Is Independent Bank Corp. (Michigan) overvalued or undervalued?

Jun 25 2025 08:04 AM IST
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As of May 14, 2025, Independent Bank Corp. (Michigan) is fairly valued with a P/E ratio of 10, a Price to Book Value of 1.39, and an EV to EBIT of 8.37, outperforming the S&P 500 with a 1-year return of 31.07%.
As of 14 May 2025, the valuation grade for Independent Bank Corp. (Michigan) has moved from expensive to fair. The company is currently fairly valued. Key ratios include a P/E ratio of 10, a Price to Book Value of 1.39, and an EV to EBIT of 8.37. In comparison to peers, Central Pacific Financial Corp. has a higher P/E of 11.97, while Horizon Bancorp, Inc. stands out with an attractive P/E of 14.00.

The company's recent stock performance shows a 1-year return of 31.07%, significantly outperforming the S&P 500's return of 10.26% over the same period, which reinforces the valuation story. Overall, Independent Bank Corp. (Michigan) appears to be positioned well within its industry, reflecting a fair valuation based on its current metrics.
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