Earnings results for Independent Bank (NASDAQ:IBCP)
Independent Bank Corporation is expected* to report earnings on 04/27/2021 before market open. The report will be for the fiscal Quarter ending Mar 2021. According to Zacks Investment Research, based on 3 analysts’ forecasts, the consensus EPS forecast for the quarter is $0.57. The reported EPS for the same quarter last year was $0.21.
Independent Bank last released its earnings data on January 27th, 2021. The financial services provider reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.15. The firm earned $53.36 million during the quarter, compared to analyst estimates of $50.40 million. Independent Bank has generated $2.00 earnings per share over the last year and currently has a price-to-earnings ratio of 9.7. Independent Bank has confirmed that its next quarterly earnings report will be published on Tuesday, April 27th, 2021.
Analyst Opinion on Independent Bank (NASDAQ:IBCP)
2 Wall Street analysts have issued ratings and price targets for Independent Bank in the last 12 months. Their average twelve-month price target is $15.00, predicting that the stock has a possible downside of 34.87%. The high price target for IBCP is $15.00 and the low price target for IBCP is $15.00. There are currently 1 hold rating and 1 buy rating for the stock, resulting in a consensus rating of “Buy.”
Independent Bank has received a consensus rating of Buy. The company’s average rating score is 2.50, and is based on 1 buy rating, 1 hold rating, and no sell ratings. According to analysts’ consensus price target of $15.00, Independent Bank has a forecasted downside of 34.9% from its current price of $23.03. Independent Bank has received no research coverage in the past 90 days.
Dividend Strength: Independent Bank (NASDAQ:IBCP)
Independent Bank pays a meaningful dividend of 3.62%, higher than the bottom 25% of all stocks that pay dividends. Independent Bank has only been increasing its dividend for 1 years. The dividend payout ratio of Independent Bank is 42.00%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, Independent Bank will have a dividend payout ratio of 45.16% next year. This indicates that Independent Bank will be able to sustain or increase its dividend.
Insiders buying/selling: Independent Bank (NASDAQ:IBCP)
In the past three months, Independent Bank insiders have bought more of their company’s stock than they have sold. Specifically, they have bought $21,380.00 in company stock and sold $0.00 in company stock. Only 4.44% of the stock of Independent Bank is held by insiders. 77.66% of the stock of Independent Bank is held by institutions. High institutional ownership can be a signal of strong market trust in this company.
Earnings and Valuation of Independent Bank (NASDAQ:IBCP
Earnings for Independent Bank are expected to decrease by -22.50% in the coming year, from $2.40 to $1.86 per share. The P/E ratio of Independent Bank is 9.68, which means that it is trading at a less expensive P/E ratio than the market average P/E ratio of about 24.19. The P/E ratio of Independent Bank is 9.68, which means that it is trading at a less expensive P/E ratio than the Finance sector average P/E ratio of about 23.04. Independent Bank has a P/B Ratio of 1.48. P/B Ratios below 3 indicates that a company is reasonably valued with respect to its assets and liabilities.
More latest stories: here