Independent Bank (US:IBCP) ZACKSยท2024-06-19 16:45Group 1: Company Overview - Independent Bank (IBCP) is headquartered in Grand Rapids and has experienced a price change of -7.42% this year [3] - The bank is currently paying a dividend of $0.24 per share, resulting in a dividend yield of 3.99%, which is higher than the Banks - Midwest industry's yield of 3.71% and the S&P 500's yield of 1.61% [3] Group 2: Dividend Information - The current annualized dividend of Independent Bank is $0.96, reflecting a 4.3% increase from the previous year [4] - Over the past 5 years, the bank has increased its dividend 5 times, averaging an annual increase of 5.74% [4] - The current payout ratio for Independent Bank is 31%, indicating that it pays out 31% of its trailing 12-month EPS as dividends [4] Group 3: Earnings Growth - The Zacks Consensus Estimate for Independent Bank's earnings in 2024 is $2.96 per share, representing a year-over-year growth rate of 1.02% [5] Group 4: Investment Perspective - Dividends are favored by investors for various reasons, including improving stock investing profits and providing tax advantages [6] - High-yielding stocks may struggle during periods of rising interest rates, but Independent Bank is considered a compelling investment opportunity due to its strong dividend profile [7] - The stock currently holds a Zacks Rank of 3 (Hold) [7]