Headlines about Independent Bank Corporation (NASDAQ:IBCP) have been trending somewhat positive recently, according to Accern Sentiment Analysis. The research firm rates the sentiment of media coverage by monitoring more than 20 million news and blog sources in real time. Accern ranks coverage of public companies on a scale of -1 to 1, with scores nearest to one being the most favorable. Independent Bank Corporation earned a news impact score of 0.22 on Accern’s scale. Accern also gave news headlines about the financial services provider an impact score of 46.1868419123026 out of 100, meaning that recent media coverage is somewhat unlikely to have an impact on the stock’s share price in the immediate future.
Here are some of the news headlines that may have impacted Accern’s analysis:
- Independent Bank Corporation (IBCP) Receives Consensus Rating of “Hold” from Brokerages (americanbankingnews.com)
- Independent Bank Corporation About To Put More Money In Your Pocket (nasdaq.com)
- FIG Partners Brokers Boost Earnings Estimates for Independent Bank Corporation (IBCP) (americanbankingnews.com)
- What Is Independent Bank Group Inc’s (IBTX) Share Price Doing? (finance.yahoo.com)
- FY2017 EPS Estimates for Independent Bank Corporation (IBCP) Cut by Analyst (americanbankingnews.com)
Several equities analysts recently commented on the stock. Boenning Scattergood reiterated a “hold” rating on shares of Independent Bank Corporation in a research note on Friday, October 27th. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $22.00 target price on shares of Independent Bank Corporation in a research note on Wednesday, October 4th. BidaskClub cut shares of Independent Bank Corporation from a “hold” rating to a “sell” rating in a research note on Wednesday, July 19th. Finally, Zacks Investment Research upgraded shares of Independent Bank Corporation from a “hold” rating to a “buy” rating and set a $23.00 target price for the company in a research note on Wednesday, September 27th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company’s stock. Independent Bank Corporation has an average rating of “Hold” and an average target price of $22.67.
Shares of Independent Bank Corporation (NASDAQ:IBCP) traded down $0.13 during mid-day trading on Friday, hitting $22.70. 34,042 shares of the stock were exchanged, compared to its average volume of 63,149. Independent Bank Corporation has a 52 week low of $16.55 and a 52 week high of $23.65. The firm has a market cap of $484.24, a PE ratio of 19.91, a price-to-earnings-growth ratio of 2.36 and a beta of 0.71. The company has a current ratio of 0.84, a quick ratio of 0.82 and a debt-to-equity ratio of 0.46.
Independent Bank Corporation (NASDAQ:IBCP) last announced its quarterly earnings data on Thursday, October 26th. The financial services provider reported $0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.01). Independent Bank Corporation had a net margin of 17.75% and a return on equity of 9.63%. The business had revenue of $33.22 million during the quarter, compared to analyst estimates of $33.36 million. research analysts forecast that Independent Bank Corporation will post 1.2 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 15th. Stockholders of record on Monday, November 6th will be paid a $0.12 dividend. This is a boost from Independent Bank Corporation’s previous quarterly dividend of $0.10. The ex-dividend date of this dividend is Friday, November 3rd. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.11%. Independent Bank Corporation’s dividend payout ratio is currently 35.09%.
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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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