Independent Bank (IBCP) Stock Price, News & Analysis

Company Overview

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. The company also provides title insurance services and investment services, as well as automatic teller machines, and internet and mobile banking services. In addition, it operates through branches, drive-thru facilities, and loan production offices. Independent Bank Corporation was founded in 1864 and is based in Grand Rapids, Michigan.

Key Stats

• Today's Range: $31.52 to $31.98
• 50-Day Range: $30.18 to $37.06
• 52-Week Range: $22.53 to $40.32
• Volume: 170,487 shs
• Average Volume: 96,454 shs
• Market Capitalization: $667.15 million
• P/E Ratio: 10.07
• Dividend Yield: 3.27%
• Price Target: $39.17
• Consensus Rating: Hold

Independent Bank Stock Analysis - MarketRank™

Independent Bank scored higher than 65% of companies evaluated by MarketBeat, and ranked 304th out of 939 stocks in the finance sector. Scores are calculated by averaging available category scores, with extra weight given to analysis and valuation.

Analyst's Opinion

• Score: 2.0 / 5
• Analyst Rating: Hold

Consensus Rating

Independent Bank has received a consensus rating of Hold. The company's average rating score is 2.00, and is based on no buy ratings, 3 hold ratings, and no sell ratings.

Amount of Analyst Coverage

Independent Bank has only been the subject of 2 research reports in the past 90 days.

Earnings and Valuation

• Score: 1.9 / 5
• Proj. Earnings Growth: 1.86%

Earnings Growth

Earnings for Independent Bank are expected to grow by 1.86% in the coming year, from $3.22 to $3.28 per share.

Price to Earnings Ratio vs. the Market

The P/E ratio of Independent Bank is 10.07, which means that it is trading at a less expensive P/E ratio than the market average P/E ratio of about 23.53.

Price to Earnings Ratio vs. Sector

The P/E ratio of Independent Bank is 10.07, which means that it is trading at a less expensive P/E ratio than the Finance sector average P/E ratio of about 22.96.

Price to Book Value per Share Ratio

Independent Bank has a P/B Ratio of 1.64. P/B Ratios below 3 indicates that a company is reasonably valued with respect to its assets and liabilities.

Short Interest

• Score: 3.0 / 5
• Short Interest Level: Healthy

Percentage of Shares Shorted

0.94% of the float of Independent Bank has been sold short.

Short Interest Ratio / Days to Cover

Independent Bank has a short interest ratio ("days to cover") of 1.7, which is generally considered an acceptable ratio of short interest to trading volume.

Change versus previous month

Short interest in Independent Bank has recently increased by 36.05%, indicating that investor sentiment is decreasing significantly.

Dividend

• Score: 4.2 / 5
• Dividend Strength: Strong

Dividend Yield

Independent Bank pays a meaningful dividend of 3.35%, higher than the bottom 25% of all stocks that pay dividends.

Dividend Growth

Independent Bank has been increasing its dividend for 11 years.

Dividend Coverage

The dividend payout ratio of Independent Bank is 32.91%. This payout ratio is at a healthy, sustainable level, below 75%.

Dividend Sustainability

Based on earnings estimates, Independent Bank will have a dividend payout ratio of 31.71% next year. This indicates that Independent Bank will be able to sustain or increase its dividend.

Sustainability and ESG

• Score: N/A
• Environmental Score: N/A

Percentage of Shares Shorted

0.94% of the float of Independent Bank has been sold short.

Short Interest Ratio / Days to Cover

Independent Bank has a short interest ratio ("days to cover") of 1.7, which is generally considered an acceptable ratio of short interest to trading volume.

Change versus previous month

Short interest in Independent Bank has recently increased by 36.05%, indicating that investor sentiment is decreasing significantly.

News and Social Media

• Score: 2.7 / 5
• News Sentiment: 1.77

News Sentiment

Independent Bank has a news sentiment score of 1.77. This score is calculated as an average of sentiment of articles about the company over the last seven days and ranges from 2 (good news) to -2 (bad news). This is a higher news sentiment than the 0.97 average news sentiment score of Finance companies.

News Coverage This Week

MarketBeat has tracked 2 news articles for Independent Bank this week, compared to 2 articles on an average week.

Company Ownership

• Score: 1.7 / 5
• Insider Trading: N/A

Insider Buying vs. Insider Selling

In the past three months, Independent Bank insiders have not sold or bought any company stock.

Percentage Held by Insiders

Only 5.68% of the stock of Independent Bank is held by insiders.

Percentage Held by Institutions

79.43% of the stock of Independent Bank is held by institutions. High institutional ownership can be a signal of strong market trust in this company.

IBCP Stock Analysis - Frequently Asked Questions

How have IBCP shares performed this year?

Independent Bank's stock was trading at $34.83 at the start of the year. Since then, IBCP shares have decreased by 8.7% and is now trading at $31.81.
View the best growth stocks for 2025 here.

How were Independent Bank's earnings last quarter?

Independent Bank Co. (NASDAQ:IBCP) issued its quarterly earnings data on Thursday, January, 23rd. The financial services provider reported $0.87 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.77 by $0.10. Independent Bank had a net margin of 20.67% and a trailing twelve-month return on equity of 15.43%.

Who are Independent Bank's major shareholders?

Independent Bank's top institutional investors include PL Capital Advisors LLC (53.18%), Vanguard Group Inc. (5.83%), Dimensional Fund Advisors LP (4.53%) and FJ Capital Management LLC (3.21%). Insiders that own company stock include Stefanie M Kimball, Terance L Beia, Patrick J Ervin, Gavin A Mohr, Dennis W Archer Jr, James J Twarozynski and Christina Keller.
View institutional ownership trends.

How do I buy shares of Independent Bank?

Shares of IBCP stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include Charles Schwab, E*TRADE, Fidelity, and Vanguard Brokerage Services.

What other stocks do shareholders of Independent Bank own?

Based on aggregate information from My MarketBeat watchlists, some other companies that Independent Bank investors own include NVIDIA (NVDA), Broadcom (AVGO), Meta Platforms (META), Arista Networks (ANET), Jabil (JBL), Adobe (ADBE) and e.l.f. Beauty (ELF).

Company Calendar

• Last Earnings: 1/23/2025
• Ex-Dividend for 2/14 Dividend: 2/04/2025
• Dividend Payable: 2/14/2025
• Today: 3/24/2025
• Next Earnings (Estimated): 4/24/2025
• Fiscal Year End: 12/31/2025

Industry, Sector and Symbol

• Stock Exchange: NASDAQ
• Sector: Finance
• Industry: State commercial banks
• Sub-Industry: Banking
• Current Symbol: NASDAQ:IBCP
• CIK: 39311
• Web: www.independentbank.com
• Phone: (616) 527-5820
• Fax: 616-527-4004
• Employees: 920
• Year Founded: N/A

Price Target and Rating

• Average Stock Price Target: $39.17
• High Stock Price Target: $41.00
• Low Stock Price Target: $37.50
• Potential Upside/Downside: +23.8%
• Consensus Rating: Hold
• Rating Score (0-4): 2.00
• Research Coverage: 3 Analysts

Profitability

• EPS (Most Recent Fiscal Year): $3.16
• Trailing P/E Ratio: 10.00
• Forward P/E Ratio: 9.82
• P/E Growth: N/A
• Net Income: $66.79 million
• Net Margins: 20.67%
• Pretax Margin: 25.11%
• Return on Equity: 15.43%
• Return on Assets: 1.27%

Debt

• Debt-to-Equity Ratio: 0.18
• Current Ratio: 0.88
• Quick Ratio: 0.88

Sales & Book Value

• Annual Sales: $215.80 million
• Price / Sales: 3.07
• Cash Flow: $3.16 per share
• Price / Cash Flow: 10.00
• Book Value: $19.41 per share
• Price / Book: 1.63

Miscellaneous

• Outstanding Shares: 20,973,000
• Free Float: 19,755,000
• Market Cap: $663.38 million
• Optionable: Optionable
• Beta: 1.04