Independent Bank Corporation

Company Profile

Independent Bank Corporation had its IPO on 2001-01-02 under the ticker symbol IBCP.

The company operates in the Financial Services sector and Banks-Regional industry. Independent Bank Corporation has a staff strength of 803 employees.

Stock update

Shares of Independent Bank Corporation opened at $18.95 at the start of the last trading session i.e. 2023-09-12.

The stocks traded within a range of $18.79 - $19.16, and closed at $18.86.

This is a -0.16% slip from the previous day's closing price.

A total volume of 46,111 shares were traded at the close of the day’s session.

In the last one week, shares of Independent Bank Corporation have slipped by -3.13%.

Independent Bank Corporation's Key Ratios

Independent Bank Corporation has a market cap of $395.64 million, indicating a price to book ratio of 1.2889 and a price to sales ratio of 2.37.

In the last 12-months Independent Bank Corporation’s revenue was $201.58 million with a gross profit of $206.13 million and an EBITDA of $0. The EBITDA ratio measures Independent Bank Corporation's overall financial performance and is widely used to measure its profitability.

In the trailing 12-month period, Independent Bank Corporation’s operating margin was 38.01% while its return on assets stood at 1.21% with a return of equity of 17.04%.

In Q2, Independent Bank Corporation’s quarterly earnings growth was a positive 14.8% while revenue growth was a positive 4.4%.

Independent Bank Corporation’s PE and PEG Ratio

Forward PE

7.734

Trailing PE

6.6749

PEG

2.33

Its diluted EPS in the last 12-months stands at $2.83 per share while it has a forward price to earnings multiple of 7.734 and a PEG multiple of 2.33. A low price to earnings ratio can mean the stock is attractively valued while a high ratio suggests the stock may be overvalued.

The PEG on the other hand provides a broader view compared to the P/E ratio and gives greater insight into Independent Bank Corporation’s profitability.

Independent Bank Corporation stock is trading at a EV to sales ratio of 0 and a EV to EBITDA ratio of 0. Its price to sales ratio in the trailing 12-months stood at 2.37.

Independent Bank Corporation stock pays annual dividends of $0.9 per share, indicating a yield of 4.89% and a payout ratio of 32.16%.

Balance sheet and cash flow metrics

Total Assets

$5.14 billion

Total Liabilities

$4.49 billion

Operating Cash Flow

$-82369000.00

Capital Expenditure

$1.75 million

Dividend Payout Ratio

32.16%

Independent Bank Corporation ended 2024 with $5.14 billion in total assets and $0 in total liabilities. Its intangible assets were valued at $5.14 billion while shareholder equity stood at $375.16 million.

Independent Bank Corporation ended 2024 with $0 in deferred long-term liabilities, $4.49 billion in other current liabilities, 318241000.00 in common stock, $137.43 million in retained earnings and $28.30 million in goodwill. Its cash balance stood at $129.19 million and cash and short-term investments were $860.97 million. The company’s total short-term debt was $0 while long-term debt stood at $169.18 million.

Independent Bank Corporation’s total current assets stands at $860.97 million while long-term investments were $1.09 billion and short-term investments were $731.78 million. Its net receivables were $3.62 billion compared to accounts payable of $0 and inventory worth $0.

In 2024, Independent Bank Corporation's operating cash flow was $-82369000.00 while its capital expenditure stood at $1.75 million.

Comparatively, Independent Bank Corporation paid $0.32 in dividends in 2024.

Other key metrics

Current Trading Price

$18.86

52-Week High

$24.097

52-Week Low

$14.7346

Analyst Target Price

$20.3

Independent Bank Corporation stock is currently trading at $18.86 per share. It touched a 52-week high of $24.097 and a 52-week low of $24.097. Analysts tracking the stock have a 12-month average target price of $20.3.

Its 50-day moving average was $19.13 and 200-day moving average was $19.5 The short ratio stood at 3.32 indicating a short percent outstanding of 0%.

Around 455.9% of the company’s stock are held by insiders while 8080.9% are held by institutions.