Analysts Set Expectations for IBCP Q1 Earnings

Independent Bank Co. (NASDAQ:IBCP) – Investment analysts at DA Davidson issued their Q1 2025 EPS estimates for Independent Bank in a note issued to investors on Tuesday, January 28th. DA Davidson analyst P. Winter expects that the financial services provider will earn $0.72 per share for the quarter. DA Davidson currently has a “Neutral” rating and a $39.00 target price on the stock. The consensus estimate for Independent Bank’s current full-year earnings is $3.04 per share.

Separately, Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $41.00 target price (up from $39.00) on shares of Independent Bank in a research note on Friday, January 24th.

Independent Bank Price Performance

NASDAQ:IBCP opened at $36.38 on Wednesday. The stock has a 50 day moving average price of $35.93 and a 200 day moving average price of $34.38. The stock has a market cap of $759.98 million, a PE ratio of 12.37 and a beta of 1.03. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.88 and a current ratio of 0.88. Independent Bank has a one year low of $22.53 and a one year high of $40.32.

Independent Bank (NASDAQ:IBCP) last released its quarterly earnings data on Thursday, January 23rd. The financial services provider reported $0.87 EPS for the quarter, beating analysts’ consensus estimates of $0.77 by $0.10. Independent Bank had a net margin of 19.93% and a return on equity of 15.26%.

Independent Bank Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Tuesday, February 4th will be issued a $0.26 dividend. The ex-dividend date is Tuesday, February 4th. This is a boost from Independent Bank’s previous quarterly dividend of $0.24. This represents a $1.04 dividend on an annualized basis and a yield of 2.86%. Independent Bank’s dividend payout ratio is currently 32.65%.

Insider Buying and Selling

In related news, EVP Gavin A. Mohr bought 800 shares of the firm’s stock in a transaction on Wednesday, November 20th. The shares were bought at an average price of $36.71 per share, with a total value of $29,368.00. Following the completion of the transaction, the executive vice president now directly owns 18,662 shares of the company’s stock, valued at $685,082.02. This represents a 4.48 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 5.45% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Independent Bank

Institutional investors and hedge funds have recently made changes to their positions in the stock. National Bank of Canada FI acquired a new stake in Independent Bank in the 3rd quarter valued at approximately $26,000. nVerses Capital LLC purchased a new position in shares of Independent Bank during the third quarter worth $27,000. Dakota Wealth Management acquired a new stake in shares of Independent Bank in the fourth quarter valued at $203,000. CWM LLC raised its holdings in shares of Independent Bank by 47.5% in the 3rd quarter. CWM LLC now owns 6,287 shares of the financial services provider’s stock valued at $210,000 after buying an additional 2,025 shares during the period. Finally, Zacks Investment Management acquired a new position in Independent Bank during the 3rd quarter worth about $221,000. 79.43% of the stock is owned by hedge funds and other institutional investors.

About Independent Bank

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.