Independent Bank Corp (Ionia MI) Stock Upgraded (IBCP)
- Compared to its closing price of one year ago, IBCP's share price has jumped by 110.13%, exceeding the performance of the broader market during that same time frame. Regarding the stock's future course, although almost any stock can fall in a broad market decline, IBCP should continue to move higher despite the fact that it has already enjoyed a very nice gain in the past year.
- The company's current return on equity greatly increased when compared to its ROE from the same quarter one year prior. This is a signal of significant strength within the corporation. Compared to other companies in the Commercial Banks industry and the overall market, INDEPENDENT BANK CORP/MI's return on equity significantly exceeds that of both the industry average and the S&P 500.
- The gross profit margin for INDEPENDENT BANK CORP/MI is currently very high, coming in at 95.87%. It has increased from the same quarter the previous year. Along with this, the net profit margin of 14.82% is above that of the industry average.
- IBCP, with its decline in revenue, slightly underperformed the industry average of 16.4%. Since the same quarter one year prior, revenues fell by 18.3%. Weakness in the company's revenue seems to have hurt the bottom line, decreasing earnings per share.
- INDEPENDENT BANK CORP/MI's earnings per share declined by 41.7% in the most recent quarter compared to the same quarter a year ago. This company has reported somewhat volatile earnings recently. We feel it is likely to report a decline in earnings in the coming year. During the past fiscal year, INDEPENDENT BANK CORP/MI increased its bottom line by earning $3.29 versus $0.70 in the prior year. For the next year, the market is expecting a contraction of 74.8% in earnings ($0.83 versus $3.29).
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