IBCP
Independent Bank Corporation
NasdaqGSUSDEQUITY
Financial Services
DELAYED
Last price
37.13
▼ 0.13 (0.35%)
MARKET · —
Price
Open
37.26
Prev close
37.26
Day high
37.58
Day low
36.93
Volume
251.09K
Market cap
$764.97M
P/E (TTM)
10.76
52W range
29.83 – 39.24
Trailing performance
Returnvs SPY
1W
-3.08%
-1.7%
1M
+1.31%
-2.4%
3M
+9.11%
+6.0%
6M
+0.43%
-10.6%
YTD
+14.14%
+1.9%
1Y
+18.29%
-1.7%
3Y
+90.41%
+16.2%
5Y
—
—
Price return only. Dividends are not reinvested, so total return on a dividend payer will be higher than shown.
Fundamentals
Market cap$764.97M
Enterprise value$822.54M
Revenue (TTM)$230.76M
Gross profit$230.76M
EBITDA—
Net income$71.75M
EPS (TTM)$3.45
Free cash flow—
Total cash$189.09M
Total debt$187.37M
Book value / share$25.65
Shares outstanding20.60M
Float21.62M
Short % of float2.81%
Dividend yield3.02%
Beta (5Y)0.70
Valuation & profitability ratios
Trailing P/E10.76
Forward P/E9.57
PEG ratio1.40
Price / sales—
Price / book1.45
EV / revenue3.57
EV / EBITDA—
Gross margin0.00%
Operating margin39.93%
Profit margin31.09%
Return on equity14.38%
Return on assets1.29%
Debt / equity—
Current ratio—
Fourteen ratios including P/E, PEG, EV/EBITDA, margins and return on equity.
Financial statements
| Line item | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|
| Total revenue | $180.01M | $166.25M | $156.33M | $149.56M |
| Cost of revenue | $0 | $0 | $0 | $0 |
| Gross profit | $0 | $0 | $0 | $0 |
| R&D | — | — | — | — |
| SG&A | — | — | — | — |
| Operating income | — | — | — | — |
| Pre-tax income | — | — | — | — |
| Tax provision | $0 | $0 | $0 | $0 |
| Net income | $68.54M | $66.79M | $59.07M | $63.35M |
| EBIT | $0 | $0 | $0 | $0 |
| Line item | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|
| Cash & equivalents | — | — | — | — |
| Short-term investments | — | — | — | — |
| Net receivables | — | — | — | — |
| Inventory | — | — | — | — |
| Total current assets | — | — | — | — |
| Total assets | — | — | — | — |
| Total current liabilities | — | — | — | — |
| Long-term debt | — | — | — | — |
| Total liabilities | — | — | — | — |
| Retained earnings | — | — | — | — |
| Shareholder equity | — | — | — | — |
| Line item | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|
| Net income | $68.54M | $66.79M | $59.07M | $63.35M |
| Depreciation | — | — | — | — |
| Change in working capital | — | — | — | — |
| Operating cash flow | — | — | — | — |
| Capital expenditure | — | — | — | — |
| Investing cash flow | — | — | — | — |
| Dividends paid | — | — | — | — |
| Buybacks | — | — | — | — |
| Financing cash flow | — | — | — | — |
| Net change in cash | — | — | — | — |
Earnings
Reported vs expected · EPS
| Quarter | Est. | Actual | Surprise |
|---|---|---|---|
| Jun 2026 | 0.84 | 0.90 | +6.6% |
| Mar 2026 | 0.79 | 0.81 | +2.8% |
| Dec 2025 | 0.84 | 0.89 | +5.7% |
| Sep 2025 | 0.84 | 0.84 | 0.0% |
Forward consensus
| Period | EPS | Analysts | Revenue | Growth |
|---|---|---|---|---|
| Current quarter | 0.88 | 5 | $59.53M | +31.2% |
| Next quarter | 0.95 | 5 | $59.21M | +27.7% |
| Current year | 3.53 | 5 | $221.51M | +23.1% |
| Next year | 3.88 | 5 | $243.86M | +10.1% |
Analyst targets & ownership
Mean target$40.40
High target$42.00
Low target$38.00
Implied upside8.81%
Analyst count5
ConsensusNONE
Strong buy / Buy0 / 1
Hold4
Sell / Strong sell0 / 0
Held by insiders4.76%
Held by institutions83.18%
Institutions holding277
Price targets, consensus spread, insider and institutional ownership.
Insider net activity
Net shares
+29.47K
Net buying
Buy transactions
9
34.16K shares
Sell transactions
4
4.69K shares
Net transactions
+13
Buys less sells
Sell : buy shares
0.1 : 1
Mixed
Insider-held shares
1.06M
Total on file
Insider transactions
| Date | Insider | Action | Shares | Value | Held |
|---|---|---|---|---|---|
| Aug 19, 26 | KRETER KRISTOPHER Officer |
SELL | 300 | $11.13K | Direct |
| Aug 10, 26 | TWAROZYNSKI JAMES J Officer |
SELL | 489 | $18.42K | Direct |
| Jul 1, 26 | BOER WILLIAM J Director |
STOCK | 285 | $10.28K | Direct |
| Jun 9, 26 | ERVIN PATRICK J Officer |
SELL | 2.50K | $88.50K | Direct |
| May 29, 26 | KIMBALL STEFANIE M Officer |
SELL | 1.40K | $48.18K | Direct |
| Apr 6, 26 | KESSEL WILLIAM B Chief Executive Officer |
— | 10.98K | — | Direct |
| Apr 6, 26 | RAHN JOEL F Officer |
— | 4.15K | — | Direct |
| Apr 6, 26 | KIMBALL STEFANIE M Officer |
— | 4.33K | — | Direct |
| Apr 6, 26 | KIMBALL STEFANIE M Officer |
— | 4.33K | — | Direct |
| Apr 6, 26 | ERVIN PATRICK J Officer |
— | 4.27K | — | Direct |
| Apr 6, 26 | MOHR GAVIN A Officer |
— | 4.30K | — | Direct |
| Apr 1, 26 | BOER WILLIAM J Director |
STOCK | 309 | $10.29K | Direct |
| Feb 24, 26 | KRUSE RONIA F Director |
BUY | 1.20K | $42.32K | Direct |
| Feb 3, 26 | MOHR GAVIN A Officer |
STOCK | 2.04K | $0 | Direct |
What this is, and what it is not
These are SEC Form 4 filings — officers, directors and 10% owners reporting their own trades in the company's stock. Filing is due within two business days of the transaction, so this lags reality by days, and the provider adds its own lag on top.
A sale is not automatically bearish. Executives sell on scheduled 10b5-1 plans, to cover tax on vesting equity, and to diversify. Purchases with cash are generally the more informative signal, and they are far rarer.
This does not include congressional or senate trading. That comes from STOCK Act disclosures filed with the Senate eFD system and the House Clerk, which this data source does not carry.
Officer and director trades in their own stock, straight from Form 4 filings.
Insider holders
| Name | Relation | Shares held | Latest |
|---|---|---|---|
BEIA TERANCE L. |
Director | 40.00K | Purchase |
BOER WILLIAM J |
Director | 45.20K | Stock Award(Grant) |
DANIEL LARRY R JR |
Officer | 27.60K | Conversion of Exercise of derivative security |
ERVIN PATRICK J |
Officer | 36.78K | Sale |
KESSEL WILLIAM B |
Chief Executive Officer | 168.86K | Conversion of Exercise of derivative security |
KIMBALL STEFANIE M |
Officer | 71.40K | Sale |
MAGEE MICHAEL M JR |
Director | 21.61K | Sale |
MOHR GAVIN A |
Officer | 28.32K | Conversion of Exercise of derivative security |
RAHN JOEL F |
Officer | 31.10K | Conversion of Exercise of derivative security |
STODOLAK MICHAEL JOSEPH |
Officer | 20.43K | Stock Award(Grant) |
Moving averages & technicals
SMA 10
37.88
-1.97% from price
SMA 20
38.10
-2.54% from price
SMA 50
36.73
+1.10% from price
SMA 100
35.33
+5.09% from price
SMA 200
34.53
+7.53% from price
EMA 12
37.75
-1.63% from price
EMA 26
37.54
-1.10% from price
EMA 50
36.86
+0.74% from price
RSI (14)
45.5
Neutral
MACD (12,26,9)
0.20
Hist -0.24
ATR (14)
0.56
1.52% of price
Realised vol 30D
23.7%
Annualised
Bollinger upper
39.07
20, 2σ
Bollinger lower
37.12
20, 2σ
50 / 200 cross
Golden
36.73 vs 34.53
Trend bias
Above 200
+7.53%
Risk profile
Beta vs SPY
0.46
Less volatile than market
Correlation to SPY
0.25
Largely independent
Realised vol 30D
23.7%
Annualised
Market vol 1Y
12.9%
SPY, annualised
Max drawdown 1Y
-13.5%
Peak to trough
Max drawdown 5Y
-40.3%
Peak to trough
ATR 14
0.56
1.52% of price
Beta (reported)
0.70
5Y monthly, from filing
Unusual options activity
Nothing crossed the thresholds in the expiries we scanned.
That is the normal state — most contracts trade well inside their existing open interest.
That is the normal state — most contracts trade well inside their existing open interest.
Contracts trading at or above their open interest, ranked by notional and where the print landed.
Options analytics
Put / call volume
—
—
Put / call open interest
—
Positioning, not flow
Max pain
35.00
-5.7% from spot
ATM implied vol
—
Nearest strike to spot
Skew (10% OTM)
—
—
Call volume
0
Contracts, this expiry
Put volume
0
Contracts, this expiry
Heaviest call OI
—
—
Heaviest put OI
35.00
3 contracts
Max pain is the strike at which the largest dollar value of open contracts expires worthless. It describes current positioning; it is not a forecast and it moves as open interest changes.
Put/call ratios, max pain, implied volatility skew and where open interest is concentrated.
Options chain
Calls
| Strike | Last | Bid | Ask | Vol | OI | IV |
|---|---|---|---|---|---|---|
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
Puts
| Strike | Last | Bid | Ask | Vol | OI | IV |
|---|---|---|---|---|---|---|
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
Every listed expiry, both sides of the book, with volume, open interest and implied volatility.
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PRIVATE STRATEGY · BY QUALIFICATION
The same data. A different seat.
The research you are reading is the input layer for a discretionary options program we run for a small number of qualified investors. Minimum $1,000,000.