Somewhat Positive Press Coverage Somewhat Unlikely to Affect Independent Bank Corporation (IBCP) Stock Price
News headlines about Independent Bank Corporation (NASDAQ:IBCP) have been trending somewhat positive this week, according to Accern Sentiment Analysis. The research firm identifies positive and negative press coverage by analyzing more than 20 million news and blog sources in real time. Accern ranks coverage of 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 0.23 on Accern’s scale. Accern also assigned news stories about the financial services provider an impact score of 46.048491425155 out of 100, indicating that recent press coverage is somewhat unlikely to have an effect on the stock’s share price in the near future.
A number of equities research analysts have commented on the company. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $22.00 target price on shares of Independent Bank Corporation in a report on Wednesday, October 4th. BidaskClub cut Independent Bank Corporation from a “sell” rating to a “strong sell” rating in a report on Monday, July 31st. Boenning Scattergood reiterated a “hold” rating on shares of Independent Bank Corporation in a report on Friday, October 27th. Finally, Zacks Investment Research upgraded Independent Bank Corporation from a “hold” rating to a “buy” rating and set a $23.00 target price on the stock in a report on Wednesday, September 27th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. Independent Bank Corporation currently has a consensus rating of “Hold” and a consensus price target of $22.67.
Shares of Independent Bank Corporation (NASDAQ IBCP) opened at $22.30 on Friday. The company has a market capitalization of $473.57, a price-to-earnings ratio of 19.25, a price-to-earnings-growth ratio of 2.28 and a beta of 0.70. The company has a current ratio of 0.86, a quick ratio of 0.84 and a debt-to-equity ratio of 0.40. Independent Bank Corporation has a fifty-two week low of $18.30 and a fifty-two week high of $23.65.
Independent Bank Corporation (NASDAQ:IBCP) last posted its quarterly earnings data on Thursday, October 26th. The financial services provider reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.33 by ($0.01). Independent Bank Corporation had a return on equity of 9.52% and a net margin of 17.75%. The business had revenue of $33.22 million for the quarter, compared to analyst estimates of $33.36 million. equities research analysts forecast that Independent Bank Corporation will post 1.2 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 15th. Stockholders of record on Monday, November 6th were issued a dividend of $0.12 per share. This is a boost from Independent Bank Corporation’s previous quarterly dividend of $0.10. The ex-dividend date of this dividend was Friday, November 3rd. This represents a $0.48 annualized dividend and a dividend yield of 2.15%. 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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