Keefe Bruyette downgraded Independent Bank from Outperform to Mkt Perform and set a new price target of $26.00
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| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 3/4/2024 | Market Perform | Hovde Group | |
| 12/13/2022 | $26.00 | Outperform → Mkt Perform | Keefe Bruyette |
4 - INDEPENDENT BANK CORP /MI/ (0000039311) (Issuer)
4 - INDEPENDENT BANK CORP /MI/ (0000039311) (Issuer)
4 - INDEPENDENT BANK CORP /MI/ (0000039311) (Issuer)
Independent Bank (NASDAQ:IBCP) reported quarterly earnings of $0.88 per share which beat the analyst consensus estimate of $0.70 by 25.71 percent. This is a 25.71 percent increase over earnings of $0.70 per share from the same period last year. The company reported quarterly sales of $41.35 million which beat the analyst consensus estimate of $41.10 million by 0.60 percent. This is a 7.81 percent increase over sales of $38.35 million the same period last year.
DA Davidson analyst Peter Winter maintains Independent Bank (NASDAQ:IBCP) with a Neutral and maintains $28 price target.
Independent Bank (NASDAQ:IBCP) reported quarterly earnings of $0.76 per share which beat the analyst consensus estimate of $0.64 by 18.75 percent. This is a 24.59 percent increase over earnings of $0.61 per share from the same period last year. The company reported quarterly sales of $40.197 million which missed the analyst consensus estimate of $40.279 million by 0.20 percent. This is a 4.57 percent increase over sales of $38.441 million the same period last year.
Third Quarter Highlights Highlights for the third quarter of 2024 include: Increases in net interest income of $0.5 million (or 4.9% annualized) from June 30, 2024;An increase in tangible book value per share of $3.69 (22.3%) over the third quarter of 2023;Net growth in core deposits of $100.1 million (or 8.9% annualized) from June 30, 2024;Net growth in loans of $90.4 million (or 9.3% annualized) from June 30, 2024; andThe payment of a 24 cent per share dividend on common stock on August 15, 2024. GRAND RAPIDS, Mich., Oct. 24, 2024 (GLOBE NEWSWIRE) -- Independent Bank Corporation (NASDAQ:IBCP) reported third quarter 2024 net income of $13.8 million, or $0.65 per diluted share, versus n
Leading bank leverages the power of generative integration to build dozens of GenAI Agents SnapLogic, the leader in generative integration, today announced that Independent Bank Corporation (NASDAQ:IBCP), a Michigan-based community bank, is utilizing the SnapLogic Platform for Generative Integration to continue to modernize its systems and streamline IT resources, enabling the company to build game changing GenAI applications. With SnapLogic, Independent Bank has built GenAI Agents to assist workers with completing their tasks more efficiently, created new automated processes for possible fraud detection, and transitioned IT technologies to provide customers with enhanced services. Indepe
Customers using Agent Creator to design, deploy, and manage AI agents that automate tasks, make real-time decisions, and integrate effortlessly into existing workflows SnapLogic, the leader in generative integration, today announced SnapLogic Agent Creator, a powerful new system empowering enterprises to build LLM-powered agents, assistants and applications that augment human capabilities and integrate AI into any integration workflow or data pipeline. By combining dynamic iteration with real-time generative decision-making, SnapLogic Agent Creator builds a symbiotic relationship between the people on the front lines of the business, your IT team and executives, via powerful AI at anyone's
SC 13G - INDEPENDENT BANK CORP /MI/ (0000039311) (Subject)
SC 13G/A - INDEPENDENT BANK CORP /MI/ (0000039311) (Subject)
SC 13G/A - INDEPENDENT BANK CORP /MI/ (0000039311) (Subject)
GRAND RAPIDS, Mich., April 23, 2024 (GLOBE NEWSWIRE) -- Independent Bank Corporation (NASDAQ:IBCP), the holding company of Independent Bank, a Michigan-based community bank, announced that its Board of Directors appointed Stephen L. Gulis, Jr. as Chairperson to the Boards of the Corporation and the Bank. Mr. Gulis succeeds Mr. Michael M. Magee who served as Chairperson of the Corporation and the Bank since January 1, 2013. Mr. Gulis became a Director of the Boards of Independent Bank Corporation and Independent Bank in 2004. He retired in 2008 as the Executive Vice President and President of Wolverine Worldwide Global Operations Group. He served as Executive Vice President, CFO, and Treasu
Third Quarter Highlights Highlights for the third quarter of 2024 include: Increases in net interest income of $0.5 million (or 4.9% annualized) from June 30, 2024;An increase in tangible book value per share of $3.69 (22.3%) over the third quarter of 2023;Net growth in core deposits of $100.1 million (or 8.9% annualized) from June 30, 2024;Net growth in loans of $90.4 million (or 9.3% annualized) from June 30, 2024; andThe payment of a 24 cent per share dividend on common stock on August 15, 2024. GRAND RAPIDS, Mich., Oct. 24, 2024 (GLOBE NEWSWIRE) -- Independent Bank Corporation (NASDAQ:IBCP) reported third quarter 2024 net income of $13.8 million, or $0.65 per diluted share, versus n
GRAND RAPIDS, Mich., Oct. 22, 2024 (GLOBE NEWSWIRE) -- Independent Bank Corporation (NASDAQ:IBCP), the holding company of Independent Bank, a Michigan-based community bank, announced that today its Board of Directors declared a quarterly cash dividend on its common stock of 24 cents per share. This dividend is payable on November 15, 2024 to shareholders of record on November 5, 2024. About Independent Bank Corporation Independent Bank Corporation (NASDAQ:IBCP) is a Michigan-based bank holding company with total assets of approximately $5.3 billion. Founded as First National Bank of Ionia in 1864, Independent Bank Corporation operates a branch network across Michigan's Lower Peninsula th
GRAND RAPIDS, Mich., Sept. 23, 2024 (GLOBE NEWSWIRE) -- Independent Bank Corporation (NASDAQ:IBCP), the holding company of Independent Bank, a Michigan-based community bank, announced that it expects to issue its 2024 third quarter results on Thursday, October 24, 2024, at approximately 8:00 am ET. The release will be available on the Internet at IndependentBank.com within the "News" section of the "Investor Relations" area of the Company's website. Brad Kessel, President and CEO, Gavin Mohr, CFO and Joel Rahn, EVP Commercial Banking will review the quarterly results in a conference call for investors and analysts beginning at 11:00 am ET on Thursday, October 24, 2024. To participate
10-Q - INDEPENDENT BANK CORP /MI/ (0000039311) (Filer)
8-K - INDEPENDENT BANK CORP /MI/ (0000039311) (Filer)
10-Q - INDEPENDENT BANK CORP /MI/ (0000039311) (Filer)
Hovde Group resumed coverage of Independent Bank with a rating of Market Perform
Keefe Bruyette downgraded Independent Bank from Outperform to Mkt Perform and set a new price target of $26.00