Independent Bank Corporation (Ionia, MI) (NASDAQ: IBCP) is -1.18% lower on its value in year-to-date trading and has touched a low of $22.53 and a high of $40.32 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The IBCP stock was last observed hovering at around $34.87 in the last trading session, with the day’s loss setting it -0.45%.
Currently trading at $34.42, the stock is -0.18% and -5.48% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 0.21 million and changing -1.29% at the moment leaves the stock 10.92% off its SMA200. IBCP registered 37.96% gain for a year compared to 6-month gain of 9.51%. The firm has a 50-day simple moving average (SMA 50) of $36.417 and a 200-day simple moving average (SMA200) of $31.03125.
The stock witnessed a -9.64% loss in the last 1 month and extending the period to 3 months gives it a -0.98%, and is 5.10% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 3.02% over the week and 3.37% over the month.
Independent Bank Corporation (Ionia, MI) (IBCP) has around 832 employees, a market worth around $719.17M and $309.05M in sales. Current P/E ratio is 11.69 and Fwd P/E is 11.32. Profit margin for the company is 20.08%. Distance from 52-week low is 52.77% and -14.63% from its 52-week high. The company has generated returns on investments over the last 12 months (11.54%).
with sales reaching $46.95M over the same period.The EPS is expected to shrink by 0.00% this year, but quarterly earnings will post 17.06% year-over-year. Quarterly sales are estimated to grow 17.05% in year-over-year returns.
Independent Bank Corporation (Ionia, MI) (IBCP) Top Institutional Holders
230.0 institutions hold shares in Independent Bank Corporation (Ionia, MI) (IBCP), with institutional investors hold 90.81% of the company’s shares. The shares outstanding are 20.89M, and float is at 19.95M with Short Float at 0.44%. Institutions hold 86.63% of the Float.
The top institutional shareholder in the company is BLACKROCK INC. with over 2.96 million shares valued at $80.02 million. The investor’s holdings represent 14.1954% of the IBCP Shares outstanding. As of 2024-06-30, the second largest holder is FJ CAPITAL MANAGEMENT LLC with 1.21 million shares valued at $32.75 million to account for 5.8093 of the shares outstanding. The other top investors are VANGUARD GROUP INC which holds 1.07 million shares representing 5.1021% and valued at over $28.76 million, while DIMENSIONAL FUND ADVISORS LP holds 4.7199 of the shares totaling 0.99 million with a market value of $26.6 million.
Independent Bank Corporation (Ionia, MI) (IBCP) Insider Activity
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Independent Bank Corporation (Ionia, MI) disclosed in a document filed with the SEC on Dec 03 ’24 that Ervin Patrick J (Executive Vice President) bought a total of 275 shares of the company’s common stock. The trade occurred on Dec 03 ’24 and was made at $37.94 per share for $10433.0. Following the transaction, the insider now directly holds 34813.0 shares of the IBCP stock.
Still, SEC filings show that on Nov 25 ’24, Daniel Larry R Jr (Executive Vice President) disposed off 3,851 shares at an average price of $39.15 for $0.15 million. The insider now directly holds 20,784 shares of Independent Bank Corporation (Ionia, MI) (IBCP).
