IBCP - Independent Bank Corp-MI Stock Price, Fair Value and News

25.51USD+0.21 (+0.83%)Delayed as of 08 May 2024, 01:42 pm ET

Market Summary

USD25.51+0.21

Delayedas of 08 May 2024, 01:42 pm

0.83%

IBCP Stock Price

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IBCP RSI Chart

IBCP Valuation

Market Cap

528.8M

Price/Earnings (Trailing)

8.52

Price/Sales (Trailing)

2.11

EV/EBITDA

1.49

Price/Free Cashflow

7.84

IBCP Price/Sales (Trailing)

IBCP Profitability

EBT Margin

30.94%

Return on Equity

14.94%

Return on Assets

1.19%

Free Cashflow Yield

12.76%

IBCP Fundamentals

IBCP Revenue

Revenue (TTM)

250.9M

Rev. Growth (Yr)

20.75%

Rev. Growth (Qtr)

-0.36%

IBCP Earnings

Earnings (TTM)

62.1M

Earnings Growth (Yr)

23.09%

Earnings Growth (Qtr)

16.36%

Breaking Down IBCP Revenue

52 Week Range

15.1925.51

(Low)(High)

Last 7 days

2.0%

Last 30 days

3.7%

Last 90 days

3.8%

Trailing 12 Months

57.8%

How does IBCP drawdown profile look like?

IBCP Financial Health

IBCP Investor Care

Dividend Yield

3.68%

Dividend/Share (TTM)

0.93

Buy Backs (1Y)

1.13%

Diluted EPS (TTM)

2.94

Historical Charts for Stock Metrics

Get all data in R, Python etc through our Historical Stock Data APIs

Net sales

Year	Q1	Q2	Q3	Q4
2024	250.9M	0	0	0
2023	188.2M	207.8M	225.3M	239.7M
2022	140.3M	145.2M	154.3M	169.0M
2021	136.8M	136.5M	137.3M	138.1M
2020	147.9M	144.1M	141.3M	139.8M
2019	140.6M	145.1M	148.4M	148.9M
2018	101.7M	111.3M	120.4M	130.8M
2017	88.5M	90.8M	94.4M	98.3M
2016	82.6M	83.8M	85.2M	86.5M
2015	79.8M	79.6M	79.8M	80.8M
2014	85.5M	83.9M	82.2M	80.6M
2013	96.3M	93.3M	90.2M	87.1M
2012	109.7M	105.9M	0	99.4M
2011	138.3M	129.0M	121.5M	114.8M
2010	0	175.7M	162.3M	148.9M
2009	0	0	0	189.1M

Get all data in R, Python etc through our Historical Stock Data APIs

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Tracking the Latest Insider Buys and Sells of Independent Bank Corp-MI

Filter Transactions

Datesorted ascending	Name	Buy/Sell	$ Value	Avg. Price	# Shares	Title
Apr 29, 2024	twarozynski james j	sold	-37,500	25.00	-1,500	senior vice president
Apr 01, 2024	boer william j	acquired	9,278	25.35	366	-
Feb 06, 2024	daniel larry r jr	acquired	-	-	2,384	executive vice president
Feb 06, 2024	kessel william b	acquired	-	-	6,511	president & ceo
Feb 06, 2024	twarozynski james j	acquired	-	-	1,367	senior vice president
Feb 06, 2024	kreter kristopher	acquired	-	-	260	first vice pres. & controller
Feb 06, 2024	mohr gavin a.	acquired	-	-	2,517	executive vice president
Feb 06, 2024	rahn joel f	acquired	-	-	2,417	executive vice president
Feb 06, 2024	kimball stefanie m	acquired	-	-	2,509	executive vice president
Feb 06, 2024	ervin patrick j	acquired	-	-	2,484	executive vice president

Which funds bought or sold IBCP recently?

View All Details

Datesorted ascending	Fund Name	Type	% Chg	$ Change	$ Held	% Portfolio
May 06, 2024	Parallel Advisors, LLC	added	-	3,346	3,346	-%
May 06, 2024	SG Americas Securities, LLC	sold off	-100	-397,000	-	-%
May 06, 2024	Empowered Funds, LLC	added	8.15	107,338	2,108,590	0.04%
May 06, 2024	TEACHER RETIREMENT SYSTEM OF TEXAS	added	63.52	241,000	646,000	-%
May 06, 2024	HighTower Advisors, LLC	added	18.77	89,000	665,000	-%
May 06, 2024	LSV ASSET MANAGEMENT	reduced	-2.14	-651,000	13,318,000	0.03%
May 03, 2024	GSA CAPITAL PARTNERS LLP	sold off	-100	-919,000	-	-%
May 03, 2024	HUNTINGTON NATIONAL BANK	added	1.99	-143	22,130	-%
May 03, 2024	Rehmann Capital Advisory Group	unchanged	-	-9,368	354,441	0.03%
May 03, 2024	HUNTINGTON NATIONAL BANK	unchanged	-	-	-	-%

Are Funds Buying or Selling IBCP?

Are funds buying IBCP calls or puts?

Calls

Puts

No. of funds holding Calls - Puts

Net Call Options

No. of funds that own IBCP

No. of Funds

Unveiling Independent Bank Corp-MI's Major ShareHolders

Date Filed	Name of Filer	Percent of Class	No. of Shares	Form Type
Feb 13, 2024	vanguard group inc	5.12%	1,067,691	SC 13G
Feb 08, 2024	fj capital management llc	6.18%	1,288,658	SC 13G/A
Jan 23, 2024	blackrock inc.	14.0%	2,924,250	SC 13G/A
Feb 08, 2023	fj capital management llc	6.32%	1,330,661	SC 13G/A
Jan 26, 2023	blackrock inc.	14.5%	3,046,749	SC 13G/A
Jan 20, 2023	blackrock inc.	14.5%	3,046,749	SC 13G/A
Feb 11, 2022	fj capital management llc	7.05%	1,499,777	SC 13G/A
Feb 10, 2022	vanguard group inc	4.89%	1,040,136	SC 13G/A
Jan 27, 2022	blackrock inc.	12.1%	2,574,495	SC 13G/A
Jan 25, 2022	blackrock inc.	12.1%	2,574,495	SC 13G/A

Recent SEC filings of Independent Bank Corp-MI

View All Filings

Date Filed	Form Type	Document
May 03, 2024	10-Q	Quarterly Report
Apr 29, 2024	4	Insider Trading
Apr 25, 2024	8-K	Current Report
Apr 24, 2024	8-K	Current Report
Apr 23, 2024	8-K	Current Report
Apr 02, 2024	4	Insider Trading
Apr 02, 2024	4	Insider Trading
Apr 02, 2024	4	Insider Trading
Apr 02, 2024	4	Insider Trading
Apr 02, 2024	4	Insider Trading

Peers (Alternatives to Independent Bank Corp-MI)

Name	Mkt Capsorted ascending	Revenue	Price %, 1M	Returns, 1Y	P/E	P/S	Rev 1-Yr	Inc 1-Yr
LARGE-CAP
JPM	550.7B	174.7B	-2.88%	39.91%	10.94	3.15	53.11%	19.83%
BAC	296.0B	127.4B	1.99%	36.69%	11.83	2.15	56.12%	-12.56%
WFC	210.0B	85.8B	4.95%	56.96%	11.19	2.45	35.02%	26.14%
C	118.3B	125.0B	0.65%	33.74%	14.8	0.95	37.85%	-
CFG	16.2B	10.4B	4.71%	38.12%	11.31	1.55	26.22%	-33.87%
KEY	14.1B	8.1B	-0.80%	54.34%	16.12	1.73	32.15%	-50.93%
MID-CAP
CMA	7.1B	4.2B	1.12%	47.25%	10.15	1.66	34.68%	-45.96%
ZION	6.5B	3.9B	4.13%	80.63%	9.55	1.64	45.91%	-25.03%
ABCB	3.4B	1.3B	5.29%	67.41%	12.7	2.67	43.24%	-22.35%
ASB	3.3B	1.8B	5.37%	45.89%	20.77	1.64	47.11%	-59.32%
SMALL-CAP
AMNB	497.6M	120.2M	6.68%	49.76%	19.02	4.14	45.65%	-13.98%
ALRS	399.1M	152.4M	-3.36%	49.04%	40.14	2.62	16.94%	-73.84%
AROW	389.7M	162.6M	0.47%	17.60%	12.96	2.4	25.39%	-38.37%
ACNB	273.7M	96.6M	-5.55%	16.05%	8.64	2.83	11.02%	-11.37%
ASRV	40.3M	60.9M	-4.84%	-16.90%	-12.04	0.66	24.06%	-144.92%

Independent Bank Corp-MI News

Latest updates

Independent Bank Corp-MI Earnings Report: Key Takeaways & Analysis

Income Statement (Last 12 Months)

(In Millions)

(*) denotes actual numbers (not divided by Millions)
Income Statement (Quarterly)																					(In Millions)
Description	(%) Q/Q	2024Q1	2023Q4	2023Q3	2023Q2	2023Q1	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4	2021Q3	2021Q2	2021Q1	2020Q4	2020Q3	2020Q2	2020Q1	2019Q4	2019Q3	2019Q2	2019Q1
Revenue	-0.4%	65.00	65.00	62.00	58.00	54.00	51.00	45.00	38.00	35.00	36.00	36.00	33.00	33.00	35.00	35.00	34.00	36.00	37.00	38.00	38.00	37.00
EBITDA Margin	-2.2%	0.98*	1.00*	1.07*	1.16*	1.26*	1.41*	1.49*	1.53*	1.54*	1.59*	1.62*	1.64*	-	-	-	-	-	-	-	-	-
Interest Expenses	0.2%	40.00	40.00	39.00	38.00	38.00	41.00	40.00	36.00	33.00	34.00	34.00	31.00	30.00	31.00	32.00	30.00	30.00	31.00	31.00	31.00	30.00
Income Taxes	-9.6%	4.00	4.00	4.00	3.00	3.00	3.00	4.00	3.00	4.00	3.00	4.00	3.00	5.00	4.00	5.00	4.00	1.00	3.00	3.00	3.00	2.00
Earnings Before Taxes	10.4%	20.00	18.00	22.00	18.00	16.00	19.00	21.00	16.00	22.00	15.00	20.00	15.00	27.00	21.00	24.00	18.00	6.00	17.00	16.00	13.00	12.00
EBT Margin	0.7%	0.31*	0.31*	0.33*	0.36*	0.38*	0.46*	0.48*	0.50*	0.51*	0.56*	0.60*	0.64*	-	-	-	-	-	-	-	-	-
Net Income	16.4%	16.00	14.00	18.00	15.00	13.00	15.00	17.00	13.00	18.00	13.00	16.00	12.00	22.00	17.00	20.00	15.00	5.00	14.00	12.00	11.00	9.00
Net Income Margin	0.4%	0.25*	0.25*	0.27*	0.29*	0.31*	0.37*	0.39*	0.41*	0.42*	0.46*	0.49*	0.52*	-	-	-	-	-	-	-	-	-
Free Cashflow	31.8%	20.00	15.00	24.00	8.00	22.00	-0.88	32.00	22.00	36.00	53.00	-12.14	30.00	-	-	-	-	-	-	-	-	-

Balance Sheet

(In Millions)

(*) denotes actual numbers (not divided by Millions)
Balance Sheet																					(In Millions)
Description	(%) Q/Q	2024Q1	2023Q4	2023Q3	2023Q2	2023Q1	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4	2021Q3	2021Q2	2021Q1	2020Q4	2020Q3	2020Q2	2020Q1	2019Q4	2019Q3	2019Q2	2019Q1
Assets	-0.6%	5,231	5,264	5,200	5,136	5,139	5,000	4,931	4,826	4,762	4,705	4,622	4,461	4,426	4,204	4,169	4,043	3,632	3,565	3,551	3,438	3,384
Cash Equivalents	-4.7%	162	170	127	129	227	74.00	71.00	59.00	110	109	126	69.00	131	119	47.00	56.00	70.00	65.00	82.00	55.00	72.00
Net PPE	-2.6%	35.00	36.00	35.00	36.00	36.00	36.00	36.00	36.00	37.00	36.00	37.00	37.00	37.00	36.00	37.00	37.00	38.00	38.00	37.00	38.00	38.00
Goodwill	0%	28.00	28.00	28.00	28.00	28.00	28.00	28.00	28.00	28.00	28.00	28.00	28.00	28.00	28.00	28.00	28.00	28.00	28.00	28.00	28.00	28.00
Liabilities	-0.9%	4,816	4,859	4,825	4,760	4,771	4,652	4,599	4,495	4,407	4,306	4,222	4,065	4,039	3,814	3,796	3,688	3,297	3,215	3,211	3,107	3,039
Shareholder's Equity	2.7%	416	404	375	375	368	348	332	331	355	398	400	396	387	390	373	355	336	350	340	331	345
Retained Earnings	6.9%	170	159	150	137	127	119	109	96.00	88.00	75.00	67.00	55.00	47.00	40.00	28.00	12.00	2.00	2.00	-8.22	-16.62	-23.13
Shares Outstanding	0.3%	21.00	21.00	21.00	21.00	21.00	21.00	21.00	21.00	21.00	21.00	21.00	22.00	-	-	-	-	-	-	-	-	-
Float	-	-	-	-	347	-	-	-	397	-	-	-	461	-	-	-	319	-	-	-	480	-

Cashflow (Last 12 Months)

(In Thousands)

(*) denotes actual numbers (not divided by Thousands)
Cashflow (Quarterly)																					(In Thousands)
Description	(%) Q/Q	2024Q1	2023Q4	2023Q3	2023Q2	2023Q1	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4	2021Q3	2021Q2	2021Q1	2020Q4	2020Q3	2020Q2	2020Q1	2019Q4	2019Q3	2019Q2	2019Q1
Cashflow From Operations	24.0%	20,833	16,801	25,440	9,789	23,559	827	32,680	22,554	38,571	54,242	-10,686	31,533	35,065	20,446	-5,715	21,671	22,282	28,432	-7,877	3,806	10,131
Share Based Compensation	5.7%	591	559	624	477	569	554	535	543	511	501	499	505	442	474	497	462	547	506	460	468	420
Cashflow From Investing	362.2%	17,691	-6,747	-78,609	-82,369	4,780	-43,794	-114,572	-146,196	-120,030	-167,455	-71,465	-88,350	-235,794	16,994	-91,665	-420,649	-58,588	-50,559	-56,511	-52,893	-22,191
Cashflow From Financing	-244.0%	-46,461	32,266	51,438	-25,247	124,309	46,706	93,038	73,307	81,807	97,065	138,518	-4,436	212,531	34,709	88,120	384,503	41,293	5,014	91,668	32,601	13,439
Dividend Payments	4.3%	4,999	4,792	4,817	4,858	4,860	4,634	4,633	4,631	4,667	4,469	4,520	4,574	4,592	4,379	4,384	4,378	4,477	4,047	4,049	4,212	4,246
Buy Backs	-100.0%	-	194	1,693	3,270	-	-	-	2,626	1,384	3,496	6,488	3,684	3,601	447	-	-	13,784	-	502	23,252	2,530

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IBCP Income Statement

2024-03-31

Condensed Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Interest Income
Interest and fees on loans	$ 55,043	$ 44,294
Interest on securities
Taxable	5,251	5,884
Tax-exempt	3,391	3,083
Other investments	1,441	675
Total Interest Income	65,126	53,936
Interest Expense
Deposits	22,810	13,760
Other borrowings and subordinated debt and debentures	2,119	1,735
Total Interest Expense	24,929	15,495
Net Interest Income	40,197	38,441
Provision for credit losses	744	2,160
Net Interest Income After Provision for Credit Losses	39,453	36,281
Non-interest Income
Interchange income	3,151	3,205
Service charges on deposit accounts	2,872	2,857
Net gains (losses) on assets
Mortgage loans	1,364	1,256
Securities available for sale	(269)	(222)
Mortgage loan servicing, net	2,725	726
Other	2,718	2,729
Total Non-interest Income	12,561	10,551
Non-interest Expense
Compensation and employee benefits	20,770	19,339
Data processing	3,255	2,991
Occupancy, net	2,074	2,159
Interchange expense	1,097	1,049
Furniture, fixtures and equipment	954	926
FDIC deposit insurance	782	783
Communications	615	668
Loan and collection	512	578
Advertising	491	495
Legal and professional	486	607
Costs (recoveries) related to unfunded lending commitments	(652)	(475)
Other	1,809	1,837
Total Non-interest Expense	32,193	30,957
Income Before Income Tax	19,821	15,875
Income tax expense	3,830	2,884
Net Income	$ 15,991	$ 12,991
Net Income Per Common Share
Basic (in dollars per share)	$ 0.77	$ 0.62
Diluted (in dollars per share)	$ 0.76	$ 0.61

About Independent Bank Corp-MI

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 across Lower 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. Independent Bank Corporation was founded in 1864 and is based in Grand Rapids, Michigan.

CEO	Mr. William Bradford Kessel CPA, CPA
WEBSITE	independentbank.com
INDUSTRY	Banks Diversified
EMPLOYEES	803

Independent Bank Corp-MI Frequently Asked Questions

What is the ticker symbol for Independent Bank Corp-MI? What does IBCP stand for in stocks?

IBCP is the stock ticker symbol of Independent Bank Corp-MI. Every public company that trades on a stock exchange gets a ticker symbol.

What is the market capital of Independent Bank Corp-MI (IBCP)?

As of Tue May 07 2024, market cap of Independent Bank Corp-MI is 528.83 Million. The market capitalization is calculated by multiplying the stock price with the number of shares outstanding.

What is the fair value of IBCP stock?

You can check IBCP's fair value in chart for subscribers.

What is the fair value of IBCP stock?

You can check IBCP's fair value in chart for subscribers. The fair value of Independent Bank Corp-MI is provided for various growth and macro-economic scenarios from very pessimiatic to very optimistic assumptions. These fair values are estimates from Grufity's Fair Value model based on company's past performance. However, past performance of Independent Bank Corp-MI is no guarantee of future performance. These fairvalue estimates should only be used as one of the inputs in your stock analysis. We provide model's historical fair value estimates for IBCP so that you know how good or bad the model has been in the past so you can discard it if needed. There are others that provide fair values of stocks such as wallmine, finbox, gurufocus and finviz. Most provide point in time estimates. We provide a history of our models fair value estimates so that you can get a sense of it's usefulness. Otherwise this data point is of little use.

Is Independent Bank Corp-MI a good stock to buy?

The fair value guage provides a quick view whether IBCP is over valued or under valued. Whether Independent Bank Corp-MI is cheap or expensive depends on the assumptions which impact Independent Bank Corp-MI's fair value. We provide several scenarios of inflation and growth to encompass these range of assumptions for IBCP.

What is Independent Bank Corp-MI's Price to Earnings (PE) and Price to sales (PS) ratio?

As of Tue May 07 2024, IBCP's PE ratio (Price to Earnings) is 8.52 and Price to Sales (PS) ratio is 2.11. The price to earnings and price to sales ratio are two most important valuation metrics for any company. PE ratio tell us the number of years of earnings investors are ready to pay for owning the company. Historically, S&P500 price to earnings ratio has fallen below 12 during periods of gloom and gone past 30 during periods of euphoria. IBCP PE ratio will change depending on the future growth rate expectations of investors.

What is 5 year return on Independent Bank Corp-MI's stock?

In the past 10 years, Independent Bank Corp-MI has provided 0.099 (multiply by 100 for percentage) rate of return.