Analysts Issue Forecasts for IBCP Q2 Earnings

Independent Bank Co. (NASDAQ:IBCP - Free Report) - Equities researchers at DA Davidson issued their Q2 2025 EPS estimates for Independent Bank in a research report issued on Friday, April 25th. DA Davidson analyst P. Winter forecasts that the financial services provider will post earnings of $0.77 per share for the quarter. DA Davidson has a "Neutral" rating and a $39.00 price target on the stock. The consensus estimate for Independent Bank's current full-year earnings is $3.22 per share. DA Davidson also issued estimates for Independent Bank's FY2025 earnings at $3.15 EPS and FY2026 earnings at $3.48 EPS.

Independent Bank (NASDAQ:IBCP - Get Free Report) last announced its earnings results on Thursday, April 24th. The financial services provider reported $0.74 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.70 by $0.04. Independent Bank had a return on equity of 15.43% and a net margin of 20.67%. The firm had revenue of $54.11 million during the quarter, compared to analysts' expectations of $46.25 million.

Separately, Keefe, Bruyette & Woods decreased their price target on shares of Independent Bank from $37.00 to $35.00 and set a "market perform" rating for the company in a research note on Friday.

Independent Bank Stock Performance

Shares of IBCP opened at $31.04 on Monday. The company's 50 day simple moving average is $31.03 and its 200-day simple moving average is $34.04. The firm has a market cap of $651.00 million, a PE ratio of 9.82 and a beta of 0.85. Independent Bank has a 12-month low of $22.53 and a 12-month high of $40.32. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.18.

Independent Bank Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Monday, May 5th will be issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 3.35%. The ex-dividend date of this dividend is Monday, May 5th. Independent Bank's payout ratio is currently 32.91%.

Institutional Investors Weigh In On Independent Bank

Several large investors have recently modified their holdings of the stock. Versant Capital Management Inc increased its stake in shares of Independent Bank by 408.6% during the first quarter. Versant Capital Management Inc now owns 890 shares of the financial services provider's stock worth $27,000 after acquiring an additional 715 shares during the period. Aquatic Capital Management LLC purchased a new stake in Independent Bank in the 4th quarter valued at approximately $42,000. Tower Research Capital LLC TRC increased its position in Independent Bank by 246.7% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,439 shares of the financial services provider's stock worth $50,000 after purchasing an additional 1,024 shares during the period. Quantbot Technologies LP purchased a new position in shares of Independent Bank during the 4th quarter worth approximately $58,000. Finally, Point72 Asset Management L.P. acquired a new stake in shares of Independent Bank in the 4th quarter valued at approximately $59,000. Hedge funds and other institutional investors own 79.43% of the company's stock.

Independent Bank Company Profile

Independent Bank Corporation operates as the bank holding company for Independent Bank that provides commercial banking services to individuals and businesses in rural and suburban communities in Michigan. It offers checking and savings accounts, commercial lending, direct and indirect consumer financing, mortgage lending, and safe deposit box services.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.