(IBCP) Independent Bank - Overview
Stock: Deposits, Loans, Investment, Insurance, Digital Banking
EPS (Earnings per Share)
Revenue
Dividends
| Dividend Yield | 4.04% |
| Yield on Cost 5y | 6.31% |
| Yield CAGR 5y | 5.48% |
| Payout Consistency | 80.7% |
| Payout Ratio | 32.3% |
| Risk 5d forecast | |
|---|---|
| Volatility | 29.6% |
| Relative Tail Risk | -9.92% |
| Reward TTM | |
|---|---|
| Sharpe Ratio | 0.06 |
| Alpha | -7.53 |
| Character TTM | |
|---|---|
| Beta | 0.669 |
| Beta Downside | 0.738 |
| Drawdowns 3y | |
|---|---|
| Max DD | 31.56% |
| CAGR/Max DD | 0.70 |
Description: IBCP Independent Bank December 26, 2025
Independent Bank Corporation (NASDAQ: IBCP) is a Michigan-based bank holding company that operates Independent Bank, offering a full suite of retail banking products-including demand deposits, interest-bearing checking, money-market and savings accounts, and CDs-as well as consumer loan products such as residential mortgages, home-equity lines, and other unsecured loans. The firm also provides cash-management, investment-management, trust, estate-settlement, tax-planning services, and a range of brokerage and insurance products, complemented by digital banking channels, ATMs, debit/credit cards, and safe-deposit boxes.
Key recent metrics (Q3 2024): total assets of roughly $1.5 billion, loan portfolio at $950 million with a 4 % year-over-year deposit growth rate, net interest margin (NIM) of 3.1 % and a Common Equity Tier 1 (CET1) capital ratio of 12.5 %. The regional-bank sector remains highly sensitive to Federal Reserve policy; higher policy rates lift NIM but also increase credit-risk exposure on residential mortgages, while the Midwest housing market’s modest price appreciation supports loan-originations but could tighten underwriting standards if rates stay elevated.
For a deeper quantitative view of IBCP’s valuation dynamics, the ValueRay platform offers a granular breakdown of its discounted cash-flow assumptions and comparable peer metrics.
Piotroski VR‑10 (Strict, 0-10) 3.5
| Net Income: 68.5m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.01 > 0.02 and ΔFCF/TA 0.29 > 1.0 |
| NWC/Revenue: -143.3% < 20% (prev -1425 %; Δ 1281 % < -1%) |
| CFO/TA 0.02 > 3% & CFO 85.2m > Net Income 68.5m |
| Net Debt (64.6m) to EBITDA (88.8m): 0.73 < 3 |
| Current Ratio: 0.55 > 1.5 & < 3 |
| Outstanding Shares: last quarter (20.8m) vs 12m ago -1.29% < -2% |
| Gross Margin: 69.13% > 18% (prev 0.67%; Δ 6846 % > 0.5%) |
| Asset Turnover: 5.71% > 50% (prev 5.93%; Δ -0.21% > 0%) |
| Interest Coverage Ratio: 0.68 > 6 (EBITDA TTM 88.8m / Interest Expense TTM 89.7m) |
Altman Z'' -0.20
| A: -0.08 (Total Current Assets 548.1m - Total Current Liabilities 992.0m) / Total Assets 5.51b |
| B: 0.05 (Retained Earnings 252.8m / Total Assets 5.51b) |
| C: 0.01 (EBIT TTM 61.0m / Avg Total Assets 5.42b) |
| D: 0.10 (Book Value of Equity 503.0m / Total Liabilities 5.00b) |
| Altman-Z'' Score: -0.20 = B |
What is the price of IBCP shares?
Over the past week, the price has changed by +1.50%, over one month by +10.04%, over three months by +18.56% and over the past year by +5.08%.
Is IBCP a buy, sell or hold?
- StrongBuy: 0
- Buy: 0
- Hold: 5
- Sell: 0
- StrongSell: 0
What are the forecasts/targets for the IBCP price?
| Issuer | Target | Up/Down from current |
|---|---|---|
| Wallstreet Target Price | 37.5 | 2.5% |
| Analysts Target Price | 37.5 | 2.5% |
| ValueRay Target Price | 42.6 | 16.5% |
IBCP Fundamental Data Overview February 09, 2026
P/E Forward = 12.0482
P/S = 3.4499
P/B = 1.4954
P/EG = 2.33
Revenue TTM = 309.8m USD
EBIT TTM = 61.0m USD
EBITDA TTM = 88.8m USD
Long Term Debt = 41.9m USD (from longTermDebt, two quarters ago)
Short Term Debt = 343.0k USD (from shortTermDebt, two quarters ago)
Debt = 116.9m USD (from shortLongTermDebtTotal, last quarter)
Net Debt = 64.6m USD (from netDebt column, last quarter)
Enterprise Value = 326.0m USD (757.3m + Debt 116.9m - CCE 548.1m)
Interest Coverage Ratio = 0.68 (Ebit TTM 61.0m / Interest Expense TTM 89.7m)
EV/FCF = 4.28x (Enterprise Value 326.0m / FCF TTM 76.2m)
FCF Yield = 23.36% (FCF TTM 76.2m / Enterprise Value 326.0m)
FCF Margin = 24.58% (FCF TTM 76.2m / Revenue TTM 309.8m)
Net Margin = 22.12% (Net Income TTM 68.5m / Revenue TTM 309.8m)
Gross Margin = 69.13% ((Revenue TTM 309.8m - Cost of Revenue TTM 95.6m) / Revenue TTM)
Gross Margin QoQ = 71.03% (prev 67.36%)
Tobins Q-Ratio = 0.06 (Enterprise Value 326.0m / Total Assets 5.51b)
Interest Expense / Debt = 18.03% (Interest Expense 21.1m / Debt 116.9m)
Taxrate = 8.56% (1.74m / 20.3m)
NOPAT = 55.8m (EBIT 61.0m * (1 - 8.56%))
Current Ratio = 0.55 (Total Current Assets 548.1m / Total Current Liabilities 992.0m)
Debt / Equity = 0.23 (Debt 116.9m / totalStockholderEquity, last quarter 503.0m)
Debt / EBITDA = 0.73 (Net Debt 64.6m / EBITDA 88.8m)
Debt / FCF = 0.85 (Net Debt 64.6m / FCF TTM 76.2m)
Total Stockholder Equity = 482.6m (last 4 quarters mean from totalStockholderEquity)
RoA = 1.26% (Net Income 68.5m / Total Assets 5.51b)
RoE = 14.20% (Net Income TTM 68.5m / Total Stockholder Equity 482.6m)
RoCE = 11.63% (EBIT 61.0m / Capital Employed (Equity 482.6m + L.T.Debt 41.9m))
RoIC = 9.42% (NOPAT 55.8m / Invested Capital 591.7m)
WACC = 9.46% (E(757.3m)/V(874.2m) * Re(8.38%) + D(116.9m)/V(874.2m) * Rd(18.03%) * (1-Tc(0.09)))
Discount Rate = 8.38% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: -33.33 | Cagr: -0.48%
[DCF Debug] Terminal Value 71.07% ; FCFF base≈69.0m ; Y1≈62.3m ; Y5≈53.9m
Fair Price DCF = 33.67 (EV 756.6m - Net Debt 64.6m = Equity 691.9m / Shares 20.5m; r=9.46% [WACC]; 5y FCF grow -11.93% → 2.90% )
EPS Correlation: 41.89 | EPS CAGR: 1.55% | SUE: 0.63 | # QB: 0
Revenue Correlation: 85.94 | Revenue CAGR: 11.87% | SUE: 2.71 | # QB: 1
EPS next Quarter (2026-03-31): EPS=0.79 | Chg30d=-0.005 | Revisions Net=-1 | Analysts=4
EPS current Year (2026-12-31): EPS=3.48 | Chg30d=+0.079 | Revisions Net=+3 | Growth EPS=+6.3% | Growth Revenue=+17.9%
EPS next Year (2027-12-31): EPS=3.66 | Chg30d=+0.050 | Revisions Net=+2 | Growth EPS=+5.3% | Growth Revenue=+5.5%