NASDAQ:IBCP - Independent Bank Stock Price Target and Predictions

Target and Analyst Ratings
Price Target History
Upgrades and Downgrades
About
FAQ

Consensus Rating: Buy
Consensus Price Target: $15.00
Forecasted Upside: -27.50 %
Number of Analysts: 2
Breakdown:
0 Sell Ratings
1 Hold Ratings
1 Buy Ratings
0 Strong Buy Ratings

^$20.69 As of 08/2/2021 01:00 AM ET

▼ -0.34 (-1.62%)

1 month | 3 months | 12 months

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Analyst Price Target for IBCP

^$15.00

▼ -27.50% Downside Potential

This price target is based on 2 analysts offering 12 month price targets for Independent Bank in the last 3 months. The average price target is $15.00, with a high forecast of $15.00 and a low forecast of $15.00. The average price target represents a -27.50% upside from the last price of $20.69.

Current Consensus is Buy

The current consensus among 2 contributing investment analysts is to buy stock in Independent Bank. This rating has held steady since March 2020, when it changed from a Hold consensus rating.

Past Monthly Recommendations

Move your mouse over past months for details Read Past Recommendations Description Skip Past Price Target Consensus Chart

0 strong buy ratings
1 buy ratings
2 hold ratings
0 sell ratings

Ratings as of

2/9/2020

0 strong buy ratings
2 buy ratings
2 hold ratings
0 sell ratings

Ratings as of

5/9/2020

0 strong buy ratings
3 buy ratings
2 hold ratings
0 sell ratings

Ratings as of

8/7/2020

0 strong buy ratings
3 buy ratings
2 hold ratings
0 sell ratings

Ratings as of

11/5/2020

0 strong buy ratings
2 buy ratings
1 hold ratings
0 sell ratings

Ratings as of

2/3/2021

0 strong buy ratings
1 buy ratings
1 hold ratings
0 sell ratings

Ratings as of

5/4/2021

0 strong buy ratings
1 buy ratings
1 hold ratings
0 sell ratings

Ratings as of

7/3/2021

0 strong buy ratings
1 buy ratings
1 hold ratings
0 sell ratings

Ratings as of

8/2/2021

Latest Recommendations

Show Most Recent Rating from Each Ratings Firm Show All Ratings

Date	Brokerage	Action	Rating	Price Target	Impact on Share Price
10/2/2020	Boenning Scattergood	Reiterated Rating	Neutral		Medium
9/29/2020	Piper Sandler	Lower Price Target	Overweight	$17.50 ➝ $15.00	Low
5/26/2020	Piper Sandler	Reiterated Rating	Buy		High
4/1/2020	Keefe, Bruyette & Woods	Upgrade	Market Perform ➝ Outperform		Low
1/29/2020	Stephens	Upgrade	Buy		Low
1/17/2020	DA Davidson	Downgrade	Buy ➝ Neutral	$26.00 ➝ $24.00	Medium
1/14/2020	Boenning Scattergood	Reiterated Rating	Neutral		Low
11/18/2019	DA Davidson	Reiterated Rating	Buy		Medium
5/2/2019	Boenning Scattergood	Reiterated Rating	Hold		Low
1/31/2019	Boenning Scattergood	Reiterated Rating	Hold		Low
10/26/2018	Boenning Scattergood	Reiterated Rating	Hold		High
10/1/2018	DA Davidson	Upgrade	Neutral ➝ Buy	$27.00	Medium
7/30/2018	Boenning Scattergood	Reiterated Rating	Hold		Low
7/27/2018	Hovde Group	Set Price Target	Hold	$27.00	Low
4/24/2018	Boenning Scattergood	Reiterated Rating	Hold		Medium
4/24/2018	Hovde Group	Set Price Target	Hold	$26.00	Medium
1/31/2018	Boenning Scattergood	Reiterated Rating	Hold		Medium
12/28/2017	Boenning Scattergood	Reiterated Rating	Hold		Low
12/18/2017	Compass Point	Upgrade	Neutral ➝ Buy		High
12/8/2017	Keefe, Bruyette & Woods	Reiterated Rating	Hold	$24.00	Low
12/5/2017	Boenning Scattergood	Reiterated Rating	Hold		Low
10/27/2017	Boenning Scattergood	Reiterated Rating	Hold		N/A
10/4/2017	Keefe, Bruyette & Woods	Reiterated Rating	Hold	$22.00	Low
7/27/2017	Boenning Scattergood	Reiterated Rating	Hold		Low
7/5/2017	DA Davidson	Initiated Coverage	Neutral	$23.00	Medium
9/23/2016	Hovde Group	Initiated Coverage	Market Perform	$17.50	N/A

(Data available from 8/2/2016 forward)

Independent Bank Corporation operates as the bank holding company for Independent Bank that provides various banking services to individuals and businesses. The company offers checking and savings accounts, commercial lending, direct and indirect consumer financing, mortgage lending, and safe deposit box services, as well as automatic teller machine, and Internet and mobile banking services. It also provides title insurance, insurance brokerage, and investment services. The company offers its services through approximately 59 branches, two drive-thru facilities, and nine loan production offices in Michigan; and two loan production offices in Ohio. Independent Bank Corporation was founded in 1864 and is based in Grand Rapids, Michigan.

Today's Range

Now: $20.69

$20.39

$21.67

50 Day Range

MA: $21.72

$19.71

$23.56

52 Week Range

Now: $20.69

$12.14

$24.73

Volume

241,199 shs

Average Volume

107,458 shs

Market Capitalization

$450.73 million

P/E Ratio

6.43

Dividend Yield

3.99%

Beta

1.13

Frequently Asked Questions

What sell-side analysts currently cover shares of Independent Bank?

The following equities research analysts have issued reports on Independent Bank in the last twelve months: Boenning Scattergood, Piper Sandler, TheStreet, and Zacks Investment Research.
View the latest analyst ratings for IBCP.

What is the current price target for Independent Bank?

1 Wall Street analysts have set twelve-month price targets for Independent Bank in the last year. Their average twelve-month price target is $15.00, suggesting a possible downside of 27.5%. Piper Sandler has the highest price target set, predicting IBCP will reach $15.00 in the next twelve months. Piper Sandler has the lowest price target set, forecasting a price of $15.00 for Independent Bank in the next year.
View the latest price targets for IBCP.

What is the current consensus analyst rating for Independent Bank?

Independent Bank currently has 1 hold rating and 1 buy rating from Wall Street analysts. The stock has a consensus analyst rating of "Buy." A "buy" rating indicates that analysts believe IBCP will outperform the market and that investors should add to their positions of Independent Bank.
View the latest ratings for IBCP.

What other companies compete with Independent Bank?

Other companies that are similar to Independent Bank include FB Financial, Eagle Bancorp, Lakeland Financial, Great Western Bancorp, Seacoast Banking Co. of Florida, Veritex, Enterprise Financial Services, First Busey, OFG Bancorp, Customers Bancorp, TriCo Bancshares, Southside Bancshares, S&T Bancorp, First Bancorp and Tompkins Financial.

How do I contact Independent Bank's investor relations team?

Independent Bank's physical mailing address is 4200 E BELTLINE, GRAND RAPIDS MI, 49525. The financial services provider's listed phone number is 616-527-5820 and its investor relations email address is [email protected] The official website for Independent Bank is www.independentbank.com.