1.92%
-6.65%
-10.11%
-0.26%
40.12%
42.95%
67.39%
AI Spotlight on IBCP
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Company Description
Independent Bank Corporation operates as the bank holding company for Independent Bank that provides various banking services to individuals and businesses.The company offers checking and savings accounts, commercial lending, direct and indirect consumer financing, mortgage lending, and safe deposit box services, as well as automatic teller machine, and Internet and mobile banking services.It also provides title insurance, insurance brokerage, and investment services.
The company offers its services through approximately 59 branches, two drive-thru facilities, and seven loan production offices in Michigan; and two loan production offices in Ohio.Independent Bank Corporation was founded in 1864 and is based in Grand Rapids, Michigan.
Market Data
| Last Price | 33.98 |
| Change Percentage | 1.92% |
| Open | 33.52 |
| Previous Close | 33.34 |
| Market Cap ( Millions) | 710 |
| Volume | 188863 |
| Year High | 40.32 |
| Year Low | 22.53 |
| M A 50 | 35.05 |
| M A 200 | 32.53 |
Financial Ratios
| FCF Yield | 7.64% |
| Dividend Yield | 2.88% |
| ROE | 14.58% |
| Debt / Equity | 17.54% |
| Net Debt / EBIDTA | -87.95% |
| Price To Book | 1.57 |
| Price Earnings Ratio | 11.44 |
| Price To FCF | 13.08 |
| Price To sales | 2.27 |
| EV / EBITDA | 13.91 |
News
- Jan -31 - 16 Upcoming Dividend Increases
- Jan -30 - Independent Bank (IBCP) Moves to Strong Buy: Rationale Behind the Upgrade
- Jan -29 - Independent Bank: A Solid Bank But Not Cheap Enough
- Jan -24 - Independent Bank Corporation (IBCP) Q4 2024 Earnings Call Transcript
- Jan -23 - Independent Bank (IBCP) Q4 Earnings: How Key Metrics Compare to Wall Street Estimates
- Jan -23 - Independent Bank (IBCP) Tops Q4 Earnings and Revenue Estimates
- Jan -23 - Independent Bank Corporation Reports 2024 Fourth Quarter Results
- Jan -20 - Stay Ahead of the Game With Independent Bank (IBCP) Q4 Earnings: Wall Street's Insights on Key Metrics
- Jan -10 - Independent Bank Corporation Announces 8% Increase in Quarterly Cash Dividend on Common Stock
- Jan -02 - Independent Bank Corporation Announces Appointment of New Chief Operating Officer
- Dec -23 - UPDATE -- Independent Bank Corporation Announces Date for its Fourth Quarter 2024 Earnings Release
- Dec -20 - Independent Bank Corporation Announces Date for its Fourth Quarter 2024 Earnings Release
- Dec -17 - Independent Bank Corporation Announces the Adoption of its 2025 Share Repurchase Plan
- Oct -29 - Independent Bank: Fairly Valued With A Stable Earnings Outlook
- Oct -24 - Independent Bank Corporation (IBCP) Q3 2024 Earnings Call Transcript
- Oct -24 - Independent Bank (IBCP) Reports Q3 Earnings: What Key Metrics Have to Say
- Oct -24 - Independent Bank (IBCP) Misses Q3 Earnings and Revenue Estimates
- Oct -24 - Independent Bank Corporation Reports 2024 Third Quarter Results
- Oct -22 - Independent Bank Corporation Announces Quarterly Cash Dividend on Common Stock
- Sep -23 - Independent Bank Corporation Announces Date for Its Third Quarter 2024 Earnings Release
Business Breakdown
Expected Mid-Term Growth
Segment n°1 -> Commercial Banking
Expected Growth : 4.77 %
What the company do ?
Commercial Banking from Independent Bank Corporation provides financial solutions to businesses, including cash management, lending, and treasury services to help them grow and succeed.
Why we expect these perspectives ?
Independent Bank Corporation's 4.77% growth in Commercial Banking is driven by a strong loan portfolio expansion, fueled by a robust economy and increased demand for commercial real estate loans. Additionally, strategic investments in digital banking platforms and a focus on customer relationships have contributed to deposit growth and improved operating efficiency.
Independent Bank Corporation Products
| Product Range | What is it ? |
|---|---|
| Personal Banking | Independent Bank Corporation offers a range of personal banking services, including checking and savings accounts, credit cards, loans, and investment services. |
| Business Banking | The company provides business banking services, including commercial loans, cash management, and treasury management solutions, to help businesses grow and succeed. |
| Mortgage Lending | Independent Bank Corporation offers a range of mortgage lending products, including fixed-rate and adjustable-rate mortgages, to help individuals and families achieve homeownership. |
| Wealth Management | The company provides wealth management services, including investment management, trust services, and financial planning, to help individuals and families achieve their long-term financial goals. |
| Insurance Services | Independent Bank Corporation offers insurance services, including life insurance, disability insurance, and long-term care insurance, to help individuals and families protect their financial well-being. |
Independent Bank Corporation's Porter Forces
Threat Of Substitutes
Independent Bank Corporation operates in a highly competitive market with many substitutes, but its strong brand and customer loyalty mitigate the threat.
Bargaining Power Of Customers
Independent Bank Corporation's customers have significant bargaining power due to the availability of alternative banking services and the ease of switching banks.
Bargaining Power Of Suppliers
Independent Bank Corporation has a diverse supplier base, and its suppliers have limited bargaining power due to the availability of alternative suppliers.
Threat Of New Entrants
While there are barriers to entry in the banking industry, new entrants can still pose a threat to Independent Bank Corporation, particularly from fintech companies and digital banks.
Intensity Of Rivalry
Independent Bank Corporation operates in a highly competitive market with many established players, leading to intense rivalry and competition for market share.
Capital Structure
| Value | |
|---|---|
| Debt Weight | 24.38% |
| Debt Cost | 7.68% |
| Equity Weight | 75.62% |
| Equity Cost | 8.79% |
| WACC | 8.52% |
| Leverage | 32.24% |
Independent Bank Corporation : Quality Control
Independent Bank Corporation passed 4 out of 9 key points:
Historical Valuation
Price/Earnings Ratio
Margin Valuation
Peers Valuation
Competitors
| Company | Rational |
|---|---|
| PEBK | Peoples Bancorp of North Carolina, Inc. operates as the bank holding company for Peoples Bank that provides various commercial and consumer banking products and services to individuals and small to … |
| ORRF | Orrstown Financial Services, Inc. operates as the holding company for Orrstown Bank that provides commercial banking and trust services in the United States. The company accepts various deposits, including checking, … |
| OFG | OFG Bancorp, a financial holding company, provides a range of banking and financial services. It operates through three segments: Banking, Wealth Management, and Treasury. The company offers checking and savings … |
| CHMG | Chemung Financial Corporation operates as the holding company for Chemung Canal Trust Company that provides a range of banking, financing, fiduciary, and other financial services. The company provides demand, savings, … |
| THFF | First Financial Corporation, through its subsidiaries, provides various financial services. It offers non-interest-bearing demand, interest-bearing demand, savings, time, and other time deposits. The company also provides commercial loans primarily to … |
Peers Metrics
DCF BETA
Expected Cash-Flows
Scoring Insights
Peers Group Analysis
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First Financial
A-Score
1-Year Total Return ->
🥈
Peoples Bancorp of North Carolina
A-Score
1-Year Total Return ->
🥉
Independent Bank
A-Score
1-Year Total Return ->
4
Oriental
A-Score
1-Year Total Return ->
5
Orrstown Financial Services
A-Score
1-Year Total Return ->
6
