CSIMarket


Independent Bank Corporation  (IBCP)
Other Ticker:  
 
    Sector  Financial    Industry Regional Banks
   Industry Regional Banks
   Sector  Financial


 

Independent Bank Corporation

IBCP's Financial Statements and Analysis



Independent Bank Corporation reported in the forth quarter of 2023 net earnings per share of $0.66 a decrease by -7.32 % year on year from $0.71 and decline of -20.79 % from $0.83 earned in III. Quarter (Sep 30 2023).


forth quarter of 2023
Earnings Per Share Revenues
$ 0.66 $  50 Mill
$-0.05     -7.32 % $-1M     -1.69 %



Independent Bank's Revenue fell by -1.69 % in forth quarter of 2023 (Dec 31 2023) year on year, to $50 million and declined by -7.2 % sequentially.


Independent Bank is

More on IBCP's Income Statement



Independent Bank's net income of $13.743 million in the forth quarter of 2023 decreased by -8.9 % from net earnings of $15.086 million achieved in IV. Quarter a year ago.

Sequentially net earnings fell by -21.66 % from net income of $17.543 million realized in previous quarter.

More on IBCP's Growth

Independent Bank Inventories
IBCP's Cash flow In the forth quarter of 2023 company's net cash flow was $42 million, capital expenditures grew by -1.71-11.52%, to $-2 millions compare to same quarter a year ago

More on IBCP's Cash flow Statement


Independent Bank Corporation payed out dividend of $0.91 per share in last 52 weeks representing 32.50 % of net earning per share in trailing twelve-month period.

During the same period Independent Bank Corporation earned $ 3.57 cash per share, on a free-cash flow basis 127.51 % of net earning per share.

Book value grew by 7.68 % sequentially to $19.10 per share, 100.38% of net income per share in trailing twelve-month period were contributed to shareholder value.
Tangible Book value grew to $ 17.67 per share from $ 16.30.

Company issued 0.03 million shares or 0.16 % in Dec 31 2023.
Interest Coverage Ratio was 1.88. Debt Coverage Ratio was 1.58.

More on IBCP's Dividends

 Market Capitalization (Millions) 511
 Shares Outstanding (Millions) 21
 Total Debt (Millions $) 90
 Revenue (TTM) (Millions $) 201
 Net Income (TTM) (Millions $) 59
 Cash Flow (TTM) (Millions $) 95
 Capital Exp. (TTM) (Millions $) -6
 Dividend TTM ($) 0.91 $
 Dividend Yield TTM (%) 3.73 %
 Employees (TTM) $ 1,051




Independent Bank Corporation payed out dividend of $0.91 per share in the last 52 weeks representing 32.50 % of net earning per share in trailing twelve-month period.

During the same period Independent Bank Corporation had $ 3.57 cash flow per share, on a free-cash flow basis 127.51 % of net earning per share.

Book value grew by 7.68 % sequentially to $19.10 per share, 100.38% of net income per share in trailing twelve-month period were contributed to shareholder value.
Tangible Book value grew to $ 17.67 per share from $ 16.30.

Company issued 0.03 million shares or 0.16 % in Dec 31 2023.
Interest Coverage Ratio was 1.88. Debt Coverage Ratio was 1.58.

More on IBCP's Balance Sheets

 Market Capitalization (Millions) 511
 Shares Outstanding (Millions) 21
 Total Debt (Millions $) 90
 Revenue (TTM) (Millions $) 201
 Net Income (TTM) (Millions $) 59
 Cash Flow (TTM) (Millions $) 95
 Capital Exp. (TTM) (Millions $) -6
 Dividend TTM ($) 0.91 $
 Dividend Yield TTM (%) 3.73 %
 Employees (TTM) $ 1,051
   


  News about Independent Bank Corporation Earnings

Strategic Measures and Future Growth Plans for Independent Bank Corporation



Despite facing disappointing financial results in the fiscal year ending December 31, 2023, Independent Bank Corporation (NASDAQ: IBCP) has demonstrated resilience and optimism in the face of challenges. While some may view the declining EPS, revenue, and profitability margins as concerning, a deeper analysis reveals that the company has employed strategic measures to overcome obstacles and drive future growth.
Key Financial Results
In the fiscal year ending December 31, 2023, Independent Bank Corporation reported a deteriorated EPS of -7.32% to $0.66 from $0.71, accompanied by a decline in revenue by -1.687% to $49.83 million year-on-year. From the previous quarter, income dropped from $0....

Independent Bank Corp: Failing to Meet Expectations, but Not Without Some Positive Gains

Independent Bank Corporation (IBCP) recently announced a moderate revenue advance of 0.14% to $53.69 million in the most recent fiscal period. Additionally, earnings grew modestly by 2.47% to $0.83 year on year. However, when comparing IBCP to its peers in the regional banks sector, it becomes clear that the company has performed below expectations. Peers in the industry announced a business advance of 0.67% compared to the comparable period a year before.
Despite underperforming in comparison to its peers, Independent Bank Corporation did show some positive indicators. Revenue increased by 6.418% from $50.45 million in the prior period, while income EPS increased by 18.57% from $0.70 per share. The bott...

Independent Bank Corporation Announces 4.421% Revenue Rise for Q2 2023 Despite Underperforming Regional Bank Industry Peers

Independent Bank Corporation Reports Financial Results for Fiscal Q3 2023
Independent Bank Corporation (IBCP), a regional bank company, recently announced its financial results for the fiscal three months ending June 30, 2023. The company reported a 4.421% increase in revenue, reaching $50.45 million compared to $48.31 million in the same quarter the previous year. Furthermore, the company's earnings per share (EPS) rose by 14.75% to $0.70, up from $0.61 in the prior year quarter.
Despite the positive growth, Independent Bank Corporation lags behind its industry peers in terms of business expansion, experiencing a 4.70% decrease from the second quarter of 2022. In the previous quarter, the company re...

Independent Bank Corporation Reports Disappointing Financial Results with 27.38% Drop in EPS and 12.5% Decrease in Revenue

Independent Bank Corporation, a regional bank company, has reported a decrease in its earni...


Date modified: 2024-03-10T17:34:30+00:00





Help

About us

Advertise

CSIMarket Company, Sector, Industry, Market Analysis, Stock Quotes, Earnings, Economy, News and Research. 
   Copyright © 2024 CSIMarket, Inc. All rights reserved. This site uses cookies to make your browsing experince better. By using this site, you agree to the Terms of Service and Privacy Policy - UPDATED (Read about our Privacy Policy)

Intraday data delayed per exchange requirements. All quotes are in local exchange time. Intraday data delayed 15 minutes for Nasdaq, and other exchanges. Fundamental and financial data for Stocks, Sector, Industry, and Economic Indicators provided by CSIMarket.com