Streetbeat News

IBCP

Independent Bank Corporation

https://www.independentbank.com

Industry

Banks - Regional

Independent Bank Corporation operates as the bank holding company for Independent Bank that provides various banking services to individuals and businesses. The company offers checking and savings accounts, commercial lending, direct and indirect consumer financing, mortgage lending, and safe deposit box services, as well as automatic teller machine, and Internet and mobile banking services. It also provides title insurance, insurance brokerage, and investment services. The company offers its services through approximately 59 branches, two drive-thru facilities, and seven loan production offices in Michigan; and two loan production offices in Ohio. Independent Bank Corporation was founded in 1864 and is based in Grand Rapids, Michigan.

Open

37.26

Mkt cap

788M

Volume

58K

High

38.04

P/E Ratio

12.83

52-wk high

39.52

Low

37.20

Div yield

0.03

52-wk low

20.50

Independent Bank (NASDAQ:IBCP) reported Q3 earnings of $0.83 per share, beating the analyst consensus estimate of $0.62 by 33.87%. This is a 2.47% increase from the same period last year. The company also reported quarterly sales of $39.43 million, beating the analyst consensus estimate of $36.74 million by 7.31%. However, this is a 1.18% decrease from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

October 24, 2023 | 12:03 pm

Independent Bank (NASDAQ:IBCP) is set to release its quarterly earnings report on Tuesday, 2023-10-24, with analysts estimating an EPS of $0.62. The bank's previous quarter saw an EPS beat by $0.11, resulting in a 4.68% share price increase the next day. However, the bank's shares have seen a general decline over the last 52-week period, down by 18.55%.

Portfolio Pulse from Benzinga Insights

October 23, 2023 | 9:01 pm

Insiders at four companies, Nuvectis Pharma, B. Riley Financial, Independent Bank Corporation, and Texas Capital Bancshares, have made notable purchases of their companies' stocks. This could indicate confidence in the companies' prospects or that the insiders view the stocks as a bargain. However, insider purchases should not be the sole indicator for making an investment or trading decision.

Portfolio Pulse from Lisa Levin

July 28, 2023 | 1:56 pm

Keefe, Bruyette & Woods analyst Christopher Mcgratty maintains a Market Perform rating on Independent Bank (NASDAQ:IBCP) and raises the price target from $20 to $21.

Portfolio Pulse from Benzinga Newsdesk

July 26, 2023 | 3:53 pm

Independent Bank (NASDAQ:IBCP) reported Q2 earnings of $0.70 per share, beating the analyst consensus estimate of $0.59 by 18.64%. This is a 14.75% increase from the same period last year. The company also reported quarterly sales of $38.35 million, beating the analyst consensus estimate of $38.04 million by 0.81%. This is a 6.35% increase from the same period last year.

Portfolio Pulse from Happy Mohamed

July 25, 2023 | 12:14 pm

Independent Bank (NASDAQ:IBCP) reported Q2 earnings of $0.70 per share, beating the analyst consensus estimate of $0.59 by 18.64%. This is a 14.75% increase from the same period last year. The company also reported quarterly sales of $53.77 million, beating the analyst consensus estimate of $38.04 million by 41.34%. This is a 49.10% increase from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

July 25, 2023 | 12:03 pm

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