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GuruFocus Financial Strength Rank measures how strong a company’s financial situation is. It is based on these factors

1. The debt burden that the company has as measured by its Interest coverage (current year).
2. Debt to revenue ratio. The lower, the better
3. Altman Z-score.

A company ranks high with financial strength is likely to withstand any business slowdowns and recessions.

Financial Strength : 4/10

vs
industry
vs
history
Cash-to-Debt 0.47
IBCP's Cash-to-Debt is ranked lower than
73% of the 1639 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 2.05 vs. IBCP: 0.47 )
Ranked among companies with meaningful Cash-to-Debt only.
IBCP' s Cash-to-Debt Range Over the Past 10 Years
Min: 0.09  Med: 0.5 Max: No Debt
Current: 0.47
Equity-to-Asset 0.10
IBCP's Equity-to-Asset is ranked lower than
53% of the 1624 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 0.10 vs. IBCP: 0.10 )
Ranked among companies with meaningful Equity-to-Asset only.
IBCP' s Equity-to-Asset Range Over the Past 10 Years
Min: 0.03  Med: 0.07 Max: 0.11
Current: 0.1
0.03
0.11
Debt-to-Equity 0.41
IBCP's Debt-to-Equity is ranked higher than
60% of the 1247 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 0.63 vs. IBCP: 0.41 )
Ranked among companies with meaningful Debt-to-Equity only.
IBCP' s Debt-to-Equity Range Over the Past 10 Years
Min: 0.1  Med: 1.18 Max: 3.53
Current: 0.41
0.1
3.53
Debt-to-EBITDA 2.57
IBCP's Debt-to-EBITDA is ranked higher than
64% of the 1255 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 5.03 vs. IBCP: 2.57 )
Ranked among companies with meaningful Debt-to-EBITDA only.
IBCP' s Debt-to-EBITDA Range Over the Past 10 Years
Min: -9.65  Med: 1.55 Max: 18.47
Current: 2.57
-9.65
18.47
Interest Coverage 4.28
IBCP's Interest Coverage is ranked higher than
78% of the 1562 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 1.72 vs. IBCP: 4.28 )
Ranked among companies with meaningful Interest Coverage only.
IBCP' s Interest Coverage Range Over the Past 10 Years
Min: 0.09  Med: 2.96 Max: 5.02
Current: 4.28
0.09
5.02
Beneish M-Score: -3.82
WACC vs ROIC
4.71%
9.84%
WACC
ROIC
GuruFocus Profitability Rank ranks how profitable a company is and how likely the company’s business will stay that way. It is based on these factors:

1. Operating Margin
2. Trend of the Operating Margin (5-year average). The company with an uptrend profit margin has a higher rank.
••3. Consistency of the profitability
4. Piotroski F-Score
5. Predictability Rank•

The maximum rank is 10. A rank of 7 or higher means a higher profitability and may stay that way. A rank of 3 or lower indicates that the company has had trouble to make a profit.

Profitability Rank is not directly related to the Financial Strength Rank. But if a company is consistently profitable, its financial strength will be stronger.

Profitability & Growth : 5/10

vs
industry
vs
history
Operating Margin % 27.34
IBCP's Operating Margin % is ranked lower than
62% of the 1650 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 32.07 vs. IBCP: 27.34 )
Ranked among companies with meaningful Operating Margin % only.
IBCP' s Operating Margin % Range Over the Past 10 Years
Min: -55.42  Med: 11.39 Max: 27.34
Current: 27.34
-55.42
27.34
Net Margin % 18.88
IBCP's Net Margin % is ranked lower than
66% of the 1650 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 22.99 vs. IBCP: 18.88 )
Ranked among companies with meaningful Net Margin % only.
IBCP' s Net Margin % Range Over the Past 10 Years
Min: -57.34  Med: 11.13 Max: 63.12
Current: 18.88
-57.34
63.12
ROE % 9.58
IBCP's ROE % is ranked higher than
58% of the 1653 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 8.60 vs. IBCP: 9.58 )
Ranked among companies with meaningful ROE % only.
IBCP' s ROE % Range Over the Past 10 Years
Min: -62.04  Med: 5.82 Max: 44.77
Current: 9.58
-62.04
44.77
ROA % 0.94
IBCP's ROA % is ranked higher than
54% of the 1657 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 0.90 vs. IBCP: 0.94 )
Ranked among companies with meaningful ROA % only.
IBCP' s ROA % Range Over the Past 10 Years
Min: -3.05  Med: 0.56 Max: 3.66
Current: 0.94
-3.05
3.66
3-Year EBITDA Growth Rate 15.50
IBCP's 3-Year EBITDA Growth Rate is ranked higher than
72% of the 1396 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 5.90 vs. IBCP: 15.50 )
Ranked among companies with meaningful 3-Year EBITDA Growth Rate only.
IBCP' s 3-Year EBITDA Growth Rate Range Over the Past 10 Years
Min: 0  Med: 11.8 Max: 71.1
Current: 15.5
0
71.1
3-Year EPS without NRI Growth Rate -33.40
IBCP's 3-Year EPS without NRI Growth Rate is ranked lower than
94% of the 1354 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 6.60 vs. IBCP: -33.40 )
Ranked among companies with meaningful 3-Year EPS without NRI Growth Rate only.
IBCP' s 3-Year EPS without NRI Growth Rate Range Over the Past 10 Years
Min: -58.1  Med: 13.5 Max: 141.6
Current: -33.4
-58.1
141.6
GuruFocus has detected 3 Warning Signs with Independent Bank Corp (Ionia MI) IBCP.
More than 500,000 people have already joined GuruFocus to track the stocks they follow and exchange investment ideas.
» IBCP's 30-Y Financials

Financials (Next Earnings Date: 2018-01-26)


Revenue & Net Income
Equity & Asset
Operating Cash Flow & Free Cash Flow
Operating Cash Flow & Net Income

» Details

Guru Trades

Q4 2016

IBCP Guru Trades in Q4 2016

Jim Simons 743,600 sh (+11.90%)
» More
Q1 2017

IBCP Guru Trades in Q1 2017

Jim Simons 767,300 sh (+3.19%)
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Q2 2017

IBCP Guru Trades in Q2 2017

Jim Simons 768,900 sh (+0.21%)
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Q3 2017

IBCP Guru Trades in Q3 2017

Jim Simons 828,700 sh (+7.78%)
» More
» Details

Insider Trades

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Business Description

Industry: Banks » Banks - Regional - US    NAICS: 522110    SIC: 6022
Compare:OTCPK:HBIA, NAS:HTBI, AMEX:BHB, NAS:SNBC, NAS:CNBKA, NAS:TBBK, NYSE:FSB, NAS:AROW, NAS:FISI, NAS:ABTX, NAS:FMBH, NAS:WFBI, NAS:FCBC, OTCPK:FMCB, NAS:OKSB, NAS:FRBK, NAS:MOFG, NAS:CCNE, NAS:ACBI, NAS:BMRC » details
Headquarter Location:USA
Independent Bank Corp (Ionia MI) is a bank holding company. It offers products & services, including checking and savings accounts, commercial lending, direct and indirect consumer financing, mortgage lending and safe deposit box services.

Independent Bank Corp (Ionia MI) is a bank holding company. It offers products & services, including checking and savings accounts, commercial lending, direct and indirect consumer financing, mortgage lending and safe deposit box services.

Top Ranked Articles about Independent Bank Corp (Ionia MI)

Independent Bank Corporation Announces Executive Management Promotions
Independent Bank Corporation Announces Executive Management Promotions
Independent Bank Corporation Announces a 20% Increase in Its Quarterly Cash Dividend on Common Stock
Independent Bank Corporation Announces Date for Its Third Quarter 2017 Earnings Release
Independent Bank Corporation Announces Cash Dividend on its Common Stock
Independent Bank Corporation Announces Cash Dividend on Its Common Stock
Independent Bank Corporation Announces Date for Its First Quarter 2017 Earnings Release
GRAND RAPIDS, Mich., March 23, 2017 (GLOBE NEWSWIRE) -- Independent Bank Corporation (NASDAQ:IBCP), the holding company of Independent Bank, a Michigan-based community bank, announced that it expects to issue its 2017 first quarter financial results on Monday, Apr. 24, 2017, at approximately 8:00 am ET.  The release will be available on the Internet at IndependentBank.com within the “News” section of the “Investor Relations” area of the Company’s website.
Brad Kessel, President and CEO, and Rob Shuster, CFO, will review the quarterly results in a conference call for investors and analysts beginning at 11:00 am ET on Monday, Apr. 24, 2017.To participate in the live conference call, please dial 1-866-200-8394. Also the conference call will be accessible through an audio webcast with user-controlled slides via the following event site/URL: http://services.choruscall.com/links/ibcp170424.A playback of the call can be accessed by dialing 1-877-344-7529 (Conference ID # 10103864). The replay will be available through May 1, 2017.About Independent Bank CorporationIndependent Bank Corporation (NASDAQ:IBCP) is a Michigan-based bank holding company with total assets of approximately $2.5 billion.  Founded as First National Bank of Ionia in 1864, Independent Bank Corporation operates a branch network across Michigan's Lower Peninsula through one state-chartered bank subsidiary.  This subsidiary (Independent Bank) provides a full range of financial services, including commercial banking, mortgage lending, investments and title services.  Independent Bank Corporation is committed to providing exceptional personal service and value to its customers, stockholders and the communities it serves. For more information, please visit our Web site at: IndependentBank.com.
Contact:
William B. Kessel, President and CEO, 616.447.3933
Robert N. Shuster, Chief Financial Officer, 616.522.1765

Read more...

Ratios

vs
industry
vs
history
PE Ratio 19.38
IBCP's PE Ratio is ranked lower than
74% of the 1528 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 14.62 vs. IBCP: 19.38 )
Ranked among companies with meaningful PE Ratio only.
IBCP' s PE Ratio Range Over the Past 10 Years
Min: 1.71  Med: 17.14 Max: 255.67
Current: 19.38
1.71
255.67
Forward PE Ratio 15.77
IBCP's Forward PE Ratio is ranked lower than
75% of the 372 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 14.77 vs. IBCP: 15.77 )
Ranked among companies with meaningful Forward PE Ratio only.
N/A
PE Ratio without NRI 19.38
IBCP's PE Ratio without NRI is ranked lower than
74% of the 1531 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 14.75 vs. IBCP: 19.38 )
Ranked among companies with meaningful PE Ratio without NRI only.
IBCP' s PE Ratio without NRI Range Over the Past 10 Years
Min: 1.71  Med: 17.08 Max: 255.67
Current: 19.38
1.71
255.67
Price-to-Owner-Earnings 21.45
IBCP's Price-to-Owner-Earnings is ranked lower than
55% of the 922 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 14.44 vs. IBCP: 21.45 )
Ranked among companies with meaningful Price-to-Owner-Earnings only.
IBCP' s Price-to-Owner-Earnings Range Over the Past 10 Years
Min: 1.05  Med: 14.32 Max: 115.33
Current: 21.45
1.05
115.33
PB Ratio 1.78
IBCP's PB Ratio is ranked lower than
81% of the 1636 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 1.22 vs. IBCP: 1.78 )
Ranked among companies with meaningful PB Ratio only.
IBCP' s PB Ratio Range Over the Past 10 Years
Min: 0.18  Med: 0.99 Max: 2.24
Current: 1.78
0.18
2.24
PS Ratio 3.69
IBCP's PS Ratio is ranked lower than
56% of the 1598 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 3.44 vs. IBCP: 3.69 )
Ranked among companies with meaningful PS Ratio only.
IBCP' s PS Ratio Range Over the Past 10 Years
Min: 0.03  Med: 1.14 Max: 4.23
Current: 3.69
0.03
4.23
Price-to-Free-Cash-Flow 36.73
IBCP's Price-to-Free-Cash-Flow is ranked lower than
88% of the 890 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 11.78 vs. IBCP: 36.73 )
Ranked among companies with meaningful Price-to-Free-Cash-Flow only.
IBCP' s Price-to-Free-Cash-Flow Range Over the Past 10 Years
Min: 0.23  Med: 12.32 Max: 136.76
Current: 36.73
0.23
136.76
Price-to-Operating-Cash-Flow 27.58
IBCP's Price-to-Operating-Cash-Flow is ranked lower than
86% of the 957 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 10.35 vs. IBCP: 27.58 )
Ranked among companies with meaningful Price-to-Operating-Cash-Flow only.
IBCP' s Price-to-Operating-Cash-Flow Range Over the Past 10 Years
Min: 0.18  Med: 9.88 Max: 94.34
Current: 27.58
0.18
94.34
EV-to-EBIT 14.83
IBCP's EV-to-EBIT is ranked lower than
58% of the 1255 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 12.71 vs. IBCP: 14.83 )
Ranked among companies with meaningful EV-to-EBIT only.
IBCP' s EV-to-EBIT Range Over the Past 10 Years
Min: -117.9  Med: 9.4 Max: 256.8
Current: 14.83
-117.9
256.8
EV-to-EBITDA 12.54
IBCP's EV-to-EBITDA is ranked lower than
56% of the 1254 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 11.38 vs. IBCP: 12.54 )
Ranked among companies with meaningful EV-to-EBITDA only.
IBCP' s EV-to-EBITDA Range Over the Past 10 Years
Min: -74.6  Med: 8.7 Max: 184.3
Current: 12.54
-74.6
184.3
EV-to-Revenue 4.09
IBCP's EV-to-Revenue is ranked higher than
51% of the 1293 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 4.22 vs. IBCP: 4.09 )
Ranked among companies with meaningful EV-to-Revenue only.
IBCP' s EV-to-Revenue Range Over the Past 10 Years
Min: -1.4  Med: 2.2 Max: 5.3
Current: 4.09
-1.4
5.3

Dividend & Buy Back

vs
industry
vs
history
Dividend Yield % 1.89
IBCP's Dividend Yield % is ranked lower than
70% of the 2337 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 2.62 vs. IBCP: 1.89 )
Ranked among companies with meaningful Dividend Yield % only.
IBCP' s Dividend Yield % Range Over the Past 10 Years
Min: 0.46  Med: 2 Max: 19.77
Current: 1.89
0.46
19.77
Dividend Payout Ratio 0.35
IBCP's Dividend Payout Ratio is ranked lower than
53% of the 1387 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 0.32 vs. IBCP: 0.35 )
Ranked among companies with meaningful Dividend Payout Ratio only.
IBCP' s Dividend Payout Ratio Range Over the Past 10 Years
Min: 0.23  Med: 0.31 Max: 1.91
Current: 0.35
0.23
1.91
Forward Dividend Yield % 2.14
IBCP's Forward Dividend Yield % is ranked lower than
74% of the 2240 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 2.79 vs. IBCP: 2.14 )
Ranked among companies with meaningful Forward Dividend Yield % only.
N/A
5-Year Yield-on-Cost % 1.89
IBCP's 5-Year Yield-on-Cost % is ranked lower than
78% of the 2723 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 3.29 vs. IBCP: 1.89 )
Ranked among companies with meaningful 5-Year Yield-on-Cost % only.
IBCP' s 5-Year Yield-on-Cost % Range Over the Past 10 Years
Min: 0.46  Med: 2 Max: 19.77
Current: 1.89
0.46
19.77
3-Year Average Share Buyback Ratio 2.30
IBCP's 3-Year Average Share Buyback Ratio is ranked higher than
92% of the 1129 Companies
in the Global Banks - Regional - US industry.

( Industry Median: -2.20 vs. IBCP: 2.30 )
Ranked among companies with meaningful 3-Year Average Share Buyback Ratio only.
IBCP' s 3-Year Average Share Buyback Ratio Range Over the Past 10 Years
Min: -55.9  Med: -3.4 Max: 3
Current: 2.3
-55.9
3

Valuation & Return

vs
industry
vs
history
Price-to-Tangible-Book 1.88
IBCP's Price-to-Tangible-Book is ranked lower than
76% of the 1630 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 1.30 vs. IBCP: 1.88 )
Ranked among companies with meaningful Price-to-Tangible-Book only.
IBCP' s Price-to-Tangible-Book Range Over the Past 10 Years
Min: 0.32  Med: 1.53 Max: 6.71
Current: 1.88
0.32
6.71
Price-to-Intrinsic-Value-Projected-FCF 1.20
IBCP's Price-to-Intrinsic-Value-Projected-FCF is ranked lower than
77% of the 857 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 0.85 vs. IBCP: 1.20 )
Ranked among companies with meaningful Price-to-Intrinsic-Value-Projected-FCF only.
IBCP' s Price-to-Intrinsic-Value-Projected-FCF Range Over the Past 10 Years
Min: 0.06  Med: 0.88 Max: 9.76
Current: 1.2
0.06
9.76
Price-to-Median-PS-Value 3.22
IBCP's Price-to-Median-PS-Value is ranked lower than
97% of the 1469 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 1.16 vs. IBCP: 3.22 )
Ranked among companies with meaningful Price-to-Median-PS-Value only.
IBCP' s Price-to-Median-PS-Value Range Over the Past 10 Years
Min: 0.03  Med: 2.05 Max: 6.58
Current: 3.22
0.03
6.58
Price-to-Graham-Number 1.27
IBCP's Price-to-Graham-Number is ranked lower than
76% of the 1429 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 0.95 vs. IBCP: 1.27 )
Ranked among companies with meaningful Price-to-Graham-Number only.
IBCP' s Price-to-Graham-Number Range Over the Past 10 Years
Min: 0.21  Med: 1 Max: 5.06
Current: 1.27
0.21
5.06
Earnings Yield (Greenblatt) % 6.76
IBCP's Earnings Yield (Greenblatt) % is ranked higher than
56% of the 1657 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 5.51 vs. IBCP: 6.76 )
Ranked among companies with meaningful Earnings Yield (Greenblatt) % only.
IBCP' s Earnings Yield (Greenblatt) % Range Over the Past 10 Years
Min: -524.6  Med: 9.4 Max: 767.3
Current: 6.76
-524.6
767.3
Forward Rate of Return (Yacktman) % 57.03
IBCP's Forward Rate of Return (Yacktman) % is ranked higher than
93% of the 981 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 11.33 vs. IBCP: 57.03 )
Ranked among companies with meaningful Forward Rate of Return (Yacktman) % only.
IBCP' s Forward Rate of Return (Yacktman) % Range Over the Past 10 Years
Min: -206.6  Med: -1.4 Max: 108.4
Current: 57.03
-206.6
108.4

More Statistics

Revenue (TTM) (Mil) $130.41
EPS (TTM) $ 1.14
Beta0.30
Short Percentage of Float0.37%
52-Week Range $18.30 - 23.65
Shares Outstanding (Mil)21.33

Analyst Estimate

Dec17 Dec18 Dec19
Revenue (Mil $) 132 143 154
EPS ($) 1.20 1.40 1.55
EPS without NRI ($) 1.20 1.40 1.55
EPS Growth Rate
(Future 3Y To 5Y Estimate)
8.00%
Dividends per Share ($) 0.42 0.48

Piotroski F-Score Details

Piotroski F-Score: ----
Positive ROAN
Positive CFROAN
Higher ROA yoyN
CFROA > ROAN
Lower Leverage yoyN
Higher Current Ratio yoyN
Less Shares Outstanding yoyN
Higher Gross Margin yoyN
Higher Asset Turnover yoyN

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