1 week Ago By Defense World Staff
KLP Kapitalforvaltning AS bought a new stake in shares of Independent Bank Co. ( NASDAQ:IBCP – Free Report ) in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 4,600 shares of the financial services provider’s stock, valued at approximately $160,000.
Several other institutional investors have also recently added to or reduced their stakes in IBCP. National Bank of Canada FI acquired a new position in shares of Independent Bank in the 3rd quarter valued at about $26,000. Quantbot Technologies LP bought a new position in Independent Bank in the fourth quarter worth about $58,000.
Dakota Wealth Management acquired a new position in Independent Bank in the fourth quarter valued at approximately $203,000. Zacks Investment Management bought a new position in shares of Independent Bank during the third quarter valued at approximately $221,000. Finally, Centiva Capital LP acquired a new stake in shares of Independent Bank during the 3rd quarter worth approximately $279,000.
Institutional investors own 79.43% of the company’s stock. Wall Street Analysts Forecast Growth A number of research analysts recently commented on the company.
DA Davidson upped their price objective on Independent Bank from $37.00 to $39.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 28th.
Keefe, Bruyette & Woods restated a “market perform” rating and set a $41.00 price target (up previously from $39.00) on shares of Independent Bank in a research report on Friday, January 24th.
Independent Bank Stock Performance IBCP opened at $28.56 on Wednesday. The company has a current ratio of 0.
88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.18.
The business’s 50 day moving average is $32.70 and its 200-day moving average is $34.28.
The stock has a market cap of $598.99 million, a PE ratio of 9.04 and a beta of 0.
85. Independent Bank Co. has a twelve month low of $22.
53 and a twelve month high of $40.32. Independent Bank ( NASDAQ:IBCP – Get Free Report ) last posted its earnings results on Thursday, January 23rd.
The financial services provider reported $0.87 EPS for the quarter, beating the consensus estimate of $0.77 by $0.
10. Independent Bank had a return on equity of 15.43% and a net margin of 20.
67%. On average, analysts predict that Independent Bank Co. will post 3.
22 earnings per share for the current year. Independent Bank Increases Dividend The business also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Tuesday, February 4th were paid a dividend of $0.
26 per share. This is a boost from Independent Bank’s previous quarterly dividend of $0.24.
This represents a $1.04 dividend on an annualized basis and a dividend yield of 3.64%.
The ex-dividend date was Tuesday, February 4th. Independent Bank’s payout ratio is currently 32.91%.
About Independent Bank ( Free Report ) Independent Bank Corporation operates as the bank holding company for Independent Bank that provides commercial banking services to individuals and businesses in rural and suburban communities in Michigan. It offers checking and savings accounts, commercial lending, direct and indirect consumer financing, mortgage lending, and safe deposit box services. See Also Five stocks we like better than Independent Bank What is diluted earnings per share (Diluted EPS)? Tariff-Proof Stocks: 3 Big Bargains With Huge Upside Potential Stocks with Unusual Volume: How to Find Unusual Volume Stocks in Real Time Qualcomm Breaks Down But RSI Signals It’s Severely Oversold NYSE Stocks Give Investors a Variety of Quality Options Tesla’s #1 Bull Cuts Target But Says It’s Still a Buy Receive News & Ratings for Independent Bank Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Independent Bank and related companies with MarketBeat.
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