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

25.00USD-0.17 (-0.68%)Market Closed

Market Summary

USD25.00-0.17

Market Closed

-0.68%

IBCP Stock Price

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IBCP RSI Chart

IBCP Valuation

Market Cap

522.6M

Price/Earnings (Trailing)

8.85

Price/Sales (Trailing)

2.18

EV/EBITDA

1.47

Price/Free Cashflow

7.51

IBCP Price/Sales (Trailing)

IBCP Profitability

EBT Margin

30.74%

Return on Equity

14.6%

Return on Assets

1.12%

Free Cashflow Yield

13.31%

IBCP Fundamentals

IBCP Revenue

Revenue (TTM)

239.7M

Rev. Growth (Yr)

28.21%

Rev. Growth (Qtr)

4.69%

IBCP Earnings

Earnings (TTM)

59.1M

Earnings Growth (Yr)

-8.9%

Earnings Growth (Qtr)

-21.66%

Breaking Down IBCP Revenue

Last 7 days

2.6%

Last 30 days

-0.3%

Last 90 days

-3.2%

Trailing 12 Months

41.2%

How does IBCP drawdown profile look like?

IBCP Financial Health

IBCP Investor Care

Dividend Yield

3.68%

Dividend/Share (TTM)

0.92

Buy Backs (1Y)

1.06%

Diluted EPS (TTM)

2.79

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
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

GRUFITY'S FAIR VALUE MODEL

Stocks Marked 'Very Cheap' by Grufity's Fair Value Model Have Outperformed Russell 2000 Index

Small Caps and Mid Caps are mostly overlooked by investors as all the focus goes to Magnificent 7. These stocks that are not part of the beauty contest require a deeper look. However, all large cap stocks were once small caps. Grufity's Fair Value model opens up this unverse as it separates high-performing, rewarding stocks from low-performing risky stocks. <b>Russell 2000 stocks that were marked 'Very Cheap' by the model doubled in three years while the index was flat.</b>

Returns of $10,000 invested in:

Very Cheap Stocks: $21,859
Russell 2000 Index: $10,334
Very Expensive Stocks: $8,224

Russell 2000 stocks considered 'Very Cheap' by the model greatly outperformed Russell 2000 index and the 'Very Expensive' bucket over past three years.

Russell 2000 Index

Very Expensive Stocks

Very Cheap Stocks

Try For Just $1.99

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 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	ervin patrick j	acquired	-	-	2,484	executive vice president
Feb 06, 2024	kimball stefanie m	acquired	-	-	2,509	executive vice president
Feb 06, 2024	kessel william b	acquired	-	-	6,511	president & ceo
Feb 06, 2024	rahn joel f	acquired	-	-	2,417	executive vice president
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
Jan 26, 2024	twarozynski james j	acquired	-	-	235	senior vice president

Which funds bought or sold IBCP recently?

View All Details

Datesorted ascending	Fund Name	Type	% Chg	$ Change	$ Held	% Portfolio
Apr 25, 2024	nVerses Capital, LLC	new	-	5,070	5,070	0.01%
Apr 25, 2024	Bank of New York Mellon Corp	reduced	-3.09	-269,968	4,561,610	-%
Apr 25, 2024	Zurcher Kantonalbank (Zurich Cantonalbank)	unchanged	-	-2,281	86,317	-%
Apr 23, 2024	WEDGE CAPITAL MANAGEMENT L L P/NC	added	24.24	115,730	665,767	0.01%
Apr 23, 2024	AMALGAMATED BANK	reduced	-60.62	-28,000	18,000	-%
Apr 23, 2024	FIFTH THIRD BANCORP	reduced	-83.98	-45,235	8,366	-%
Apr 22, 2024	Raymond James Financial Services Advisors, Inc.	reduced	-5.56	-30,690	353,038	-%
Apr 22, 2024	MetLife Investment Management, LLC	unchanged	-	85,678	290,279	-%
Apr 19, 2024	DENALI ADVISORS LLC	added	64.15	82,639	220,545	0.06%
Apr 18, 2024	Allspring Global Investments Holdings, LLC	added	3.68	104,616	10,483,200	0.02%

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
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
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	557.3B	171.1B	-3.02%	41.18%	11.25	3.26	60.72%	31.52%
BAC	297.7B	130.3B	-	30.88%	11.23	2.29	79.51%	-3.68%
WFC	214.3B	85.7B	3.98%	51.03%	11.19	2.5	41.49%	39.96%
C	119.7B	133.3B	-0.18%	34.65%	12.97	0.9	79.09%	-
CFG	16.1B	10.2B	-1.93%	16.75%	10.02	1.58	44.53%	-22.43%
KEY	13.7B	7.9B	-6.07%	34.16%	14.19	1.73	46.47%	-49.56%
MID-CAP
CMA	6.9B	4.2B	-4.02%	25.94%	7.83	1.65	56.25%	-23.46%
ZION	6.2B	3.9B	-3.20%	57.15%	9.1	1.57	45.91%	-25.03%
ABCB	3.3B	1.3B	-0.60%	41.74%	12.27	2.58	43.24%	-22.35%
ASB	3.3B	2.0B	1.46%	20.10%	17.81	1.66	70.97%	-50.03%
SMALL-CAP
AMNB	497.6M	120.2M	6.68%	49.76%	19.02	4.14	45.65%	-13.98%
ALRS	400.7M	164.9M	-6.54%	37.44%	34.26	2.43	42.66%	-70.76%
AROW	378.6M	162.6M	-8.08%	4.96%	12.59	2.33	25.39%	-38.37%
ACNB	280.5M	96.6M	-10.60%	4.96%	8.85	2.9	11.02%	-11.37%
ASRV	45.1M	60.9M	-2.95%	-12.04%	-13.48	0.74	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	2023Q4	2023Q3	2023Q2	2023Q1	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4	2021Q3	2021Q2	2021Q1	2020Q4	2020Q3	2020Q2	2020Q1	2019Q4	2019Q3	2019Q2	2019Q1	2018Q4
Revenue	4.7%	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	36.00
EBITDA Margin	-6.4%	1.00*	1.07*	1.16*	1.26*	1.41*	1.49*	1.53*	1.54*	1.59*	1.62*	1.64*	1.65*	-	-	-	-	-	-	-	-	-
Interest Expenses	1.7%	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	31.00
Income Taxes	2.3%	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	2.00
Earnings Before Taxes	-17.1%	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	12.00
EBT Margin	-6.8%	0.31*	0.33*	0.36*	0.38*	0.46*	0.48*	0.50*	0.51*	0.56*	0.60*	0.64*	0.66*	-	-	-	-	-	-	-	-	-
Net Income	-21.7%	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	10.00
Net Income Margin	-8.1%	0.25*	0.27*	0.29*	0.31*	0.37*	0.39*	0.41*	0.42*	0.46*	0.49*	0.52*	0.54*	-	-	-	-	-	-	-	-	-
Free Cashflow	-36.3%	15.00	24.00	8.00	22.00	-0.88	32.00	22.00	36.00	53.00	-12.14	30.00	33.00	-	-	-	-	-	-	-	-	-

Balance Sheet

(In Millions)

(*) denotes actual numbers (not divided by Millions)
Balance Sheet																					(In Millions)
Description	(%) Q/Q	2023Q4	2023Q3	2023Q2	2023Q1	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4	2021Q3	2021Q2	2021Q1	2020Q4	2020Q3	2020Q2	2020Q1	2019Q4	2019Q3	2019Q2	2019Q1	2018Q4
Assets	1.2%	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	3,353
Cash Equivalents	33.2%	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	70.00
Net PPE	0.5%	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	39.00
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	0.7%	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	3,014
Shareholder's Equity	7.9%	404	375	375	368	348	332	331	355	398	400	396	387	390	373	355	336	350	340	331	345	339
Retained Earnings	6.0%	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	-28.27
Shares Outstanding	-0.1%	21.00	21.00	21.00	21.00	21.00	21.00	21.00	21.00	21.00	21.00	22.00	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	2023Q4	2023Q3	2023Q2	2023Q1	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4	2021Q3	2021Q2	2021Q1	2020Q4	2020Q3	2020Q2	2020Q1	2019Q4	2019Q3	2019Q2	2019Q1	2018Q4
Cashflow From Operations	-34.0%	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	24,293
Share Based Compensation	-10.4%	559	624	477	569	554	535	543	511	501	499	505	442	474	497	462	547	506	460	468	420	438
Cashflow From Investing	91.4%	-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	-51,636
Cashflow From Financing	-37.3%	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	44,417
Dividend Payments	-0.5%	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	3,609
Buy Backs	-88.5%	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	12,681

IBCP Income Statement

2023-12-31

Consolidated Statements of Operations - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
INTEREST INCOME
Interest and fees on loans	$ 197,725	$ 139,057	$ 116,644
Interest on securities
Taxable	23,314	20,676	14,488
Tax-exempt	13,209	8,391	6,102
Other investments	5,429	884	846
Total Interest Income	239,677	169,008	138,080
INTEREST EXPENSE
Deposits	75,075	14,151	4,465
Other borrowings and subordinated debt and debentures	8,273	5,296	3,850
Total Interest Expense	83,348	19,447	8,315
Net Interest Income	156,329	149,561	129,765
Provision for credit losses	6,210	5,341	(1,928)
Net Interest Income After Provision for Credit Losses	150,119	144,220	131,693
NON-INTEREST INCOME
Interchange income	13,996	13,955	14,045
Service charges on deposit accounts	12,361	12,288	10,170
Net gains (losses) on assets
Mortgage loans	7,436	6,431	35,880
Securities available for sale	(222)	(275)	1,411
Mortgage loan servicing, net	4,626	18,773	5,745
Other	12,479	10,737	9,392
Total Non-interest Income	50,676	61,909	76,643
NON-INTEREST EXPENSE
Compensation and employee benefits	78,965	81,007	79,969
Data processing	11,862	10,183	10,823
Occupancy, net	7,908	8,907	8,794
Interchange expense	4,332	4,242	4,434
Furniture, fixtures and equipment	3,756	4,007	4,172
FDIC deposit insurance	3,005	2,142	1,396
Communications	2,406	2,871	3,080
Legal and professional	2,208	2,133	2,068
Loan and collection	2,174	2,657	3,172
Advertising	2,165	2,074	1,918
Costs related to unfunded lending commitments	424	599	1,207
Conversion related expense	0	50	1,827
Other	7,914	7,469	8,163
Total Non-interest Expense	127,119	128,341	131,023
Income Before Income Tax	73,676	77,788	77,313
Income tax expense	14,609	14,437	14,418
Net Income	$ 59,067	$ 63,351	$ 62,895
Net income per common share
Basic (in dollars per share)	$ 2.82	$ 3.00	$ 2.91
Diluted (in dollars per share)	$ 2.79	$ 2.97	$ 2.88

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 Fri Apr 26 2024, market cap of Independent Bank Corp-MI is 522.64 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 Fri Apr 26 2024, IBCP's PE ratio (Price to Earnings) is 8.85 and Price to Sales (PS) ratio is 2.18. 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 0.098 (multiply by 100 for percentage) rate of return.