Independent Bank Corporation (IBCP): Price and Financial Metrics

IBCP POWR Grades

• IBCP scores best on the Momentum dimension, with a Momentum rank ahead of 89.62% of US stocks.
• The strongest trend for IBCP is in Momentum, which has been heading up over the past 179 days.
• IBCP's current lowest rank is in the Growth metric (where it is better than 6.76% of US stocks).

IBCP Stock Summary

• Independent Bank Corp's stock had its IPO on January 1, 1986, making it an older stock than 92.84% of US equities in our set.
• Price to trailing twelve month operating cash flow for IBCP is currently 4.46, higher than only 14.51% of US stocks with positive operating cash flow.
• IBCP's equity multiplier -- a measure of assets relative to shareholders'equity -- is greater than that of 94.28% of US stocks.
• Stocks that are quantitatively similar to IBCP, based on their financial statements, market capitalization, and price volatility, are OPBK, EBMT, HMNF, BHLB, and FISI.
• IBCP's SEC filings can be seen here. And to visit Independent Bank Corp's official 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 3 year net cashflow from operations growth rate is now at 53.5%.
• Its 2 year net cashflow from operations growth rate is now at 9.04%.
• The 2 year cash and equivalents growth rate now stands at 65.87%.

IBCP's revenue has moved up $23,691,000 over the prior 15 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
2021-12-31	208.336	110.154	62.895
2021-09-30	212.687	75.847	67.373
2021-06-30	216.532	80.818	70.995
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

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.