Independent Bank Corporation (Ionia, MI) (NASDAQ: IBCP) is -13.52% 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 $29.88 in the last trading session, with the day’s gains setting it 0.24%.
Currently trading at $30.12, the stock is 0.42% and -5.62% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 0.13 million and changing 0.80% at the moment leaves the stock -10.02% off its SMA200. IBCP registered 29.55% gain for a year compared to 6-month loss of -11.72%. The firm has a 50-day simple moving average (SMA 50) of $31.9152 and a 200-day simple moving average (SMA200) of $33.47275.
The stock witnessed a -3.98% gain in the last 1 month and extending the period to 3 months gives it a -13.62%, and is 4.51% 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 4.03% over the week and 3.72% over the month.
Independent Bank Corporation (Ionia, MI) (IBCP) has around 834 employees, a market worth around $631.70M and $320.36M in sales. Current P/E ratio is 9.52 and Fwd P/E is 8.95. Profit margin for the company is 20.85%. Distance from 52-week low is 33.69% and -25.30% from its 52-week high. The company has generated returns on investments over the last 12 months (11.43%).
The EPS is expected to grow by 4.93% this year
246.0 institutions hold shares in Independent Bank Corporation (Ionia, MI) (IBCP), with institutional investors hold 90.41% of the company’s shares. The shares outstanding are 20.90M, and float is at 20.01M with Short Float at 1.01%. Institutions hold 86.06% 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 14.1785 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 5.8024 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
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).
