Independent Bank Corporation (IBCP)

Market Cap	378.67M
Revenue (ttm)	201.58M
Net Income (ttm)	60.16M
Shares Out	20.94M
EPS (ttm)	2.82
PE Ratio	6.41
Forward PE	7.26
Dividend	$0.92 (5.09%)
Ex-Dividend Date	Aug 3, 2023

Volume	48,241
Open	18.16
Previous Close	18.07
Day's Range	17.89 - 18.20
52-Week Range	14.90 - 24.97
Beta	0.97
Analysts	Hold
Price Target	21.00 (+16.15%)
Earnings Date	Oct 24, 2023

About IBCP

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.

• Industry: Banks - Regional
• Sector: Financials
• Founded: 1864
• Employees: 803
• Stock Exchange: NASDAQ
• Ticker Symbol: IBCP

Financial Performance

In 2022, IBCP's revenue was $206.13 million, a decrease of -1.06% compared to the previous year's $208.34 million. Earnings were $63.35 million, an increase of 0.73%.

Analyst Forecast

According to one analyst, the rating for IBCP stock is "Hold" and the 12-month stock price forecast is $21.0.

Price Target

$21.0

(16.15% upside)

Analyst Consensus: Hold