Q1 Earnings Estimate for IBCP Issued By DA Davidson

Independent Bank Co. (NASDAQ:IBCP) – Stock analysts at DA Davidson issued their Q1 2025 earnings per share (EPS) estimates for 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 post earnings of $0.72 per share for the quarter. DA Davidson currently 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 issued its quarterly earnings data on Thursday, January 23rd. The financial services provider reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.10. Independent Bank had a return on equity of 15.26% and a net margin of 19.93%.

Separately, Keefe, Bruyette & Woods restated 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

Independent Bank stock opened at $35.95 on Wednesday. Independent Bank has a 52-week low of $22.53 and a 52-week 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. The firm’s fifty day moving average is $35.95 and its 200 day moving average is $34.37. The company has a market cap of $751.14 million, a price-to-earnings ratio of 12.23 and a beta of 1.03.

Independent Bank Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Tuesday, February 4th will be given a $0.26 dividend. The ex-dividend date is Tuesday, February 4th. This is an increase from Independent Bank’s previous quarterly dividend of $0.24. This represents a $1.04 dividend on an annualized basis and a yield of 2.89%. Independent Bank’s dividend payout ratio (DPR) is currently 32.91%.

Insiders Place Their Bets

In other news, EVP Gavin A. Mohr acquired 800 shares of Independent Bank stock in a transaction that occurred on Wednesday, November 20th. The shares were bought at an average cost of $36.71 per share, with a total value of $29,368.00. Following the transaction, the executive vice president now directly owns 18,662 shares of the company’s stock, valued at $685,082.02. This trade represents a 4.48 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. 5.45% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. HighTower Advisors LLC boosted its holdings in Independent Bank by 1.5% during the 3rd quarter. HighTower Advisors LLC now owns 26,672 shares of the financial services provider’s stock valued at $889,000 after acquiring an additional 384 shares during the period. National Bank of Canada FI bought a new stake in shares of Independent Bank during the third quarter worth $26,000. nVerses Capital LLC purchased a new stake in shares of Independent Bank during the third quarter valued at $27,000. Truist Financial Corp grew its holdings in shares of Independent Bank by 8.4% in the second quarter. Truist Financial Corp now owns 14,181 shares of the financial services provider’s stock worth $383,000 after purchasing an additional 1,100 shares during the last quarter. Finally, Franklin Resources Inc. increased its stake in Independent Bank by 3.9% in the 3rd quarter. Franklin Resources Inc. now owns 32,756 shares of the financial services provider’s stock worth $1,095,000 after buying an additional 1,217 shares during the period. Institutional investors own 79.43% of the company’s stock.

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.