DA Davidson Predicts Higher Earnings for Independent Bank

Independent Bank Corporation (NASDAQ:IBCP) – Analysts at DA Davidson lifted their FY2025 EPS estimates for shares of Independent Bank in a report released on Wednesday, October 29th. DA Davidson analyst P. Winter now expects that the financial services provider will post earnings per share of $3.28 for the year, up from their prior estimate of $3.23. DA Davidson currently has a “Neutral” rating and a $37.00 target price on the stock. The consensus estimate for Independent Bank’s current full-year earnings is $3.22 per share. DA Davidson also issued estimates for Independent Bank’s Q4 2025 earnings at $0.87 EPS.

Separately, Weiss Ratings cut shares of Independent Bank from a “buy (b-)” rating to a “hold (c+)” rating in a report on Saturday, October 25th. Four equities research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $36.00.

Independent Bank Price Performance

Shares of NASDAQ IBCP opened at $31.01 on Thursday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.92 and a current ratio of 0.92. Independent Bank has a fifty-two week low of $26.75 and a fifty-two week high of $40.32. The firm has a market capitalization of $642.22 million, a PE ratio of 9.51 and a beta of 0.79. The stock’s 50-day simple moving average is $31.78 and its 200-day simple moving average is $31.77.

Independent Bank (NASDAQ:IBCP) last posted its quarterly earnings results on Tuesday, October 28th. The financial services provider reported $0.84 earnings per share for the quarter, beating analysts’ consensus estimates of $0.83 by $0.01. Independent Bank had a return on equity of 14.76% and a net margin of 21.25%.The company had revenue of $57.30 million for the quarter, compared to analysts’ expectations of $50.18 million.

Independent Bank Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Tuesday, November 4th will be given a dividend of $0.26 per share. The ex-dividend date of this dividend is Tuesday, November 4th. This represents a $1.04 annualized dividend and a yield of 3.4%. Independent Bank’s payout ratio is 33.88%.

Insider Activity at Independent Bank

In other news, EVP Stefanie M. Kimball sold 1,400 shares of Independent Bank stock in a transaction on Wednesday, September 3rd. The shares were sold at an average price of $32.64, for a total value of $45,696.00. Following the transaction, the executive vice president directly owned 62,389 shares of the company’s stock, valued at $2,036,376.96. The trade was a 2.19% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Gavin A. Mohr acquired 2,000 shares of the company’s stock in a transaction on Tuesday, August 5th. The stock was acquired at an average price of $29.64 per share, for a total transaction of $59,280.00. Following the completion of the purchase, the executive vice president owned 23,826 shares of the company’s stock, valued at $706,202.64. This trade represents a 9.16% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 5.68% of the company’s stock.

Hedge Funds Weigh In On Independent Bank

Institutional investors have recently added to or reduced their stakes in the stock. GSA Capital Partners LLP increased its position in Independent Bank by 61.4% in the 1st quarter. GSA Capital Partners LLP now owns 26,722 shares of the financial services provider’s stock valued at $823,000 after acquiring an additional 10,170 shares during the period. Hudson Edge Investment Partners Inc. increased its holdings in shares of Independent Bank by 44.5% in the first quarter. Hudson Edge Investment Partners Inc. now owns 31,258 shares of the financial services provider’s stock valued at $962,000 after purchasing an additional 9,630 shares during the period. Voya Investment Management LLC increased its holdings in shares of Independent Bank by 39.5% in the first quarter. Voya Investment Management LLC now owns 26,927 shares of the financial services provider’s stock valued at $829,000 after purchasing an additional 7,628 shares during the period. MQS Management LLC acquired a new position in shares of Independent Bank in the first quarter valued at approximately $297,000. Finally, Vanguard Group Inc. increased its holdings in shares of Independent Bank by 9.5% in the first quarter. Vanguard Group Inc. now owns 1,335,049 shares of the financial services provider’s stock valued at $41,106,000 after purchasing an additional 116,339 shares during the period. Institutional investors and hedge funds own 79.43% of the company’s stock.

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.