Independent Bank Corp. (IBCP)

Price$34.39

Favorite Metrics

Price vs S&P 500 (26W)5.66%

Price vs S&P 500 (4W)-0.71%

Market Capitalization$707.62M

P/E Ratio (Annual)10.32x

Indicated Dividend Yield (Annual)3.22%

All Metrics

P/CF (Annual)9.23x

Book Value / Share (Quarterly)$24.48

P/TBV (Annual)1.43x

Indicated Dividend (Annual)$1.04

Revenue Growth (3Y)4.31%

Cash Flow / Share (Quarterly)$3.41

Payout Ratio (TTM)31.51%

Price vs S&P 500 (YTD)2.81%

Net Profit Margin (TTM)28.82%

EPS (TTM)$3.27

10-Day Avg Trading Volume0.17M

EPS Excl Extra (TTM)$3.27

Revenue Growth (5Y)11.45%

EPS (Annual)$3.27

Dividend / Share (Annual)$1.04

ROI (Annual)12.63%

Net Profit Margin (5Y Avg)28.29%

Cash / Share (Quarterly)$2.81

P/E Basic Excl Extra (TTM)10.32x

Revenue Growth QoQ (YoY)38.97%

EPS Growth (5Y)5.25%

P/E Normalized (Annual)10.32x

ROA (Last FY)1.24%

Revenue Growth TTM (YoY)46.05%

EBITD / Share (TTM)$4.35

ROE (5Y Avg)15.39%

Operating Margin (TTM)35.45%

Cash Flow / Share (Annual)$3.41

P/B Ratio1.41x

P/B Ratio (Quarterly)1.34x

Net Income / Employee (Annual)$0

ROA (TTM)1.26%

EPS Growth QoQ (YoY)1.93%

EV / EBITDA (TTM)8.20x

EPS Incl Extra (Annual)$3.27

3-Month Avg Trading Volume0.17M

52-Week Price Return16.43%

EV / Free Cash Flow (Annual)10.65x

P/E Incl Extra (TTM)10.32x

Tangible BV / Share (Quarterly)$22.89

P/S Ratio (Annual)2.12x

52-Week High$37.39

EPS Excl Extra (Annual)$3.27

CapEx CAGR (5Y)8.10%

Tangible BV CAGR (5Y)5.02%

26-Week Price Return14.40%

13-Week Price Return5.36%

Total Debt / Equity (Annual)0.08x

Enterprise Value$747.492

Revenue / Share Growth (5Y)10.26%

Book Value / Share Growth (5Y)6.59%

Revenue / Employee (Annual)$253,051

Pretax Margin (Annual)36.84%

Cash / Share (Annual)$3.33

3-Month Return Std Dev24.76%

Net Income / Employee (TTM)$0

EBITDA CAGR (5Y)2.99%

EBITDA Interim CAGR (5Y)-1.33%

ROE (Last FY)13.63%

EPS Basic Excl Extra (Annual)$3.27

P/FCF (TTM)10.08x

EV / Free Cash Flow (TTM)10.65x

Total Debt / Equity (Quarterly)0.08x

EPS Incl Extra (TTM)$3.27

ROI (TTM)12.64%

Dividend Growth Rate (5Y)5.63%

P/S Ratio (TTM)2.14x

Pretax Margin (5Y Avg)34.91%

Revenue / Share (Annual)$9.92

Tangible BV / Share (Annual)$22.89

Forward P/E9.84x

Free OCF CAGR (5Y)5.26%

Price vs S&P 500 (52W)-18.66%

P/E Ratio (TTM)10.32x

EPS Growth TTM (YoY)3.36%

Year-to-Date Return6.95%

5-Day Price Return0.00%

EPS Normalized (Annual)$3.27

ROA (5Y Avg)1.24%

Net Profit Margin (Annual)30.00%

Month-to-Date Return4.47%

Cash Flow / Share (TTM)$3.32

EBITD / Share (Annual)$4.35

EPS Growth (3Y)3.18%

Operating Margin (Annual)36.84%

LT Debt / Equity (Annual)0.08x

P/CF (TTM)9.23x

ROI (5Y Avg)13.08%

P/E Excl Extra (TTM)10.32x

LT Debt / Equity (Quarterly)0.08x

EPS Basic Excl Extra (TTM)$3.27

P/TBV (Quarterly)1.43x

Payout Ratio (Annual)31.51%

P/B Ratio (Annual)1.34x

Dividend / Share (TTM)$1.04

Pretax Margin (TTM)35.45%

Book Value / Share (Annual)$24.48

Price vs S&P 500 (13W)2.50%

Net Margin Growth (5Y)8.34%

Dividend Yield (TTM)3.05%

Beta0.76x

P/FCF (Annual)10.08x

Revenue / Share (TTM)$9.88

ROE (TTM)14.20%

52-Week Low$29.37

Analyst Recommendations

Jan 2026

Feb 2026

Mar 2026

Apr 2026

2.50

2.44

2.50

Industry Peers — State Banks(184)

Symbol	P/B Ratio (Quarterly)	ROE (TTM)	ROA (TTM)	Net Interest Coverage (TTM)	Price
IBCPIndependent Bank Corp.	1.34x	14.20%	1.26%	—	$34.39
ITUBItau Unibanco Holding S.A. American Depositary Shares	2.03x	20.76%	1.50%	—	$9.28
BNSBank of Nova Scotia	1.45x	10.41%	0.62%	—	$76.78
BKBank of New York Mellon Corporation	1.83x	12.66%	1.20%	—	$135.37
FITBFifth Third Bancorp	1.23x	8.86%	0.93%	—	$50.98
FITBIFifth Third Bancorp Depositary Shares	1.23x	8.86%	0.93%	—	$25.31
FITBMFifth Third Bancorp Depositary Shares Representing a 1/40th Ownership Interest in a Share of 6.875% Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock, Series M	1.23x	8.86%	0.93%	—	$25.88
FITBOFifth Third Bancorp Depositary Shares each representing a 1/1000th ownership interest in a share of Non-Cumulative Perpetual Preferred Stock, Series K	1.23x	8.86%	0.93%	—	$19.50
FITBPFifth Third Bancorp Depositary Shares each representing 1/40th share of Fifth Third 6.00% Non-Cumulative Perpetual Class B Preferred Stock, Series A	1.23x	8.86%	0.93%	—	$24.18
BBDBanco Bradesco S.A. American Depositary Shares (Each representing one Preferred Shares)	1.04x	9.84%	0.81%	—	$4.19
BBDOBanco Bradesco S.A. American Depositary Shares (Each representing one Common Share, no par value)	1.04x	9.84%	0.81%	—	$3.73

About

Independent Bank Corp is a Michigan-based commercial bank offering deposit accounts, commercial and consumer lending, and mortgage financing to individuals and businesses. The bank provides digital banking through internet and mobile platforms.