Independent Bank: Fairly Valued With A Stable Earnings Outlook

Earnings of Independent Bank Corporation (NASDAQ: IBCP ) will likely benefit from the management's efforts to boost loan growth. On the other hand, interest rate cuts will pressure the net interest margin, which will, in turn, restrict earnings growth. Overall, I'm expecting the EPS to grow by 8.6% to $3.03 Analyst's Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this artic ...