Independent Bank Corporation (IBCP): Price and Financial Metrics

IBCP POWR Grades

• Stability is the dimension where IBCP ranks best; there it ranks ahead of 92.84% of US stocks.
• The strongest trend for IBCP is in Stability, which has been heading up over the past 177 days.
• IBCP ranks lowest in Quality; there it ranks in the 42nd percentile.

IBCP Stock Summary

• INDEPENDENT BANK CORP's stock had its IPO on January 1, 1986, making it an older stock than 93.49% of US equities in our set.
• Price to trailing twelve month operating cash flow for IBCP is currently 3.41, higher than just 14.33% of US stocks with positive operating cash flow.
• Equity multiplier, or assets relative to shareholders' equity, comes in at 13.56 for INDEPENDENT BANK CORP; that's greater than it is for 95.83% of US stocks.
• Stocks with similar financial metrics, market capitalization, and price volatility to INDEPENDENT BANK CORP are FISI, UBFO, MCBC, FRAF, and UMPQ.
• Visit IBCP's SEC page to see the company's official filings. To visit the company's web site, go to www.independentbank.com.

IBCP Valuation Summary

• In comparison to the median Financial Services stock, IBCP's EV/EBIT ratio is 27.19% lower, now standing at 8.3.
• Over the past 243 months, IBCP's price/sales ratio has gone up 0.6.

Below are key valuation metrics over time for IBCP.

IBCP Growth Metrics

Its 3 year cash and equivalents growth rate is now at 53.33%.
• The 5 year net income to common stockholders growth rate now stands at 83.89%.
• Its 2 year net income to common stockholders growth rate is now at 40.51%.

IBCP's revenue has moved up $35,382,000 over the prior 33 months.

The table below shows IBCP's growth in key financial areas (numbers in millions of US dollars).

Date	Revenue	Operating Cash Flow	Net Income to Common Stock
2022-09-30	204.875	149.61	60.773
2022-06-30	205.419	104.681	59.438
2022-03-31	204.694	113.66	58.825
2021-12-31	208.336	110.154	62.895
2021-09-30	212.687	75.847	67.373
2021-06-30	216.532	80.818	70.995

IBCP's Quality Factors

The “Quality” component of the POWR Ratings focuses on 31 different factors of a companies fundamentals and operational strength. Here are some key insights as we drill into the specifics of these quality attributes.

• IBCP has a Quality Grade of C, ranking ahead of 39.39% of graded US stocks.
• IBCP's asset turnover comes in at 0.05 -- ranking 91st of 428 Banking stocks.
• FFIC, MVBF, and FNMA are the stocks whose asset turnover ratios are most correlated with IBCP.

The table below shows IBCP's key quality metrics over time.