Independent Bank Co.(MI) (NASDAQ:IBCP) announced a quarterly dividend on Monday, January 22nd, RTT News reports. Investors of record on Wednesday, February 7th will be given a dividend of 0.15 per share by the financial services provider on Thursday, February 15th. This represents a $0.60 dividend on an annualized basis and a yield of 2.52%. This is a boost from Independent Bank Co.(MI)’s previous quarterly dividend of $0.12.
Shares of Independent Bank Co (NASDAQ IBCP) traded up $0.25 on Monday, reaching $23.85. The company’s stock had a trading volume of 52,000 shares, compared to its average volume of 96,900. The company has a market cap of $508.81, a price-to-earnings ratio of 20.92, a price-to-earnings-growth ratio of 1.92 and a beta of 0.69. 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 52-week low of $18.50 and a 52-week high of $24.20.
Independent Bank Co.(MI) (NASDAQ:IBCP) last announced its quarterly earnings data on Thursday, October 26th. The financial services provider reported $0.32 EPS for the quarter, missing the Zacks’ consensus estimate of $0.33 by ($0.01). The firm had revenue of $33.22 million during the quarter, compared to the consensus estimate of $33.36 million. Independent Bank Co.(MI) had a net margin of 17.75% and a return on equity of 9.52%. equities analysts forecast that Independent Bank Co will post 1.18 earnings per share for the current fiscal year.
About Independent Bank Co.(MI)
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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