33.37 USD
-0.49 (-1.45%)
Overall IBCP gets a fundamental rating of 4 out of 10. We evaluated IBCP against 383 industry peers in the Banks industry. IBCP has a medium profitability rating, but doesn't score so well on its financial health evaluation. IBCP has a correct valuation and a medium growth rate. Finally IBCP also has an excellent dividend rating.
1. Profitability
1.1 Basic Checks
- In the past year IBCP was profitable.
- IBCP had a positive operating cash flow in the past year.
- In the past 5 years IBCP has always been profitable.
- IBCP had a positive operating cash flow in each of the past 5 years.
1.2 Ratios
- The Return On Assets of IBCP (1.25%) is better than 79.90% of its industry peers.
- The Return On Equity of IBCP (13.94%) is better than 91.38% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 1.25% | ||
| ROE | 13.94% | ||
| ROIC | N/A |
ROA(3y)1.21%
ROA(5y)1.26%
ROE(3y)15.84%
ROE(5y)15.55%
ROIC(3y)N/A
ROIC(5y)N/A
1.3 Margins
- IBCP has a better Profit Margin (29.84%) than 79.11% of its industry peers.
- IBCP's Profit Margin has improved in the last couple of years.
- The Operating Margin and Gross Margin are not available for IBCP so they could not be analyzed.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | N/A | ||
| PM (TTM) | 29.84% | ||
| GM | N/A |
OM growth 3YN/A
OM growth 5YN/A
PM growth 3Y-0.57%
PM growth 5Y1.95%
GM growth 3YN/A
GM growth 5YN/A
2. Health
2.1 Basic Checks
- IBCP does not have a ROIC to compare to the WACC, probably because it is not profitable.
- The number of shares outstanding for IBCP has been increased compared to 1 year ago.
- Compared to 5 years ago, IBCP has less shares outstanding
- IBCP has a better debt/assets ratio than last year.
2.2 Solvency
- IBCP has a debt to FCF ratio of 0.52. This is a very positive value and a sign of high solvency as it would only need 0.52 years to pay back of all of its debts.
- Looking at the Debt to FCF ratio, with a value of 0.52, IBCP is in the better half of the industry, outperforming 79.63% of the companies in the same industry.
- IBCP has a Debt/Equity ratio of 0.08. This is a healthy value indicating a solid balance between debt and equity.
- IBCP's Debt to Equity ratio of 0.08 is fine compared to the rest of the industry. IBCP outperforms 72.32% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.08 | ||
| Debt/FCF | 0.52 | ||
| Altman-Z | N/A |
ROIC/WACCN/A
WACC17.61%
2.3 Liquidity
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | N/A | ||
| Quick Ratio | N/A |
3. Growth
3.1 Past
- IBCP shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 10.88%, which is quite good.
- IBCP shows quite a strong growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 9.47% yearly.
- The Revenue has grown by 8.10% in the past year. This is quite good.
- IBCP shows a small growth in Revenue. Measured over the last years, the Revenue has been growing by 5.50% yearly.
EPS 1Y (TTM)10.88%
EPS 3Y3.26%
EPS 5Y9.47%
EPS Q2Q%29.23%
Revenue 1Y (TTM)8.1%
Revenue growth 3Y2.6%
Revenue growth 5Y5.5%
Sales Q2Q%8.38%
3.2 Future
- The Earnings Per Share is expected to grow by 5.10% on average over the next years.
- The Revenue is expected to grow by 6.59% on average over the next years.
EPS Next Y4.03%
EPS Next 2Y4.75%
EPS Next 3Y5.1%
EPS Next 5YN/A
Revenue Next Year9.04%
Revenue Next 2Y7.08%
Revenue Next 3Y6.59%
Revenue Next 5YN/A
3.3 Evolution
- The EPS growth rate is decreasing: in the next years the growth will be less than in the last years.
- When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is stable.
4. Valuation
4.1 Price/Earnings Ratio
- With a Price/Earnings ratio of 10.24, the valuation of IBCP can be described as very reasonable.
- IBCP's Price/Earnings ratio is a bit cheaper when compared to the industry. IBCP is cheaper than 79.63% of the companies in the same industry.
- The average S&P500 Price/Earnings ratio is at 27.38. IBCP is valued rather cheaply when compared to this.
- IBCP is valuated reasonably with a Price/Forward Earnings ratio of 9.62.
- Based on the Price/Forward Earnings ratio, IBCP is valued a bit cheaper than the industry average as 65.01% of the companies are valued more expensively.
- The average S&P500 Price/Forward Earnings ratio is at 24.29. IBCP is valued rather cheaply when compared to this.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 10.24 | ||
| Fwd PE | 9.62 |
4.2 Price Multiples
- Based on the Price/Free Cash Flow ratio, IBCP is valued a bit cheaper than 73.37% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 9.06 | ||
| EV/EBITDA | N/A |
4.3 Compensation for Growth
- The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates an expensive valuation of the company.
PEG (NY)2.54
PEG (5Y)1.08
EPS Next 2Y4.75%
EPS Next 3Y5.1%
5. Dividend
5.1 Amount
- IBCP has a Yearly Dividend Yield of 3.07%. Purely for dividend investing, there may be better candidates out there.
- IBCP's Dividend Yield is a higher than the industry average which is at 2.86.
- IBCP's Dividend Yield is rather good when compared to the S&P500 average which is at 1.84.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 3.07% |
5.2 History
- The dividend of IBCP has a limited annual growth rate of 5.93%.
- IBCP has paid a dividend for at least 10 years, which is a reliable track record.
- IBCP has not decreased its dividend for at least 10 years, so it has a reliable track record of non decreasing dividend.
Dividend Growth(5Y)5.93%
Div Incr Years10
Div Non Decr Years10
5.3 Sustainability
- IBCP pays out 31.03% of its income as dividend. This is a sustainable payout ratio.
- The dividend of IBCP is growing, but the earnings are growing slower. This means the dividend growth is not sustainable.
DP31.03%
EPS Next 2Y4.75%
EPS Next 3Y5.1%
NASDAQ:IBCP (1/20/2026, 1:05:50 PM)
33.37
-0.49 (-1.45%)
Chartmill FA Rating
GICS SectorFinancials
GICS IndustryGroupBanks
GICS IndustryBanks
Earnings (Last)10-28 2025-10-28/bmo
Earnings (Next)01-22 2026-01-22/bmo
Inst Owners86.88%
Inst Owner Change-0.38%
Ins Owners2.18%
Ins Owner Change-0.11%
Market Cap690.43M
Revenue(TTM)229.32M
Net Income(TTM)68.43M
Analysts50
Price Target36.31 (8.81%)
Short Float %1.61%
Short Ratio2.44
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 3.07% |
Yearly Dividend0.96
Dividend Growth(5Y)5.93%
DP31.03%
Div Incr Years10
Div Non Decr Years10
Ex-Date02-03 2026-02-03 (0.28)
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)-0.89%
Min EPS beat(2)-1.94%
Max EPS beat(2)0.17%
EPS beat(4)3
Avg EPS beat(4)3.23%
Min EPS beat(4)-1.94%
Max EPS beat(4)11.06%
EPS beat(8)5
Avg EPS beat(8)3.41%
EPS beat(12)7
Avg EPS beat(12)5.69%
EPS beat(16)10
Avg EPS beat(16)9.96%
Revenue beat(2)0
Avg Revenue beat(2)-2.86%
Min Revenue beat(2)-3.51%
Max Revenue beat(2)-2.21%
Revenue beat(4)0
Avg Revenue beat(4)-2.25%
Min Revenue beat(4)-3.51%
Max Revenue beat(4)-1.31%
Revenue beat(8)0
Avg Revenue beat(8)-2.17%
Revenue beat(12)2
Avg Revenue beat(12)1.63%
Revenue beat(16)6
Avg Revenue beat(16)12.57%
PT rev (1m)1.14%
PT rev (3m)0.56%
EPS NQ rev (1m)0%
EPS NQ rev (3m)1.62%
EPS NY rev (1m)0%
EPS NY rev (3m)0.86%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)-0.25%
Revenue NY rev (1m)0%
Revenue NY rev (3m)-0.06%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 10.24 | ||
| Fwd PE | 9.62 | ||
| P/S | 3.01 | ||
| P/FCF | 9.06 | ||
| P/OCF | 8.1 | ||
| P/B | 1.41 | ||
| P/tB | 1.61 | ||
| EV/EBITDA | N/A |
EPS(TTM)3.26
EY9.77%
EPS(NY)3.47
Fwd EY10.39%
FCF(TTM)3.68
FCFY11.03%
OCF(TTM)4.12
OCFY12.35%
SpS11.08
BVpS23.72
TBVpS20.77
PEG (NY)2.54
PEG (5Y)1.08
Graham Number41.71
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 1.25% | ||
| ROE | 13.94% | ||
| ROCE | N/A | ||
| ROIC | N/A | ||
| ROICexc | N/A | ||
| ROICexgc | N/A | ||
| OM | N/A | ||
| PM (TTM) | 29.84% | ||
| GM | N/A | ||
| FCFM | 33.22% |
ROA(3y)1.21%
ROA(5y)1.26%
ROE(3y)15.84%
ROE(5y)15.55%
ROIC(3y)N/A
ROIC(5y)N/A
ROICexc(3y)N/A
ROICexc(5y)N/A
ROICexgc(3y)N/A
ROICexgc(5y)N/A
ROCE(3y)N/A
ROCE(5y)N/A
ROICexgc growth 3YN/A
ROICexgc growth 5YN/A
ROICexc growth 3YN/A
ROICexc growth 5YN/A
OM growth 3YN/A
OM growth 5YN/A
PM growth 3Y-0.57%
PM growth 5Y1.95%
GM growth 3YN/A
GM growth 5YN/A
F-Score9
Asset Turnover0.04
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.08 | ||
| Debt/FCF | 0.52 | ||
| Debt/EBITDA | N/A | ||
| Cap/Depr | 90.65% | ||
| Cap/Sales | 3.95% | ||
| Interest Coverage | N/A | ||
| Cash Conversion | N/A | ||
| Profit Quality | 111.31% | ||
| Current Ratio | N/A | ||
| Quick Ratio | N/A | ||
| Altman-Z | N/A |
F-Score9
WACC17.61%
ROIC/WACCN/A
Cap/Depr(3y)64.12%
Cap/Depr(5y)57.62%
Cap/Sales(3y)3.06%
Cap/Sales(5y)2.83%
Profit Quality(3y)113.55%
Profit Quality(5y)120.65%
High Growth Momentum
Growth
EPS 1Y (TTM)10.88%
EPS 3Y3.26%
EPS 5Y9.47%
EPS Q2Q%29.23%
EPS Next Y4.03%
EPS Next 2Y4.75%
EPS Next 3Y5.1%
EPS Next 5YN/A
Revenue 1Y (TTM)8.1%
Revenue growth 3Y2.6%
Revenue growth 5Y5.5%
Sales Q2Q%8.38%
Revenue Next Year9.04%
Revenue Next 2Y7.08%
Revenue Next 3Y6.59%
Revenue Next 5YN/A
EBIT growth 1YN/A
EBIT growth 3YN/A
EBIT growth 5YN/A
EBIT Next YearN/A
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1Y42.64%
FCF growth 3Y-19.14%
FCF growth 5Y13.27%
OCF growth 1Y43.02%
OCF growth 3Y-16.94%
OCF growth 5Y12.85%
INDEPENDENT BANK CORP - MICH / IBCP FAQ
What is the ChartMill fundamental rating of INDEPENDENT BANK CORP - MICH (IBCP) stock?
ChartMill assigns a fundamental rating of 4 / 10 to IBCP.
What is the valuation status for IBCP stock?
ChartMill assigns a valuation rating of 5 / 10 to INDEPENDENT BANK CORP - MICH (IBCP). This can be considered as Fairly Valued.
How profitable is INDEPENDENT BANK CORP - MICH (IBCP) stock?
INDEPENDENT BANK CORP - MICH (IBCP) has a profitability rating of 4 / 10.
Can you provide the PE and PB ratios for IBCP stock?
The Price/Earnings (PE) ratio for INDEPENDENT BANK CORP - MICH (IBCP) is 10.24 and the Price/Book (PB) ratio is 1.41.
How financially healthy is INDEPENDENT BANK CORP - MICH?
The financial health rating of INDEPENDENT BANK CORP - MICH (IBCP) is 3 / 10.