In a report released yesterday, Damon Delmonte from KBW maintained a Hold rating on Independent Bank (IBCP – Research Report), with a price target of $26.00. The company’s shares closed yesterday at $25.17.
According to TipRanks, Delmonte is a 5-star analyst with an average return of 16.3% and a 70.08% success rate. Delmonte covers the Financial sector, focusing on stocks such as Financial Institutions, Heartland Financial USA, and Macatawa Bank.
The word on The Street in general, suggests a Hold analyst consensus rating for Independent Bank with a $27.00 average price target.
Based on Independent Bank’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $183.42 million and a net profit of $60.81 million. In comparison, last year the company earned a revenue of $56.76 million and had a net profit of $17.3 million
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Independent Bank (IBCP) Company Description:
Independent Bank Corp. operates as a bank holding company. It provides financial services including commercial banking, mortgage lending, investments, and title services. The company was founded in 1864 and is headquartered in Ionia, MI.
Read More on IBCP:
- Independent Bank’s Insightful Update at 2024 Annual Meeting
- Independent Bank Corporation Announces Appointment of Stephen L. Gulis, Jr. as Chairperson to Its Board of Directors
- Independent Bank appoints Stephen Gulis as chairperson of board
- Independent Bank Corporation Announces Quarterly Cash Dividend on Common Stock
- Independent Bank Corporation Announces Date for Its First Quarter 2024 Earnings Release
