IBCP
Independent Bank Corp (Michigan)
Price:  
26.27 
USD
Volume:  
106,034.00
United States | Banks
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IBCP Fair Value

-1.51 %
Upside

As of 2024-05-22, the Fair Value of Independent Bank Corp (Michigan) (IBCP) is 25.87 USD. This value is based on the Peter Lynch's Fair Value formula. With the current market price of 26.27 USD, the upside of Independent Bank Corp (Michigan) is -1.51%.

26.27 USD
Stock Price
25.87 USD
Fair Price
FAIR VALUE CALCULATION

IBCP Fair Value

Peter Lynch's formula is:

IBCP Fair Value
= Earnings Growth Rate x TTM EPS
IBCP Fair Value
= 8.72 x 2.97
IBCP Fair Value
= 25.87

The earnings growth rate we use in the formula is the average growth rate of net income/earnings over the last 5 years. If the average growth rate is smaller than 5%, we set it to 5%. If it is larger than 25%, we set it to 25%. If the TTM EPS is negative, Peter Lynch Fair Value's result can be unreliable.

Historical Earnings
2019-12-31 2020-12-31 2021-12-31 2022-12-31 2023-12-31 5Y Avg
Net income 46.40 56.20 62.90 63.40 59.07 57.59
YoY growth 16.58% 21.12% 11.92% 0.79% -6.83% 8.72%

IBCP Fair Value - Key Data

Market Cap (mil) 549.31
P/E 8.85x
Forward P/E 9.03x
EPS 2.97
Avg earnings growth rate 8.72%
TTM earnings 62.06