Equities Analysts Offer Predictions for IBCP Q1 Earnings

Independent Bank Co. (NASDAQ:IBCP) – Analysts at DA Davidson issued their Q1 2025 earnings per share (EPS) estimates for Independent Bank in a research report issued to clients and investors on Tuesday, January 28th. DA Davidson analyst P. Winter forecasts that the financial services provider will post earnings of $0.72 per share for the quarter. DA Davidson has a “Neutral” rating and a $39.00 price objective 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 set a $41.00 target price (up from $39.00) on shares of Independent Bank in a research report on Friday, January 24th.

Independent Bank Price Performance

NASDAQ IBCP opened at $35.95 on Wednesday. Independent Bank has a 12-month low of $22.53 and a 12-month high of $40.32. The firm’s fifty day simple moving average is $35.95 and its two-hundred day simple moving average is $34.37. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.18. The firm has a market capitalization of $751.14 million, a P/E ratio of 12.23 and a beta of 1.03.

Independent Bank (NASDAQ:IBCP) last posted its quarterly earnings data on Thursday, January 23rd. The financial services provider reported $0.87 EPS for the quarter, topping the consensus estimate 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 company also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Tuesday, February 4th will be paid a $0.26 dividend. This is an increase from Independent Bank’s previous quarterly dividend of $0.24. This represents a $1.04 annualized dividend and a yield of 2.89%. The ex-dividend date of this dividend is Tuesday, February 4th. Independent Bank’s dividend payout ratio is currently 32.91%.

Insider Buying and Selling

In related news, EVP Gavin A. Mohr purchased 800 shares of the company’s stock in a transaction on Wednesday, November 20th. The stock was acquired at an average cost of $36.71 per share, for a total transaction of $29,368.00. Following the completion of the transaction, the executive vice president now directly owns 18,662 shares in the company, valued at approximately $685,082.02. The trade was a 4.48 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at this link. 5.45% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in IBCP. National Bank of Canada FI purchased a new position in Independent Bank during the 3rd quarter valued at about $26,000. nVerses Capital LLC purchased a new stake in shares of Independent Bank during the third quarter worth $27,000. Dakota Wealth Management purchased a new stake in Independent Bank during the 4th quarter worth about $203,000. CWM LLC lifted its stake in Independent Bank by 47.5% in the third quarter. CWM LLC now owns 6,287 shares of the financial services provider’s stock worth $210,000 after acquiring an additional 2,025 shares during the last quarter. Finally, Zacks Investment Management acquired a new position in shares of Independent Bank during the third quarter worth $221,000. 79.43% of the stock is currently owned by institutional investors and hedge funds.

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.