Independent Bank Corporation (IBCP): Price and Financial Metrics

IBCP POWR Grades

• IBCP scores best on the Momentum dimension, with a Momentum rank ahead of 91.82% of US stocks.
• IBCP's strongest trending metric is Growth; it's been moving up over the last 163 days.
• IBCP ranks lowest in Growth; there it ranks in the 13th percentile.

IBCP Stock Summary

• Independent Bank Corp's stock had its IPO on January 1, 1986, making it an older stock than 92.74% of US equities in our set.
• With a price/earnings ratio of 7.74, Independent Bank Corp P/E ratio is greater than that of about just 15.91% of stocks in our set with positive earnings.
• IBCP's equity multiplier -- a measure of assets relative to shareholders'equity -- is greater than that of 93.92% of US stocks.
• Stocks that are quantitatively similar to IBCP, based on their financial statements, market capitalization, and price volatility, are COFS, EBMT, NBTB, OPBK, and HMNF.
• 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

• IBCP's price/sales ratio is 2.1; this is 75% higher than that of the median Financial Services stock.
• Over the past 243 months, IBCP's EV/EBIT ratio has gone down 10.5.
• IBCP's price/sales ratio has moved up 0.3 over the prior 243 months.

Below are key valuation metrics over time for IBCP.

IBCP Growth Metrics

Its 4 year cash and equivalents growth rate is now at -51.43%.
• The 2 year price growth rate now stands at -41.73%.
• Its 5 year price growth rate is now at -6.7%.

IBCP's revenue has moved up $56,093,000 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
2021-09-30	212.687	75.847	67.373
2021-06-30	216.532	80.818	70.995
2021-03-31	214.584	70.956	73.379
2020-12-31	191.894	58.173	56.152
2020-09-30	184.645	66.158	53.045
2020-06-30	170.061	63.996	45.906

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.