Research Analysts Offer Predictions for IBCP Q1 Earnings

Independent Bank Co. (NASDAQ:IBCP) – Research analysts at DA Davidson issued their Q1 2025 earnings per share estimates for shares of Independent Bank in a research note issued to investors on Tuesday, January 28th. DA Davidson analyst P. Winter anticipates that the financial services provider will earn $0.72 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 $3.04 per share.

Independent Bank (NASDAQ:IBCP) last posted its quarterly earnings results 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 19.93% and a return on equity of 15.26%.

Separately, Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $41.00 price objective (up from $39.00) on shares of Independent Bank in a report on Friday, January 24th.

Independent Bank Stock Up 1.7 %

IBCP stock opened at $36.25 on Wednesday. The company has a 50 day moving average of $35.98 and a two-hundred day moving average of $34.36. The company has a market cap of $757.26 million, a price-to-earnings ratio of 12.33 and a beta of 1.03. Independent Bank has a 12-month low of $22.53 and a 12-month high of $40.32. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.18.

Independent Bank Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Tuesday, February 4th will be given a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 2.87%. This is an increase from Independent Bank’s previous quarterly dividend of $0.24. The ex-dividend date is Tuesday, February 4th. Independent Bank’s payout ratio is currently 32.65%.

Insider Transactions at Independent Bank

In related news, EVP Gavin A. Mohr purchased 800 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The stock was bought at an average price of $36.71 per share, for a total transaction of $29,368.00. Following the purchase, the executive vice president now owns 18,662 shares in the company, valued at $685,082.02. The trade was a 4.48 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 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 added to or reduced their stakes in the stock. Dimensional Fund Advisors LP grew its holdings in Independent Bank by 1.0% during the second quarter. Dimensional Fund Advisors LP now owns 985,364 shares of the financial services provider’s stock valued at $26,603,000 after purchasing an additional 10,193 shares during the last quarter. Sei Investments Co. boosted its holdings in shares of Independent Bank by 21.4% during the 2nd quarter. Sei Investments Co. now owns 16,624 shares of the financial services provider’s stock worth $449,000 after buying an additional 2,928 shares during the period. AQR Capital Management LLC grew its stake in Independent Bank by 75.8% in the 2nd quarter. AQR Capital Management LLC now owns 174,011 shares of the financial services provider’s stock valued at $4,698,000 after buying an additional 75,022 shares during the last quarter. Creative Planning lifted its position in Independent Bank by 5.4% during the 2nd quarter. Creative Planning now owns 43,174 shares of the financial services provider’s stock worth $1,166,000 after acquiring an additional 2,209 shares during the last quarter. Finally, Truist Financial Corp lifted its position in Independent Bank by 8.4% during the 2nd quarter. Truist Financial Corp now owns 14,181 shares of the financial services provider’s stock worth $383,000 after acquiring an additional 1,100 shares during the last quarter. 79.43% of the stock is currently owned by institutional investors and hedge funds.

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.