Independent Bank (NASDAQ:IBCP) Stock, Quote.Headers.trade-ideas

Independent Bank

Independent Bank Corp (Ionia MI) operates as a commercial bank. It offers a broad 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. It also provides internet and mobile banking capabilities to its customers.

Tempe,,Arizona,-,Mar.,12,2023:,Silicon,Valley,Bank,(svb)

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Independent Bank Corporation - Common Stock

Independent Bank Corp (Ionia MI)

Keefe, Bruyette &amp; Woods analyst Damon Delmonte reiterates Independent Bank (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IBCP#NASDAQ">IBCP</a>) with a Market Perform and raises the price target from $26 to $31.

Price Target

Reiteration

Analyst Ratings

Keefe, Bruyette & Woods Reiterates Market Perform on Independent Bank, Raises Price Target to $31

Piper Sandler analyst Nathan Race maintains Independent Bank (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IBCP#NASDAQ">IBCP</a>) with a Neutral and raises the price target from $27 to $37.5.

Piper Sandler Maintains Neutral on Independent Bank, Raises Price Target to $37.5

Independent Bank (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IBCP#NASDAQ">IBCP</a>) reported quarterly earnings of $0.88 per share which beat the analyst consensus estimate of $0.70 by 25.71 percent. This is a 25.71 percent increase over earnings of $0.70 per share from the same period last year. The company reported quarterly sales of $41.35 million which beat the analyst consensus estimate of $41.10 million by 0.60 percent. This is a 7.81 percent increase over sales of $38.35 million the same period last year.

Earnings

Earnings Beats

Independent Bank Q2 EPS $0.88 Beats $0.70 Estimate, Sales $41.35M Beat $41.10M Estimate

DA Davidson analyst Peter Winter maintains Independent Bank (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IBCP#NASDAQ">IBCP</a>) with a Neutral and maintains $28 price target.

DA Davidson Maintains Neutral on Independent Bank, Maintains $28 Price Target

Independent Bank (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IBCP#NASDAQ">IBCP</a>) reported quarterly earnings of $0.76 per share which beat the analyst consensus estimate of $0.64 by 18.75 percent. This is a 24.59 percent increase over earnings of $0.61 per share from the same period last year. The company reported quarterly sales of $40.197 million which missed the analyst consensus estimate of $40.279 million by 0.20 percent. This is a 4.57 percent increase over sales of $38.441 million the same period last year.

Earnings Misses

Independent Bank Q1 2024 GAAP EPS $0.76 Beats $0.64 Estimate, Sales $40.197M Miss $40.279M Estimate

Independent Bank (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IBCP#NASDAQ">IBCP</a>) reported quarterly earnings of $0.65 per share which missed the analyst consensus estimate of $0.70 by 7.14 percent. This is a 8.45 percent decrease over earnings of $0.71 per share from the same period last year. The company reported quarterly sales of $40.11 million which beat the analyst consensus estimate of $40.11 million by 0 percent. This is a 1.21 percent decrease over sales of $40.60 million the same period last year.

Independent Bank Q4 EPS $0.65 Misses $0.70 Estimate, Sales $40.11M In Line With $40.11M Estimate

<h3>Companies Reporting Before The Bell</h3>
&bull; Nokia (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOK#NYSE">NOK</a>) is projected to report quarterly earnings at $0.15 per share on revenue of $7.05 billion.
&bull; Popular (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BPOP#NASDAQ">BPOP</a>) is likely to report quarterly earnings at $1.61 per share on revenue of $538.72 million.
&bull; Carpenter Tech (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CRS#NYSE">CRS</a>) is estimated to report quarterly earnings at $0.85 per share on revenue of $657.10 million.
&bull; Berkshire Hills Bancorp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BHLB#NYSE">BHLB</a>) is estimated to report quarterly earnings at $0.49 per share on revenue of $94.52 million.
&bull; NetScout Systems (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NTCT#NASDAQ">NTCT</a>) is projected to report quarterly earnings at $0.37 per share on revenue of $198.38 million.
&bull; NextEra Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NEE#NYSE">NEE</a>) is expected to report quarterly earnings at $0.49 per share on revenue of $5.70 billion.
&bull; Virtu Finl (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VIRT#NASDAQ">VIRT</a>) is estimated to report quarterly earnings at $0.41 per share on revenue of $286.54 million.
&bull; Blackstone (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BX#NYSE">BX</a>) is estimated to report quarterly earnings at $0.96 per share on revenue of $2.57 billion.
&bull; Global X Guru Index ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GURU#NYSE">GURU</a>) is estimated to report earnings for its fourth quarter.
&bull; Bread Finl Hldgs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BFH#NYSE">BFH</a>) is projected to report quarterly loss at $0.84 per share on revenue of $988.92 million.
&bull; MarineMax (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HZO#NYSE">HZO</a>) is projected to report quarterly earnings at $0.50 per share on revenue of $521.28 million.
&bull; Southwest Airlines (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LUV#NYSE">LUV</a>) is expected to report quarterly earnings at $0.11 per share on revenue of $6.74 billion.
&bull; CNX Resources (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CNX#NYSE">CNX</a>) is estimated to report quarterly earnings at $0.29 per share on revenue of $400.13 million.
&bull; Humana (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HUM#NYSE">HUM</a>) is expected to report quarterly earnings at $1.82 per share on revenue of $25.39 billion.
&bull; Valero Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VLO#NYSE">VLO</a>) is expected to report quarterly earnings at $2.95 per share on revenue of $35.69 billion.
&bull; McCormick &amp; Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MKC#NYSE">MKC</a>) is estimated to report quarterly earnings at $0.79 per share on revenue of $1.79 billion.
&bull; Murphy Oil (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MUR#NYSE">MUR</a>) is likely to report quarterly earnings at $1.00 per share on revenue of $855.99 million.
&bull; Banc of California (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BANC#NYSE">BANC</a>) is estimated to report quarterly loss at $0.08 per share on revenue of $170.60 million.
&bull; STMicroelectronics (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STM#NYSE">STM</a>) is likely to report quarterly earnings at $0.95 per share on revenue of $4.31 billion.
&bull; Lakeland Bancorp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LBAI#NASDAQ">LBAI</a>) is estimated to report quarterly earnings at $0.32 per share on revenue of $73.80 million.
&bull; Heritage Financial (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HFWA#NASDAQ">HFWA</a>) is estimated to report quarterly earnings at $0.45 per share on revenue of $62.03 million.
&bull; Union Pacific (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UNP#NYSE">UNP</a>) is likely to report quarterly earnings at $2.57 per share on revenue of $6.05 billion.
&bull; S&amp;T Bancorp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/STBA#NASDAQ">STBA</a>) is likely to report quarterly earnings at $0.86 per share on revenue of $99.77 million.
&bull; LSI Industries (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LYTS#NASDAQ">LYTS</a>) is expected to report quarterly earnings at $0.17 per share on revenue of $114.67 million.
&bull; Comcast (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CMCSA#NASDAQ">CMCSA</a>) is likely to report quarterly earnings at $0.79 per share on revenue of $30.50 billion.
&bull; Northrop Grumman (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOC#NYSE">NOC</a>) is likely to report quarterly earnings at $5.80 per share on revenue of $10.44 billion.
&bull; Mobileye Global (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MBLY#NASDAQ">MBLY</a>) is projected to report quarterly earnings at $0.27 per share on revenue of $639.80 million.
&bull; Dow (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DOW#NYSE">DOW</a>) is expected to report quarterly earnings at $0.40 per share on revenue of $10.37 billion.
&bull; Xerox Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/XRX#NASDAQ">XRX</a>) is estimated to report quarterly earnings at $0.53 per share on revenue of $1.79 billion.
&bull; Old Republic Intl (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ORI#NYSE">ORI</a>) is projected to report quarterly earnings at $0.71 per share on revenue of $1.97 billion.
&bull; OSI Systems (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OSIS#NASDAQ">OSIS</a>) is projected to report quarterly earnings at $1.74 per share on revenue of $362.55 million.
&bull; Sherwin-Williams (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SHW#NYSE">SHW</a>) is likely to report quarterly earnings at $1.80 per share on revenue of $5.22 billion.
&bull; Marsh &amp; McLennan (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MMC#NYSE">MMC</a>) is expected to report quarterly earnings at $1.63 per share on revenue of $5.54 billion.
&bull; TAL Education (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TAL#NYSE">TAL</a>) is projected to report quarterly earnings at $0.02 per share on revenue of $331.17 million.
&bull; Valley Ntl (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VLY#NASDAQ">VLY</a>) is estimated to report quarterly earnings at $0.25 per share on revenue of $468.14 million.
&bull; Applied Industrial Techs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AIT#NYSE">AIT</a>) is likely to report quarterly earnings at $2.11 per share on revenue of $1.06 billion.
&bull; American Airlines Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAL#NASDAQ">AAL</a>) is expected to report quarterly earnings at $0.10 per share on revenue of $13.02 billion.
&bull; NextEra Energy Partners (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NEP#NYSE">NEP</a>) is expected to report quarterly earnings at $0.16 per share on revenue of $343.45 million.
&bull; Alaska Air Gr (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALK#NYSE">ALK</a>) is estimated to report quarterly earnings at $0.18 per share on revenue of $2.55 billion.
&bull; ConnectOne Bancorp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CNOB#NASDAQ">CNOB</a>) is likely to report quarterly earnings at $0.45 per share on revenue of $63.03 million.
&bull; Amalgamated Financial (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMAL#NASDAQ">AMAL</a>) is likely to report quarterly earnings at $0.72 per share on revenue of $71.39 million.
&bull; Eagle Materials (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EXP#NYSE">EXP</a>) is likely to report quarterly earnings at $3.55 per share on revenue of $536.57 million.
&bull; First Foundation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FFWM#NYSE">FFWM</a>) is estimated to report quarterly earnings at $0.03 per share on revenue of $62.81 million.
&bull; RPC (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RES#NYSE">RES</a>) is likely to report quarterly earnings at $0.18 per share on revenue of $370.73 million.
&bull; Independent Bank (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IBCP#NASDAQ">IBCP</a>) is likely to report quarterly earnings at $0.70 per share on revenue of $40.11 million.
&bull; Xcel Energy (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/XEL#NASDAQ">XEL</a>) is estimated to report quarterly earnings at $0.85 per share on revenue of $4.01 billion.
&bull; First Merchants (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FRME#NASDAQ">FRME</a>) is expected to report quarterly earnings at $0.87 per share on revenue of $165.48 million.
&bull; Lakeland Financial (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LKFN#NASDAQ">LKFN</a>) is projected to report quarterly earnings at $0.89 per share on revenue of $59.98 million.
&bull; Marine Prods (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MPX#NYSE">MPX</a>) is expected to report quarterly earnings at $0.19 per share on revenue of $54.78 million.
&bull; West Bancorp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WTBA#NASDAQ">WTBA</a>) is projected to report quarterly earnings at $0.31 per share on revenue of $18.82 million.
<h3>Companies Reporting After The Bell</h3>
&bull; Western Alliance (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WAL#NYSE">WAL</a>) is projected to report quarterly earnings at $1.88 per share on revenue of $699.44 million.
&bull; Glacier Bancorp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GBCI#NYSE">GBCI</a>) is likely to report quarterly earnings at $0.41 per share on revenue of $167.16 million.
&bull; Federated Hermes (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FHI#NYSE">FHI</a>) is expected to report quarterly earnings at $0.83 per share on revenue of $396.98 million.
&bull; CVRx (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CVRX#NASDAQ">CVRX</a>) is expected to report quarterly loss at $0.54 per share on revenue of $11.14 million.
&bull; Fair Isaac (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FICO#NYSE">FICO</a>) is estimated to report quarterly earnings at $5.06 per share on revenue of $390.89 million.
&bull; Levi Strauss (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LEVI#NYSE">LEVI</a>) is likely to report quarterly earnings at $0.43 per share on revenue of $1.66 billion.
&bull; Western Digital (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WDC#NASDAQ">WDC</a>) is estimated to report quarterly loss at $1.13 per share on revenue of $2.99 billion.
&bull; AppFolio (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/APPF#NASDAQ">APPF</a>) is expected to report quarterly earnings at $0.72 per share on revenue of $162.71 million.
&bull; Visa (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/V#NYSE">V</a>) is projected to report quarterly earnings at $2.34 per share on revenue of $8.54 billion.
&bull; L3Harris Technologies (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LHX#NYSE">LHX</a>) is estimated to report quarterly earnings at $3.31 per share on revenue of $5.29 billion.
&bull; Marten Transport (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MRTN#NASDAQ">MRTN</a>) is projected to report quarterly earnings at $0.18 per share on revenue of $271.62 million.
&bull; Taro Pharmaceutical Indus (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TARO#NYSE">TARO</a>) is projected to report quarterly earnings at $0.30 per share on revenue of $154.91 million.
&bull; First of Long Island (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FLIC#NASDAQ">FLIC</a>) is expected to report quarterly earnings at $0.25 per share on revenue of $23.21 million.
&bull; USCB Financial Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/USCB#NASDAQ">USCB</a>) is estimated to report quarterly earnings at $0.22 per share on revenue of $17.25 million.
&bull; Third Coast Bancshares (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TCBX#NASDAQ">TCBX</a>) is projected to report quarterly earnings at $0.48 per share on revenue of $38.13 million.
&bull; First Western Financial (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MYFW#NASDAQ">MYFW</a>) is estimated to report quarterly earnings at $0.32 per share on revenue of $23.83 million.
&bull; Byline Bancorp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BY#NYSE">BY</a>) is expected to report quarterly earnings at $0.67 per share on revenue of $101.40 million.
&bull; T-Mobile US (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TMUS#NASDAQ">TMUS</a>) is projected to report quarterly earnings at $1.90 per share on revenue of $19.64 billion.
&bull; KLA (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KLAC#NASDAQ">KLAC</a>) is projected to report quarterly earnings at $5.91 per share on revenue of $2.46 billion.
&bull; SouthState (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SSB#NYSE">SSB</a>) is likely to report quarterly earnings at $1.54 per share on revenue of $417.72 million.
&bull; Intel (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>) is expected to report quarterly earnings at $0.45 per share on revenue of $15.16 billion.
&bull; Flushing Financial (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FFIC#NASDAQ">FFIC</a>) is estimated to report quarterly earnings at $0.23 per share on revenue of $48.12 million.
&bull; Weyerhaeuser (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WY#NYSE">WY</a>) is estimated to report quarterly earnings at $0.17 per share on revenue of $1.86 billion.
&bull; First Financial Bancor (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FFBC#NASDAQ">FFBC</a>) is expected to report quarterly earnings at $0.61 per share on revenue of $207.32 million.
&bull; Arthur J. Gallagher (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AJG#NYSE">AJG</a>) is likely to report quarterly earnings at $1.85 per share on revenue of $2.36 billion.
&bull; Capital One Finl (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COF#NYSE">COF</a>) is likely to report quarterly earnings at $2.64 per share on revenue of $9.46 billion.
&bull; Financial Institutions (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FISI#NASDAQ">FISI</a>) is likely to report quarterly earnings at $0.71 per share on revenue of $40.32 million.
&bull; Ameris (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ABCB#NASDAQ">ABCB</a>) is projected to report quarterly earnings at $1.10 per share on revenue of $264.66 million.
&bull; Hilltop Hldgs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HTH#NYSE">HTH</a>) is likely to report quarterly earnings at $0.40 per share on revenue of $113.80 million.
&bull; MidWestOne Financial Gr (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MOFG#NASDAQ">MOFG</a>) is likely to report quarterly earnings at $0.49 per share on revenue of $34.02 million.
&bull; Bancorp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TBBK#NASDAQ">TBBK</a>) is projected to report quarterly earnings at $0.95 per share on revenue of $90.65 million.
&bull; Customers Bancorp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CUBI#NYSE">CUBI</a>) is likely to report quarterly earnings at $1.72 per share on revenue of $173.26 million.
&bull; WSFS Financial (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WSFS#NASDAQ">WSFS</a>) is expected to report quarterly earnings at $1.05 per share on revenue of $177.61 million.
&bull; Olin (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OLN#NYSE">OLN</a>) is likely to report quarterly earnings at $0.19 per share on revenue of $1.52 billion.
&bull; Primis Finl (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FRST#NASDAQ">FRST</a>) is expected to report quarterly earnings at $0.28 per share on revenue of $27.05 million.
&bull; Provident Finl Servs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PFS#NYSE">PFS</a>) is projected to report quarterly earnings at $0.41 per share on revenue of $94.12 million.
&bull; Seacoast Banking (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SBCF#NASDAQ">SBCF</a>) is expected to report quarterly earnings at $0.40 per share on revenue of $135.57 million.
&bull; GSI Technology (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GSIT#NASDAQ">GSIT</a>) is expected to report earnings for its third quarter.
&bull; Associated Banc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ASB#NYSE">ASB</a>) is projected to report quarterly earnings at $0.52 per share on revenue of $275.24 million.
&bull; Midland States Bancorp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSBI#NASDAQ">MSBI</a>) is expected to report quarterly earnings at $0.79 per share on revenue of $75.49 million.
&bull; SB Finl Gr (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SBFG#NASDAQ">SBFG</a>) is expected to report quarterly earnings at $0.35 per share on revenue of $9.40 million.
&bull; Eastern Bankshares (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EBC#NASDAQ">EBC</a>) is likely to report quarterly earnings at $0.20 per share on revenue of $129.71 million.
&bull; BayFirst Financial (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BAFN#NASDAQ">BAFN</a>) is likely to report earnings for its fourth quarter.
This article was generated by Benzinga&#39;s automated content engine and reviewed by an editor.

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Earnings Scheduled For January 25, 2024

Independent Bank (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IBCP#NASDAQ">IBCP</a>) is set to give its latest quarterly earnings report on Thursday, 2024-01-25. Here's what investors need to know before the announcement.
Analysts estimate that Independent Bank will report an earnings per share (EPS) of $0.70. 
Independent Bank bulls will hope to hear the company announce they've not only beaten that estimate, but also to provide positive guidance, or forecasted growth, for the next quarter.
New investors should note that it is sometimes not an earnings beat or miss that most affects the price of a stock, but the guidance (or forecast).
<h3>Past Earnings Performance</h3>
Last quarter the company beat EPS by $0.21, which was followed by a 4.39% increase in the share price the next day.
Here's a look at Independent Bank's past performance and the resulting price change:

<table>
<thead>
<tr>
<th>Quarter</th>
<th>Q3 2023</th>
<th>Q2 2023</th>
<th>Q1 2023</th>
<th>Q4 2022</th>
</tr>
</thead>
<tbody>
<tr>
<td>EPS Estimate</td>
<td>0.62</td>
<td>0.59</td>
<td>0.60</td>
<td>0.73</td>
</tr>
<tr>
<td>EPS Actual</td>
<td>0.83</td>
<td>0.70</td>
<td>0.61</td>
<td>0.71</td>
</tr>
<tr>
<td>Price Change %</td>
<td>4.39%</td>
<td>4.68%</td>
<td>0.62%</td>
<td>-0.09%</td>
</tr>
</tbody>
</table>

<img src="https://www.benzinga.com/files/images/story/2024/1706115721_0.png" alt="eps graph" />
<h3>Stock Performance</h3>
Shares of Independent Bank were trading at $26.26 as of January 23. Over the last 52-week period, shares are up 24.68%. Given that these returns are generally positive, long-term shareholders are likely bullish going into this earnings release. 
<a href="https://www.benzinga.com/quote/IBCP/earnings">To track all earnings releases for Independent Bank visit their earnings calendar on our site.</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

A Preview Of Independent Bank's Earnings

Independent Bank Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IBCP#NASDAQ">IBCP</a>), the holding company of Independent Bank, a Michigan-based community bank, announced that today its Board of Directors declared a quarterly cash dividend on its common stock of 24 cents per share. This dividend is payable on February 15, 2024 to shareholders of record on February 5, 2024. The quarterly dividend represents a 4% increase over the quarterly dividend rate paid for each quarter in 2023. &nbsp;
William B. ("Brad") Kessel, the President and Chief Executive Officer of Independent Bank Corporation, commented: "This marks the eleventh consecutive annual increase in our dividend for our shareholders. Our consistent long-term operating performance, a strong capital position and an optimistic outlook for our future supports our board's decision for this dividend increase."

Independent Bank Corporation Announces Increase In Quarterly Cash Dividend On Common Stock From $0.23 To $0.24 Per Share

<h3>Understanding Value Stocks</h3>
A value stock traditionally has a lower price when compared to stock prices of companies in the same industry. This indicates that the company may be undervalued, as investors are not expressing as much interest in such companies. The most commonly used way to check for value is with the price-to-earnings multiple, or P/E. A low P/E multiple is a good indication that the stock is undervalued. 
<h2>The following stocks are considered to be notable value stocks in the financial services sector:</h2>
<ol>
<li>Independent Bank (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IBCP#NASDAQ">IBCP</a>) - P/E: 8.93</li>
<li>First United (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FUNC#NASDAQ">FUNC</a>) - P/E: 7.9</li>
<li>Main Street Capital (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MAIN#NYSE">MAIN</a>) - P/E: 8.75</li>
<li>SB Finl Gr (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SBFG#NASDAQ">SBFG</a>) - P/E: 9.03</li>
<li>First Citizens BancShares (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FCNCA#NASDAQ">FCNCA</a>) - P/E: 1.83</li>
</ol>
Most recently, Independent Bank reported earnings per share at $0.83, whereas in Q2 earnings per share sat at $0.7. The company's most recent dividend yield sits at 5.05%, which has decreased by 0.02% from 5.07% last quarter. 
Most recently, First United reported earnings per share at $0.67, whereas in Q2 earnings per share sat at $0.66. Its most recent dividend yield is at 4.41%, which has decreased by 0.53% from 4.94% in the previous quarter.
This quarter, Main Street Capital experienced a decrease in earnings per share, which was $1.12 in Q2 and is now $1.04. Most recently, the company reported a dividend yield of 7.55%, which has ('', 'not changed') by 0.0% from last quarter's yield of 7.55%.
Most recently, SB Finl Gr reported earnings per share at $0.4, whereas in Q2 earnings per share sat at $0.45. Its most recent dividend yield is at 4.22%, which has increased by 0.37% from 3.85% in the previous quarter.
First Citizens BancShares saw an increase in earnings per share from 52.6 in Q2 to $55.92 now. Its most recent dividend yield is at 0.5%, which has increased by 0.28% from 0.22% in the previous quarter.
These 5 value stocks were selected by Benzinga Insights based on quantified analysis. While this methodical judgment process is not meant to make final decisions, our technology can give investors additional perception into the sector.

FCNCA

FUNC

MAIN

5 Value Stocks To Watch In The Financial Services Sector

U.S. regional bank stocks have seen a significant uptrend over the recent weeks, reaching levels reminiscent of those during the onset of the Silicon Valley <a href="https://www.benzinga.com/topic/regional-banks">Bank crisis in March</a>.
The SPDR S&amp;P Regional Banking ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KRE#NYSE">KRE</a>), a pivotal gauge tracking more than a hundred industry players, has surged 35% in the past two months, marking its strongest two-month rally since January 2021. 
<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="750" height="650" src="https://editorial-assets.benzinga.com/wp-content/uploads/2023/12/20161531/newplot-6-1.png" alt="" class="wp-image-165951" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2023/12/20161531/newplot-6-1.png 750w,https://editorial-assets.benzinga.com/wp-content/uploads/2023/12/20161531/newplot-6-1-300x260.png 300w" sizes="(max-width: 750px) 100vw, 750px" /></figure>
The rally of regional banks has been bolstered by the gradual improvements in financial conditions in the United States, largely attributed to the Federal Reserve&#8217;s recent shift towards a more <a href="https://www.benzinga.com/analyst-ratings/analyst-color/23/12/36227799/feds-unexpected-dovish-signals-spark-market-euphoria-economists-weigh-in">accommodating monetary policy stance.</a>
Previously, elevated interest rates had placed regional banks in a precarious position. Declining loan demand and rising funding costs had exerted significant pressure on these banks&#8217; net interest margins (NIM).
However, the anticipated decrease in interest rates for 2024 has played a pivotal role in alleviating the strain on regional banks, propelling them to become one of the industries with the most robust performances in the recent market phase.
<h2 class="wp-block-heading">Key Contributors To Regional Bank Rally</h2>
Upon analyzing the KRE ETF constituents, ten regional banks have reported returns exceeding 40% in the last three months:
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<th>Name</th>
<th>Price Chg. % (3M)</th>
<th>Price Chg. % (1M)</th>
</tr>
<tr>
<td>Customers Bancorp, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CUBI#NYSE">CUBI</a>)</td>
<td>77.42%</td>
<td>25.50%</td>
</tr>
<tr>
<td>Metropolitan Bank Holding Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MCB#NYSE">MCB</a>)</td>
<td>58.17%</td>
<td>43.82%</td>
</tr>
<tr>
<td>Glacier Bancorp, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GBCI#NYSE">GBCI</a>)</td>
<td>56.21%</td>
<td>27.52%</td>
</tr>
<tr>
<td>Lakeland Financial Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LKFN#NYSE">LKFN</a>)</td>
<td>47.86%</td>
<td>17.09%</td>
</tr>
<tr>
<td>Live Oak Bancshares, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LOB#NYSE">LOB</a>)</td>
<td>46.86%</td>
<td>31.71%</td>
</tr>
<tr>
<td>Bank of Hawaii Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BOH#NYSE">BOH</a>)</td>
<td>46.20%</td>
<td>28.66%</td>
</tr>
<tr>
<td>FB Financial Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FBK#NYSE">FBK</a>)</td>
<td>44.83%</td>
<td>20.13%</td>
</tr>
<tr>
<td>Cadence Bank (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CADE#NYSE">CADE</a>)</td>
<td>44.30%</td>
<td>20.42%</td>
</tr>
<tr>
<td>Independent Bank Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IBCP#NYSE">IBCP</a>)</td>
<td>43.95%</td>
<td>18.13%</td>
</tr>
<tr>
<td>Premier Financial Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PFC#NYSE">PFC</a>)</td>
<td>42.28%</td>
<td>17.05%</td>
</tr>
</tbody>
</table>
</figure>
<h2 class="wp-block-heading">2024 Economic Outlook </h2>
Regional banks tend to flourish in an environment of solid economic growth, moderate inflation, and decreasing interest rates. 
Conversely, stagflation — characterized by stagnant economic growth paired with rising inflation — can be detrimental to the sector due to lower loan growth and potentially higher deposit interest rates.
A recession coupled with low-interest rates could create a complex scenario for the industry, possibly favoring only the larger, more robust banks. While a slow economy reduces loan demand, banks may benefit from decreased costs.
The latest projections from the Fed suggest a moderate US economic growth of 1.4% in 2024, slightly below the trend and well under the 2.6% growth seen in 2023.
Inflation is expected to decrease to 2.4% by the end of 2024, still marginally above the Fed&#8217;s 2% target. Additionally, the federal funds rate is projected to be cut by 75 basis points to 4.6%, with market expectations leaning towards even steeper rate reductions.
Read now: <a href="https://www.benzinga.com/news/large-cap/23/12/36330887/5-etfs-to-keep-an-eye-on-as-market-anticipates-feds-preferred-inflation-gauge-this-friday">5 ETFs To Keep An Eye On As Market Anticipates Fed&#8217;s Preferred Inflation Gauge This Friday</a>
Image: Shutterstock

Independent Bank (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IBCP#NASDAQ">IBCP</a>) reported quarterly earnings of $0.83 per share which beat the analyst consensus estimate of $0.62 by 33.87 percent. This is a 2.47 percent increase over earnings of $0.81 per share from the same period last year. The company reported quarterly sales of $39.43 million which beat the analyst consensus estimate of $36.74 million by 7.31 percent. This is a 1.18 percent decrease over sales of $39.90 million the same period last year.

Independent Bank Q3 EPS $0.83 Beats $0.62 Estimate, Sales $39.43M Beat $36.74M Estimate

Independent Bank (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IBCP#NASDAQ">IBCP</a>) is set to give its latest quarterly earnings report on Tuesday, 2023-10-24. Here's what investors need to know before the announcement.
Analysts estimate that Independent Bank will report an earnings per share (EPS) of $0.62. 
Independent Bank bulls will hope to hear the company announce they've not only beaten that estimate, but also to provide positive guidance, or forecasted growth, for the next quarter.
New investors should note that it is sometimes not an earnings beat or miss that most affects the price of a stock, but the guidance (or forecast).
<h3>Historical Earnings Performance</h3>
Last quarter the company beat EPS by $0.11, which was followed by a 4.68% increase in the share price the next day.
Here's a look at Independent Bank's past performance and the resulting price change:

<table>
<thead>
<tr>
<th>Quarter</th>
<th>Q2 2023</th>
<th>Q1 2023</th>
<th>Q4 2022</th>
<th>Q3 2022</th>
</tr>
</thead>
<tbody>
<tr>
<td>EPS Estimate</td>
<td>0.59</td>
<td>0.60</td>
<td>0.73</td>
<td>0.60</td>
</tr>
<tr>
<td>EPS Actual</td>
<td>0.70</td>
<td>0.61</td>
<td>0.71</td>
<td>0.81</td>
</tr>
<tr>
<td>Price Change %</td>
<td>4.68%</td>
<td>0.62%</td>
<td>-0.09%</td>
<td>0.59%</td>
</tr>
</tbody>
</table>

<img src="https://www.benzinga.com/files/images/story/2023/1698094878_0.png" alt="eps graph" />
<h3>Stock Performance</h3>
Shares of Independent Bank were trading at $17.99 as of October 20. Over the last 52-week period, shares are down 18.55%. Given that these returns are generally negative, long-term shareholders are likely a little upset going into this earnings release. 
<a href="https://www.benzinga.com/quote/IBCP/earnings">To track all earnings releases for Independent Bank visit their earnings calendar on our site.</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Although U.S. stocks closed lower on Thursday, there were a few notable insider trades.
When insiders purchase shares, it indicates their confidence in the company&#39;s prospects or that they view the stock as a bargain. Either way, this signals an opportunity to go long on the stock. Insider purchases should not be taken as the only indicator for making an investment or trading decision. At best, it can lend conviction to a buying decision.
Below is a look at a few recent notable insider purchases. For more, check out <a href="https://www.benzinga.com/sec/insider-trades/"> Benzinga&#39;s insider transactions </a> platform.
<h3>Nuvectis Pharma </h3>
<ul>
<li>The Trade: Nuvectis Pharma, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/nvct#NASDAQ">NVCT</a>) 10% owner Charles Mosseri-Marlio <a href="https://www.benzinga.com/quote/RILY/analyst-ratings"> acquired a total of 10,000 shares </a> an average price of $13.97. To acquire these shares, it cost around $139,700.</li>
<li>What&rsquo;s Happening: Nuvectis Pharma recently announced FDA clearance of NXP900 IND.</li>
<li>What Nuvectis Pharma Does: Nuvectis Pharma Inc is a biopharmaceutical company. The company is engaged in the development of innovative precision medicines for the treatment of serious conditions of unmet medical needs in oncology.</li>
</ul>
<h3>B. Riley Financial </h3>
The Trade: B. Riley Financial, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/rily#NASDAQ">RILY</a>) Co-CEO Thomas J. Kelleher acquired a total of 9,633 shares at an average price of 54.10. To acquire these shares, it cost around $521,172.
What&rsquo;s Happening: B. Riley Financial priced its 1,818,182 share offering at $55 per share.
What B. Riley Financial Does: B. Riley Financial Inc is a diversified financial services company. The company through its subsidiaries offers investment banking and financial services to corporate, institutional and high net worth clients and also asset disposition, valuation and appraisal and capital advisory services to retail, wholesale, institutional, lenders, capital providers, private equity investors, and professional services firms in United States, Canada, and Europe.
Don&rsquo;t forget to check out our <a href="https://www.benzinga.com/premarket/"> premarket coverage here </a> 
Independent Bank 
The Trade: Independent Bank Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ibcp#NASDAQ">IBCP</a>) Director Dennis Archer Jr <a href="https://www.benzinga.com/sec/insider-trades/"> bought a total of 6,000 shares </a> at an average price of $19.26. To acquire these shares, it cost around $115,549.
What&rsquo;s Happening: Independent Bank reported better-than-expected second-quarter financial results.
What Independent Bank Does: Independent Bank Corp (Ionia MI) operates as a commercial bank. It offers a broad 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.
Check This Out: <a href="https://www.benzinga.com/news/earnings/23/07/33411403/mcdonalds-meta-platforms-and-3-stocks-to-watch-heading-into-thursday"> McDonald&#39;s, Meta Platforms And 3 Stocks To Watch Heading Into Thursday </a>
Texas Capital Bancshares 
The Trade: Texas Capital Bancshares, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/tcbi#NASDAQ">TCBI</a>) Director Robert Stallings <a href="https://www.benzinga.com/sec/insider-trades/"> bought a total 2,000 shares </a> at an average price of $61.98. The insider spent around $123,960 to buy those shares.
What&rsquo;s Happening: Texas Capital Bancshares posted upbeat second-quarter results.
What Texas Capital Bancshares Does: Texas Capital Bancshares Inc is a secured lender, with the majority of the loans held for investment, excluding mortgage finance loans and other national lines of business.

Keefe, Bruyette &amp; Woods analyst Christopher Mcgratty maintains Independent Bank (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IBCP#NASDAQ">IBCP</a>) with a Market Perform and raises the price target from $20 to $21.

Keefe, Bruyette & Woods Maintains Market Perform on Independent Bank, Raises Price Target to $21

Independent Bank (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IBCP#NASDAQ">IBCP</a>) reported quarterly earnings of $0.70 per share which beat the analyst consensus estimate of $0.59 by 18.64 percent. This is a 14.75 percent increase over earnings of $0.61 per share from the same period last year. The company reported quarterly sales of $38.35 million which beat the analyst consensus estimate of $38.04 million by 0.81 percent. This is a 6.35 percent increase over sales of $36.06 million the same period last year.

UPDATE: Independent Bank Q2 EPS $0.70 Beats $0.59 Estimate, Sales $38.35M Beat $38.04M Estimate

Independent Bank (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ibcp#NASDAQ">IBCP</a>) reported quarterly earnings of $0.70 per share which beat the analyst consensus estimate of $0.59 by 18.64 percent. This is a 14.75 percent increase over earnings of $0.61 per share from the same period last year. The company reported quarterly sales of $38.35 million which beat the analyst consensus estimate of $38.04 million by 0.81 percent. This is a 6.35 percent increase over sales of $36.06 million the same period last year.

Independent Bank Q2 EPS $0.70 Beats $0.59 Estimate, Sales $38.35M Beat $38.04M Estimate

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Earnings Scheduled For July 25, 2023

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Shares of banks and financial services companies are trading lower following the recent failure of First Republic, which has cause uncertainty in the sector and has pressured regional banking names.

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Independent Bank (IBCP) Forecast

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