Independent Bank Corp (Ionia MI), known by the ticker symbol IBCP,  is a nano-cap Michigan regional bank, operating in the financial services business sector. This is my first report on IBCP for this Viital portfolio or any of my previous six dog of the week portfolios.

The company operates as a commercial bank. It offers a broad range of banking services to individuals and businesses, including checking and savings accounts, commercial lending, direct and indirect consumer financing, mortgage lending, and safe deposit box services. It also provides internet and mobile banking capabilities to its customers.

The company offers its services through approximately 59 branches, two drive-thru facilities, and nine loan production offices in Michigan; and two loan production offices in Ohio. Independent Bank Corporation was founded in 1864 and is based in Grand Rapids, Michigan.

Three key data points gauge any dividend equity or fund such as Independent Bank Corp (Ionia MI):
 

(1) Price

(2) Dividends

(3) Returns

Those three basic keys best tell whether any company has made, is making, and will make money. 

IBCP Price

Independent's price per share was $22.82 as of Monday's market close. One year ago its price was $21.15. Therefore Independent's share price increased $1.67 or 7.9% in the past year.

If Independent's stock trades in the range of $20.00 to $28.00 this next year, its recent $22.82 share price might rise by $3.68 to reach $26.50 by March 2, 2023. This estimate is  provided by the median 1 year price targets from five analysts tracking IBCP for brokerages.

IBCP Dividends

Independent's most recent quarterly dividend of $0.22 was paid February 15th, to shareholders on record as of February 3rd.  The IBCP  Annual estimated dividend payout per share of $0.88 yields 3.86% per yesterday's $22.82. closing price. 

Independent has paid regular quarterly dividend payouts generally increasing annually since April, 2009. That stretch will mark 13 years next month.

IBCP Returns

Adding the $0.88 annual Independent Bank Corp forward-looking dividend to its estimated one-year price upside of $3.68 shows a $4.56 potential gross gain, per share, to be reduced by any costs to trade IBCP shares.  

At yesterday's $22.82 price per share, a little over $1000 would buy 44 shares.

A $10 broker fee (if charged) would be paid half at purchase and half at sale and might cost us  $0.23 per share.

Subtract that maybe $0.23 brokerage cost from my estimated $4.56 gross gain estimate per share results in a net gain of $4.33 X 44 shares = $190.52 for a 19.05% net gain on a $1,004.08 investment.

So it is that Independent Bank Corp (Ionia MI)  shows a possible 19.05% net gain including a 3.86% forward estimated dividend yield. 

Over the next year at this time our $1000 investment in Independent Bank Corp (Ionia MI) (IBCP) could generate $38.60 in cash dividends alone. Note that a single share of IBCP stock bought at yesterday's share price of $22.82 is more than 40% under the dividend income from $1000.00 invested. So, by my dogcatcher ideal, now is a good time to pickup Independent Bank Corp (Ionia MI) (IBCP)  shares. The estimated next-year dividend from $1K invested is 69.15 % more than yesterday's single share price of IBCP. Consider yourself alerted. Its a sign!  Now's the time!

All of the estimates above are speculation based on the past history of Independent Bank Corp (Ionia MI). Only time and money invested in this stock will determine its market value.