DA Davidson Projects Independent Bank Co.'s Earnings for FY2025

Analysts at DA Davidson have provided their earnings per share (EPS) predictions for Independent Bank Co. (NASDAQ:IBCP) for the fiscal year 2025. In a communication to investors dated January 30th, DA Davidson's P. Winter forecasts the financial services provider to post earnings of $3.04 per share for the year. This figure is above the consensus estimates of $2.89 per share for Independent Bank's current full-year earnings.

Market Analyst Coverage and Performance

Separate from DA Davidson's report, StockNews.com initiated coverage on Independent Bank, giving the stock a "hold" rating on October 5th. In trading news, shares of Independent Bank experienced a slight decrease of 1.0%, opening at $25.18. The firm holds a market capitalization of $524.75 million and shows a price-to-earnings (P/E) ratio of 9.03. The quick ratio is reported at 0.84, with a current ratio of 0.85, and a debt-to-equity ratio of 0.34. Independent Bank's shares have seen a fifty-day simple moving average of $24.84 and a two-hundred-day simple moving average of $21.34, with a twelve-month low of $14.90 and a high of $27.39.

Dividend Increase Announced

Continuing its shareholder-friendly actions, Independent Bank has announced an increase in its quarterly dividend. The new dividend of $0.24 per share is scheduled for payment on February 15th to stockholders on record as of February 5th. This rate is up from the previous dividend of $0.23 and will result in an annualized dividend of $0.96, with a yield of 3.81%. The stock's ex-dividend date is February 2nd, and the dividend payout ratio (DPR) currently stands at 32.98%.

Institutional Investment Activity

Institutional investors and hedge funds have shown active interest in Independent Bank. Tower Research Capital LLC TRC has increased its holding by 198.9%, with Lazard Asset Management LLC initiating a new stake. Fifth Third Bancorp has expanded its position by 524.2%, while Advisor Group Holdings Inc. saw a 113.4% increase. Wells Fargo & Company MN boosted their holdings by 65.8%. Collectively, these institutional investments and adjustments reflect a 78.80% ownership by hedge funds and other institutional investors in the stock of Independent Bank.

About Independent Bank Corporation

Independent Bank Corporation serves as a commercial banking entity, catering to individuals and small businesses across rural and suburban areas of Lower Michigan. The services provided include not only traditional banking offerings such as checking and savings accounts but also commercial lending, mortgage lending, and other consumer financing options, along with secure safe deposit box services.

Considerations for Investors

With DA Davidson providing optimistic earnings projections and the stock maintaining a healthy dividend yield, Independent Bank Co. stands as a noteworthy financial player in Michigan's banking scene. Investors and market watchers will be keeping a close eye on its performance as the fiscal year 2025 approaches.

Independent, Bank, Earnings