SharesGrow 7-Criteria Score
All 7 criteria scored · valuation-related highlighted on this page
Independent Bank Corporation (IBCP) trades at a trailing P/E of 10.4, forward P/E of 9.9. Trailing earnings yield is 9.66%, forward earnings yield 10.06%. PEG 2.96. Graham Number is $42.67.
Criteria proven by this page:
- VALUE (65/100, Pass) — P/E is below market average (10.4); analyst target implies upside (+12.3%); earnings yield beats bond yields (9.66%).
- Forward P/E 9.9 (down from trailing 10.4) — analysts expect earnings to grow, which would improve the valuation.
- PEG Ratio 2.96 — above 2.0 suggests expensive relative to earnings growth.
- Trailing Earnings Yield 9.66% — exceeds typical bond yields (~4.3%), making equity attractive vs fixed income. Forward yield improves to 10.06% as earnings recover.
- Analyst consensus target $39.00 (+12.3% upside) — modest upside expected.
Overall SharesGrow Score: 67/100 with 4/7 criteria passed.
SharesGrow 7-Criteria Score
✓
VALUE
65/100
Price-to-Earnings & upside
Proven by this page
~
HEALTH
67/100
Debt-to-Equity & liquidity
→ Health
Valuation Snapshot — IBCP
Valuation Multiples
P/E (TTM)10.4
Forward P/E9.9
PEG Ratio2.96
Forward PEG1.44
P/B Ratio1.41
P/S Ratio2.29
EV/EBITDA8.7
Per Share Data
EPS (TTM)$3.32
Forward EPS (Est.)$3.49
Book Value / Share$24.37
Revenue / Share$15.01
FCF / Share$3.40
Yields & Fair Value
Earnings Yield9.66%
Forward Earnings Yield10.06%
Dividend Yield3.08%
Graham Number$42.67
SharesGrow IV$79.17 (+127.9%)
Analyst Target$39.00 (+12.3%)
Historical Valuation
| Year |
P/E (TTM) |
PEG Ratio |
P/B Ratio |
P/S Ratio |
Dividend Yield |
| 2016 |
20.5 |
1.00 |
1.87 |
3.75 |
1.56% |
| 2017 |
23.3 |
-2.47 |
1.80 |
3.45 |
1.88% |
| 2018 |
12.4 |
0.16 |
1.45 |
2.88 |
2.85% |
| 2019 |
11.2 |
0.57 |
1.48 |
2.72 |
3.20% |
| 2020 |
7.2 |
0.28 |
1.04 |
1.89 |
4.35% |
| 2021 |
8.2 |
0.60 |
1.29 |
2.49 |
3.52% |
| 2022 |
8.0 |
2.58 |
1.45 |
2.25 |
3.68% |
| 2023 |
9.2 |
-1.54 |
1.35 |
1.92 |
3.55% |
| 2024 |
10.9 |
0.81 |
1.60 |
2.30 |
2.76% |
| 2025 |
9.8 |
3.14 |
1.34 |
2.13 |
3.21% |
P/E Ratio & Earnings Yield
Earnings Per Share (EPS) History
| Year |
EPS (Diluted) |
Revenue |
Net Income |
Net Margin |
| 2016 |
$1.05 |
$124.16M |
$22.77M |
18.3% |
| 2017 |
$0.95 |
$138.06M |
$20.48M |
14.8% |
| 2018 |
$1.68 |
$170.88M |
$39.84M |
23.3% |
| 2019 |
$2.00 |
$190.76M |
$46.44M |
24.3% |
| 2020 |
$2.53 |
$214.2M |
$56.15M |
26.2% |
| 2021 |
$2.88 |
$207.12M |
$62.9M |
30.4% |
| 2022 |
$2.97 |
$224.23M |
$63.35M |
28.3% |
| 2023 |
$2.79 |
$283.83M |
$59.07M |
20.8% |
| 2024 |
$3.16 |
$316.33M |
$66.79M |
21.1% |
| 2025 |
$3.27 |
$315.38M |
$68.54M |
21.7% |
Analyst Estimates
| Year |
EPS (Avg) |
EPS Range |
Revenue (Avg) |
Revenue Range |
Analysts |
| 2026 |
$3.49 |
$3.46 – $3.54 |
$251.91M |
$250.02M – $253.79M |
4 |
| 2027 |
$3.78 |
$3.57 – $3.79 |
$273.08M |
$263.84M – $282.32M |
4 |
