Somewhat Favorable News Coverage Somewhat Unlikely to Affect Independent Bank Co.(MI) (NASDAQ:IBCP) Stock Price

Press coverage about Independent Bank Co.(MI) (NASDAQ:IBCP) has been trending somewhat positive on Monday, according to Accern. Accern identifies negative and positive news coverage by monitoring more than twenty million blog and news sources in real-time. Accern ranks coverage of public companies on a scale of negative one to one, with scores nearest to one being the most favorable. Independent Bank Co.(MI) earned a media sentiment score of 0.23 on Accern’s scale. Accern also gave media headlines about the financial services provider an impact score of 46.048491425155 out of 100, meaning that recent news coverage is somewhat unlikely to have an effect on the stock’s share price in the next few days.

Here are some of the news stories that may have effected Accern Sentiment Analysis’s rankings:

A number of equities research analysts have weighed in on the company. Boenning Scattergood reaffirmed a “hold” rating on shares of Independent Bank Co.(MI) in a report on Friday, October 27th. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $22.00 price target on shares of Independent Bank Co.(MI) in a research report on Wednesday, October 4th. Finally, Zacks Investment Research upgraded shares of Independent Bank Co.(MI) from a “hold” rating to a “buy” rating and set a $23.00 price target for the company in a research report on Wednesday, September 27th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $22.67.

Shares of Independent Bank Co (NASDAQ:IBCP) traded up $0.25 during trading on Monday, hitting $22.55. The company had a trading volume of 64,842 shares, compared to its average volume of 71,240. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.86 and a quick ratio of 0.84. Independent Bank Co has a 1 year low of $18.50 and a 1 year high of $23.65. The firm has a market cap of $475.70, a P/E ratio of 19.56, a P/E/G ratio of 2.32 and a beta of 0.70.

Independent Bank Co.(MI) (NASDAQ:IBCP) last released its earnings results on Thursday, October 26th. The financial services provider reported $0.32 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.33 by ($0.01). The firm had revenue of $33.22 million during the quarter, compared to analysts’ expectations of $33.36 million. Independent Bank Co.(MI) had a return on equity of 9.52% and a net margin of 17.75%. equities research analysts expect that Independent Bank Co will post 1.2 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 15th. Shareholders of record on Monday, November 6th were paid a $0.12 dividend. This is a boost from Independent Bank Co.(MI)’s previous quarterly dividend of $0.10. This represents a $0.48 annualized dividend and a yield of 2.13%. The ex-dividend date was Friday, November 3rd. Independent Bank Co.(MI)’s payout ratio is presently 42.11%.

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Independent Bank Co.(MI) Company Profile

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.

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