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Independent Bank Corp (Ionia MI) (IBCP) Files 10-K for the Fiscal Year Ended on December 31, 2018

- By insider

Independent Bank Corp (Ionia MI) (IBCP) files its latest 10-K with SEC for the fiscal year ended on December 31, 2018. Independent Bank Corp (Ionia MI) is a bank holding company. It offers products & services, including checking and savings accounts, commercial lending, direct and indirect consumer financing, mortgage lending and safe deposit box services. Independent Bank Corp (Ionia MI) has a market cap of $540.920 million; its shares were traded at around $22.94 with a P/E ratio of 13.63 and P/S ratio of 3.47. The dividend yield of Independent Bank Corp (Ionia MI) stocks is 2.75%.


For the last quarter Independent Bank Corp (Ionia MI) reported a revenue of $39.5 million, compared with the revenue of $34.23 million during the same period a year ago. For the latest fiscal year the company reported a revenue of $157.7 million, an increase of 20.2% from last year. For the last five years Independent Bank Corp (Ionia MI) had an average revenue growth rate of 5.3% a year.

The reported diluted earnings per share was $1.68 for the year, an increase of 76.8% from previous year. Over the last five years Independent Bank Corp (Ionia MI) had an average EPS decline of 8% a year. The profitability rank of the company is 4 (out of 10).

At the end of the fiscal year, Independent Bank Corp (Ionia MI) has the cash and cash equivalents of $70.8 million, compared with $57.5 million in the previous year. The long term debt was $65.1 million, compared with $90.2 million in the previous year. Independent Bank Corp (Ionia MI) has a financial strength rank of 4 (out of 10).

At the current stock price of $22.94, Independent Bank Corp (Ionia MI) is traded at 188.6% premium to its historical median P/S valuation band of $7.95. The P/S ratio of the stock is 3.47, while the historical median P/S ratio is 1.21. The stock gained 0.89% during the past 12 months.

Directors and Officers Recent Trades:

  • Executive Vice President Robert N Shuster sold 5,255 shares of IBCP stock on 02/25/2019 at the average price of $23.25. The price of the stock has decreased by 1.33% since.

For the complete 20-year historical financial data of IBCP, click here.

This article first appeared on GuruFocus.