Independent Bank (IBCP) to Release Earnings on Thursday

Independent Bank (NASDAQ:IBCP) will likely be posting its Q2 2025 quarterly earnings results before the market opens on Thursday, July 24th. Analysts expect Independent Bank to post earnings of $0.78 per share and revenue of $47.72 million for the quarter.

Independent Bank (NASDAQ:IBCP) last issued its quarterly earnings results on Thursday, April 24th. The financial services provider reported $0.74 earnings per share for the quarter, beating the consensus estimate of $0.70 by $0.04. Independent Bank had a return on equity of 14.71% and a net margin of 20.62%. The company had revenue of $54.11 million during the quarter, compared to the consensus estimate of $46.25 million. On average, analysts expect Independent Bank to post $3 EPS for the current fiscal year and $3 EPS for the next fiscal year.

Independent Bank Stock Up 1.2%

Shares of NASDAQ IBCP opened at $33.87 on Thursday. Independent Bank has a 52-week low of $26.75 and a 52-week high of $40.32. The firm has a fifty day moving average of $32.19 and a 200-day moving average of $32.47. The stock has a market capitalization of $701.79 million, a PE ratio of 10.79 and a beta of 0.84. The company has a quick ratio of 0.90, a current ratio of 0.91 and a debt-to-equity ratio of 0.27.

Independent Bank Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Monday, May 5th were paid a dividend of $0.26 per share. The ex-dividend date was Monday, May 5th. This represents a $1.04 annualized dividend and a dividend yield of 3.07%. Independent Bank’s dividend payout ratio is presently 33.12%.

Insiders Place Their Bets

In other Independent Bank news, Director Terance L. Beia purchased 1,821 shares of the firm’s stock in a transaction that occurred on Friday, June 13th. The stock was purchased at an average cost of $30.65 per share, with a total value of $55,813.65. Following the transaction, the director owned 40,001 shares in the company, valued at approximately $1,226,030.65. This trade represents a 4.77% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Michael M. Magee, Jr. sold 6,404 shares of the company’s stock in a transaction on Tuesday, April 29th. The stock was sold at an average price of $31.00, for a total transaction of $198,524.00. Following the sale, the director directly owned 8,381 shares of the company’s stock, valued at approximately $259,811. This trade represents a 43.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.68% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Independent Bank

A number of institutional investors have recently added to or reduced their stakes in IBCP. Integrated Wealth Concepts LLC acquired a new position in Independent Bank in the 1st quarter worth $287,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Independent Bank by 4.1% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,816 shares of the financial services provider’s stock worth $364,000 after buying an additional 464 shares in the last quarter. Jane Street Group LLC lifted its holdings in Independent Bank by 65.5% in the 1st quarter. Jane Street Group LLC now owns 23,640 shares of the financial services provider’s stock worth $728,000 after buying an additional 9,355 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Independent Bank by 24.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 71,115 shares of the financial services provider’s stock worth $2,190,000 after buying an additional 13,926 shares in the last quarter. Finally, Millennium Management LLC lifted its holdings in Independent Bank by 469.8% in the 1st quarter. Millennium Management LLC now owns 130,953 shares of the financial services provider’s stock worth $4,032,000 after buying an additional 107,972 shares in the last quarter. Institutional investors and hedge funds own 79.43% of the company’s stock.

Analyst Upgrades and Downgrades

IBCP has been the subject of several research reports. Keefe, Bruyette & Woods lowered their price objective on shares of Independent Bank from $37.00 to $35.00 and set a “market perform” rating for the company in a research note on Friday, April 25th. Piper Sandler lowered their price objective on shares of Independent Bank from $38.00 to $36.00 and set a “neutral” rating for the company in a research note on Monday, April 28th.

Independent Bank Company Profile

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.