What is DA Davidson’s Estimate for IBCP Q1 Earnings?

Independent Bank Co. (NASDAQ:IBCP) – Analysts at DA Davidson issued their Q1 2025 earnings estimates for shares of Independent Bank in a note issued to investors on Tuesday, January 28th. DA Davidson analyst P. Winter expects that the financial services provider will earn $0.72 per share for the quarter. DA Davidson has a “Neutral” rating and a $39.00 price objective on the stock. The consensus estimate for Independent Bank’s current full-year earnings is $3.04 per share.

Separately, Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $41.00 target price (up previously from $39.00) on shares of Independent Bank in a research report on Friday, January 24th.

Independent Bank Price Performance

Shares of IBCP opened at $36.25 on Wednesday. Independent Bank has a one year low of $22.53 and a one year high of $40.32. The stock’s fifty day moving average is $35.98 and its 200-day moving average is $34.36. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.88 and a current ratio of 0.88. The firm has a market capitalization of $757.26 million, a price-to-earnings ratio of 12.33 and a beta of 1.03.

Independent Bank (NASDAQ:IBCP) last issued its quarterly earnings data on Thursday, January 23rd. The financial services provider reported $0.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.77 by $0.10. Independent Bank had a return on equity of 15.26% and a net margin of 19.93%.

Independent Bank Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Tuesday, February 4th will be paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.87%. The ex-dividend date of this dividend is Tuesday, February 4th. This is an increase from Independent Bank’s previous quarterly dividend of $0.24. Independent Bank’s payout ratio is currently 32.65%.

Insider Activity

In other Independent Bank news, EVP Gavin A. Mohr bought 800 shares of the company’s stock in a transaction that occurred on Wednesday, November 20th. The shares were acquired at an average cost of $36.71 per share, for a total transaction of $29,368.00. Following the acquisition, the executive vice president now directly owns 18,662 shares of the company’s stock, valued at $685,082.02. This trade represents a 4.48 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. Insiders own 5.45% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in IBCP. Dimensional Fund Advisors LP boosted its stake in shares of Independent Bank by 1.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 985,364 shares of the financial services provider’s stock worth $26,603,000 after acquiring an additional 10,193 shares in the last quarter. Sei Investments Co. boosted its position in shares of Independent Bank by 21.4% in the 2nd quarter. Sei Investments Co. now owns 16,624 shares of the financial services provider’s stock valued at $449,000 after purchasing an additional 2,928 shares during the period. AQR Capital Management LLC boosted its position in shares of Independent Bank by 75.8% in the 2nd quarter. AQR Capital Management LLC now owns 174,011 shares of the financial services provider’s stock valued at $4,698,000 after purchasing an additional 75,022 shares during the period. Creative Planning increased its stake in Independent Bank by 5.4% in the 2nd quarter. Creative Planning now owns 43,174 shares of the financial services provider’s stock worth $1,166,000 after purchasing an additional 2,209 shares in the last quarter. Finally, Truist Financial Corp raised its holdings in Independent Bank by 8.4% during the 2nd quarter. Truist Financial Corp now owns 14,181 shares of the financial services provider’s stock worth $383,000 after buying an additional 1,100 shares during the period. Institutional investors and hedge funds own 79.43% of the company’s stock.

About Independent Bank

Independent Bank Corporation operates as the bank holding company for Independent Bank that provides commercial banking services to individuals and businesses in rural and suburban communities in Michigan. It offers checking and savings accounts, commercial lending, direct and indirect consumer financing, mortgage lending, and safe deposit box services.