IBCP

Independent Bank Corp (Michigan)

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Advanced Chart

32.440

-0.340(-1.040%)

Overview
Forecast
Valuation

Line

Candle

YTD

High

32.800

Open

32.690

VWAP

32.52

Vol

64.87K

Mkt Cap

672.19M

Low

32.310

Amount

2.11M

EV/EBITDA(TTM)

8.16

Total Shares

20.90M

728.80M

EV/OCF(TTM)

5.81

P/S(TTM)

3.69

Independent Bank Corporation is a bank holding company for Independent Bank (the Bank). The Bank provides a full range of financial services, including commercial banking, mortgage lending, investments, and insurance. It offers a broad 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. Its principal markets are the rural and suburban communities across Lower Michigan, which are served by the bank's main office in Grand Rapids, Michigan, and a total of 56 branches, two drive-thru facilities, and five Michigan-based loan production offices. It also has one loan production facility in Ohio (Fairlawn). The bank's branches provide full-service lobby and drive-thru services, as well as automatic teller machines (ATMs). In addition, it also provides Internet and mobile banking capabilities to its customers.

Market Estimates

Earnings Estimates

Revenue

YoY Chg

EPS

YoYChg

FY2025Q4

FY2025Q3

FY2025Q2

49.28M

+15%

0.826

+33.23%

48.79M

+16.56%

0.834

+2.96%

47.72M

+15.42%

0.786

+4.8%

Estimates Revision

The market is revising Upward the revenue expectations for Independent Bank Corporation (IBCP) for FY2025, with the revenue forecasts being adjusted by 8.43% over the past three months. During the same period, the stock price has changed by -7.60%.

Revenue Estimates for FY2025

Revise Upward

+8.43%

In Past 3 Month

EPS Estimates for FY2025

Revise Upward

+3.67%

In Past 3 Month

Stock Price

Go Down

-7.60%

In Past 3 Month

3 Analyst Rating

8.91% Upside

Wall Street analysts forecast IBCP stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for IBCP is 35.33 USD with a low forecast of 35.00 USD and a high forecast of 36.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.

0 Buy

3 Hold

0 Sell

Hold

8.91% Upside

Current: 32.440

Low

35.00

Averages

35.33

High

36.00

8.91% Upside

Current: 32.440

Low

35.00

Averages

35.33

High

36.00

Piper Sandler

Nathan Race

Hold

Maintains

$38 → $36

2025-04-28

Reason

Piper Sandler

Nathan Race

Price Target

$38 → $36

2025-04-28

Maintains

Hold

Reason

Keefe, Bruyette & Woods

Damon Delmonte

Hold

Maintains

$37 → $35

2025-04-25

Reason

Keefe, Bruyette & Woods

Damon Delmonte

Price Target

$37 → $35

2025-04-25

Maintains

Hold

Reason

Keefe Bruyette analyst Damon DelMonte lowered the firm's price target on Independent Bank to $35 from $37 and keeps a Market Perform rating on the shares.

DA Davidson

Peter Winter

Hold

Maintains

$37 → $39

2025-01-28

Reason

DA Davidson

Peter Winter

Price Target

$37 → $39

2025-01-28

Maintains

Hold

Reason

Keefe, Bruyette & Woods

Damon Delmonte

Hold

Reiterates

$39 → $41

2025-01-24

Reason

Keefe, Bruyette & Woods

Damon Delmonte

Price Target

$39 → $41

2025-01-24

Reiterates

Hold

Reason

Keefe Bruyette raised the firm's price target on Independent Bank to $41 from $39 and keeps a Market Perform rating on the shares.

Keefe, Bruyette & Woods

Damon Delmonte

Hold

Maintains

$33 → $39

2024-12-04

Reason

Keefe, Bruyette & Woods

Damon Delmonte

Price Target

$33 → $39

2024-12-04

Maintains

Hold

Reason

Keefe, Bruyette & Woods

Damon Delmonte

Hold

Reiterates

$26 → $31

2024-07-29

Reason

Keefe, Bruyette & Woods

Damon Delmonte

Price Target

$26 → $31

2024-07-29

Reiterates

Hold

Reason

See All Ratings

Valuation Metrics

The current forward P/E ratio for Independent Bank Corp (Michigan) (IBCP.O) is 10.12, compared to its 5-year average forward P/E of 8.76. For a more detailed relative valuation and DCF analysis to assess Independent Bank Corp (Michigan) 's fair value, click here.

Forward PE

The forward P/E ratio is a valuation metric that divides a company's current stock price by its estimated future earnings per share over the next 12 months.

Fair

5Y Average PE

8.76

Current PE

10.12

Overvalued PE

10.13

Undervalued PE

7.38

Forward EV/EBITDA

The forward EV/EBITDA ratio is a valuation metric that divides a company's enterprise value (EV) by its estimated future earnings before interest, taxes, depreciation, and amortization (EBITDA) over the next 12 months.

N/A

5Y Average EV/EBITDA

0.00

Current EV/EBITDA

0.00

Overvalued EV/EBITDA

0.00

Undervalued EV/EBITDA

0.00

Forward PS

The forward P/S ratio is a valuation metric that divides a company's current stock price by its estimated future sales (or revenue) per share over the next 12 months.

Fair

5Y Average PS

3.17

Current PS

3.40

Overvalued PS

3.74

Undervalued PS

2.60