Independent Bank Corporation (IBCP) Receives Media Sentiment Rating of 0.27
Media coverage about Independent Bank Corporation (NASDAQ:IBCP) has been trending positive this week, according to Accern Sentiment. The research group ranks the sentiment of news coverage by monitoring more than 20 million blog and news sources in real time. Accern ranks coverage of public companies on a scale of -1 to 1, with scores closest to one being the most favorable. Independent Bank Corporation earned a media sentiment score of 0.27 on Accern’s scale. Accern also assigned news coverage about the financial services provider an impact score of 45.9921374566987 out of 100, meaning that recent news coverage is somewhat unlikely to have an effect on the stock’s share price in the next several days.
Several equities analysts have commented on the company. Boenning Scattergood reiterated a “hold” rating on shares of Independent Bank Corporation in a research report on Friday, October 27th. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $22.00 price target on shares of Independent Bank Corporation in a research note on Wednesday, October 4th. Zacks Investment Research raised Independent Bank Corporation from a “hold” rating to a “buy” rating and set a $23.00 price target for the company in a research note on Wednesday, September 27th. Finally, BidaskClub cut Independent Bank Corporation from a “sell” rating to a “strong sell” rating in a research note on Monday, July 31st. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. Independent Bank Corporation presently has an average rating of “Hold” and a consensus target price of $22.67.
Shares of Independent Bank Corporation (NASDAQ:IBCP) opened at $21.60 on Friday. Independent Bank Corporation has a one year low of $17.48 and a one year high of $23.65. The company has a market capitalization of $460.77, a P/E ratio of 18.95, a P/E/G ratio of 2.24 and a beta of 0.71. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.82 and a current ratio of 0.86.
Independent Bank Corporation (NASDAQ:IBCP) last announced its quarterly earnings data on Thursday, October 26th. The financial services provider reported $0.32 EPS for the quarter, missing the Zacks’ consensus estimate of $0.33 by ($0.01). Independent Bank Corporation had a net margin of 17.75% and a return on equity of 9.52%. The firm had revenue of $33.22 million during the quarter, compared to analyst estimates of $33.36 million. analysts forecast that Independent Bank Corporation will post 1.2 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 15th. Shareholders of record on Monday, November 6th will be paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 2.22%. The ex-dividend date of this dividend is Friday, November 3rd. This is a boost from Independent Bank Corporation’s previous quarterly dividend of $0.10. Independent Bank Corporation’s dividend payout ratio (DPR) is 42.11%.
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Independent Bank Corporation Company Profile
Independent Bank Corporation is a bank holding company. The Company owns all of the outstanding stock of Independent Bank (the Bank). The Bank focuses on commercial banking industry. The Bank offers a range of banking services to individuals and businesses, including checking and savings accounts, commercial lending, direct and indirect consumer financing, mortgage lending and safe deposit box services.
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