Press coverage about Independent Bank Corporation (NASDAQ:IBCP) has trended positive recently, Accern Sentiment reports. Accern ranks the sentiment of media coverage by monitoring more than 20 million blog and news sources. Accern ranks coverage of public companies on a scale of negative one to one, with scores closest to one being the most favorable. Independent Bank Corporation earned a news sentiment score of 0.33 on Accern’s scale. Accern also gave media coverage about the financial services provider an impact score of 46.1491111541341 out of 100, meaning that recent media coverage is somewhat unlikely to have an effect on the stock’s share price in the near term.

Independent Bank Corporation (IBCP) traded down 1.69% during midday trading on Friday, reaching $20.40. The company’s stock had a trading volume of 60,396 shares. The firm has a market cap of $435.25 million, a P/E ratio of 18.20 and a beta of 0.48. The firm has a 50 day moving average price of $21.16 and a 200-day moving average price of $21.14. Independent Bank Corporation has a 52 week low of $15.80 and a 52 week high of $23.65.

Independent Bank Corporation (NASDAQ:IBCP) last announced its earnings results on Thursday, July 27th. The financial services provider reported $0.27 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.29 by $0.02. Independent Bank Corporation had a return on equity of 9.48% and a net margin of 17.68%. The business had revenue of $31.94 million for the quarter, compared to the consensus estimate of $32.55 million. On average, analysts forecast that Independent Bank Corporation will post $1.22 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 15th. Stockholders of record on Monday, August 7th will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, August 3rd. This represents a $0.40 annualized dividend and a dividend yield of 1.96%. Independent Bank Corporation’s dividend payout ratio is presently 35.71%.

A number of research firms have recently commented on IBCP. BidaskClub lowered Independent Bank Corporation from a “sell” rating to a “strong sell” rating in a research note on Monday, July 31st. Zacks Investment Research downgraded Independent Bank Corporation from a “buy” rating to a “hold” rating in a research report on Saturday, June 10th. DA Davidson assumed coverage on Independent Bank Corporation in a research report on Wednesday, July 5th. They set a “neutral” rating and a $23.00 target price on the stock. Boenning Scattergood reissued a “hold” rating on shares of Independent Bank Corporation in a research report on Thursday, July 27th. Finally, ValuEngine raised Independent Bank Corporation from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $21.17.

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About Independent Bank Corporation

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.

Insider Buying and Selling by Quarter for Independent Bank Corporation (NASDAQ:IBCP)

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