Press coverage about Independent Bank Corporation (NASDAQ:IBCP) has trended somewhat positive on Tuesday, according to Accern Sentiment. The research group ranks the sentiment of media coverage by monitoring more than twenty million blog and news sources in real-time. Accern ranks coverage of publicly-traded companies on a scale of -1 to 1, with scores closest to one being the most favorable. Independent Bank Corporation earned a daily sentiment score of 0.23 on Accern’s scale. Accern also assigned news stories about the financial services provider an impact score of 46.0255887524598 out of 100, indicating that recent media coverage is somewhat unlikely to have an effect on the company’s share price in the immediate future.

Independent Bank Corporation (IBCP) traded up 2.00% during trading on Tuesday, reaching $20.40. The company’s stock had a trading volume of 71,844 shares. The stock has a 50 day moving average price of $20.64 and a 200 day moving average price of $21.01. Independent Bank Corporation has a 1-year low of $15.90 and a 1-year high of $23.65. The stock has a market capitalization of $435.25 million, a PE ratio of 18.20 and a beta of 0.52.

Independent Bank Corporation (NASDAQ:IBCP) last posted its quarterly earnings results on Thursday, July 27th. The financial services provider reported $0.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.02). The company had revenue of $31.94 million during the quarter, compared to analyst estimates of $32.55 million. Independent Bank Corporation had a net margin of 17.68% and a return on equity of 9.48%. Analysts anticipate that Independent Bank Corporation will post $1.22 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 15th. Shareholders of record on Monday, August 7th were given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 2.00%. The ex-dividend date was Thursday, August 3rd. Independent Bank Corporation’s dividend payout ratio is currently 35.71%.

Several analysts recently weighed in on the company. BidaskClub downgraded Independent Bank Corporation from a “hold” rating to a “sell” rating in a report on Wednesday, July 19th. Zacks Investment Research downgraded Independent Bank Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, May 30th. ValuEngine upgraded Independent Bank Corporation from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. DA Davidson started coverage on Independent Bank Corporation in a research note on Wednesday, July 5th. They issued a “neutral” rating and a $23.00 target price on the stock. Finally, Boenning Scattergood reiterated a “hold” rating on shares of Independent Bank Corporation in a research note on Thursday, July 27th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus 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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