI) will be able to sustain or increase its dividend. Previous Next 1.0 Company Ownership Insider Buying vs. Insider SellingIn the past three months, Independent Bank Co.(MI) insiders have sold 57.28% more of their company's stock than they have bought. Specifically, they have bought $30,369.00 in company stock and sold $47,763.00 in company stock.Percentage Held by InsidersOnly 4.44% of the stock of Independent Bank Co.(MI) is held by insiders.Percentage Held by Institutions81.31% of the stock of Independent Bank Co.(MI) is held by institutions. High institutional ownership can be a signal of strong market trust in this company. Previous Next 1.9 Earnings and Valuation Earnings GrowthEarnings for Independent Bank Co.(MI) are expected to decrease by -22.51% in the coming year, from $1.91 to $1.48 per share.Price to Earnings Ratio vs. the MarketThe P/E ratio of Independent Bank Co.(MI) is 7.22, which means that it is trading at a less expensive P/E ratio than the market average P/E ratio of about 17.94.Price to Earnings Ratio vs. SectorThe P/E ratio of Independent Bank Co.(MI) is 7.22, which means that it is trading at a less expensive P/E ratio than the Finance sector average P/E ratio of about 19.33.Price to Book Value per Share RatioIndependent Bank Co.(MI) has a P/B Ratio of 0.95. P/B Ratios below 1 indicate that a company could be undervalued with respect to its assets and liabilities. Previous Next Analyst Opinion: 3.3Community Rank: 2.0Dividend Strength: 3.3Insider Behavior: 1.0Valuation: 1.9 5 -4 -3 -2 -1 -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 Phone616-527-5820Debt Debt-to-Equity Ratio0.42 Current Ratio0.91 Quick Ratio0.89Price-To-Earnings Trailing P/E Ratio7.27 Forward P/E Ratio7.77 P/E GrowthN/A Sales & Book Value Annual Sales$196.66 million Price / Sales1.65 Cash Flow$2.49 per share Price / Cash Flow5.95 Book Value$15.58 per share Price / Book0.95Profitability EPS (Most Recent Fiscal Year)$2.00 Net Income$46.44 million Net Margins22.58% Return on Equity13.42% Return on Assets1.28%Miscellaneous Employees830 Outstanding Shares21,890,000Market Cap$324.85 million Next Earnings Date10/22/2020 (Estimated) OptionableOptionable $14.84 +0.59 (+4.14 %) (As of 08/7/2020 02:14 PM 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 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. Since then, IBCP stock has decreased by 7.7% and is now trading at $14.84. 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, October 22nd 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) announced its earnings results on Tuesday, July, 28th. The financial services provider reported $0.67 earnings per share (EPS) for the quarter, beating the Thomson Reuters' consensus estimate of $0.25 by $0.42. The financial services provider earned $50.83 million during the quarter, compared to analysts' expectations of $46.45 million. Independent Bank Co.(MI) had a net margin of 22.58% and a return on equity of 13.42%. 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 Wednesday, July 22nd. Shareholders of record on Tuesday, August 4th will be given a dividend of $0.20 per share on Friday, August 14th. This represents a $0.80 dividend on an annualized basis and a yield of 5.39%. The ex-dividend date of this dividend is Monday, August 3rd. View Independent Bank Co.(MI)'s dividend history. What price target have analysts set for IBCP? 5 brokers have issued 1-year target prices 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 share price to reach $24.00 in the next twelve months. This suggests a possible upside of 61.7% 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? Headlines about IBCP stock have been trending positive on Friday, according to InfoTrie Sentiment. InfoTrie identifies positive and negative press coverage by analyzing more than six thousand blog and news sources. 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 coverage optimism score of 2.1 on InfoTrie's scale. They also gave media stories about the financial services provider a news buzz of 0.0 out of 10, indicating that recent press coverage is extremely unlikely to have an effect on the company's share price in the next few days. View the latest news about Independent Bank Co.(MI). Are investors shorting Independent Bank Co.(MI)? Independent Bank Co.(MI) saw a decrease in short interest in the month of July. As of July 31st, there was short interest totaling 424,000 shares, a decrease of 5.5% from the July 15th total of 448,600 shares. Based on an average daily volume of 118,500 shares, the days-to-cover ratio is presently 3.6 days. Currently, 2.0% 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? Some companies that are related to Independent Bank Co.(MI) include Heartland Financial USA (HTLF), Lakeland Financial (LKFN), Seacoast Banking Co. of Florida (SBCF), Eagle Bancorp (EGBN), Southside Bancshares (SBSI), First Busey (BUSE), Stock Yards Bancorp (SYBT), Veritex (VBTX), TriCo Bancshares (TCBK), 1st Source (SRCE), Oritani Financial (ORIT), FB Financial (FBK), S & T Bancorp (STBA), Enterprise Financial Services (EFSC) and German American Bancorp. (GABC). View all 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 institutional and retail investors. Top institutional shareholders include Russell Investments Group Ltd. (3.97%), LSV Asset Management (3.97%), Foundry Partners LLC (1.02%), Principal Financial Group Inc. (0.95%), Assenagon Asset Management S.A. (0.31%) and Ziegler Capital Management LLC (0.26%). Company insiders that own Independent Bank Co.(MI) 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 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 LSV Asset Management, Russell Investments Group Ltd., Ziegler Capital Management LLC, Seizert Capital Partners LLC, Creative Planning, UBS Group AG, and Alps Advisors Inc.. Company insiders that have sold Independent Bank Co.(MI) company stock in the last year include Robert N Shuster, and Stefanie M Kimball. View insider buying and selling activity for Independent Bank Co.(MI). Which institutional investors are buying Independent Bank Co.(MI) stock? IBCP stock was bought by a variety of institutional investors in the last quarter, including Assenagon Asset Management S.A., Regal Investment Advisors LLC, Mackay Shields LLC, Principal Financial Group Inc., Swiss National Bank, and Foundry Partners LLC. 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 $14.84. How big of a company is Independent Bank Co.(MI)? Independent Bank Co.(MI) has a market capitalization of $324.85 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 8/7/2020 by MarketBeat.com Staff 30 Days of MarketBeat All Access for $1.00 Sign up for MarketBeat All Access to gain access to MarketBeat's full suite of research tools: 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. 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