What is INDEPENDENT BANK CORP /MI/ (IBCP)'s PEG ratio?

INDEPENDENT BANK CORP /MI/ (IBCP) has a PEG ratio of 2.04 (Potentially Overvalued), based on a PE ratio of 10.7 and expected EPS growth of 5.2% (5-Year EPS CAGR).

Is IBCP undervalued based on its PEG ratio?

A PEG below 1.0 is conventionally read as potentially undervalued, 1.0–2.0 as fairly valued, and above 2.0 as potentially overvalued relative to growth. At 2.04, INDEPENDENT BANK CORP /MI/ (IBCP) screens as "Potentially Overvalued". PEG is one signal, not investment advice — see the full DCF fair value at evidinvest.com/valuation/IBCP.

INDEPENDENT BANK CORP /MI/ (IBCP) PEG Ratio

Potentially Overvalued

PE ratio relative to earnings growth — is the valuation justified?

2.04

PEG Ratio

PEG ratio is generally unreliable for Financial Services companies — earnings are driven by interest margins and provisions

PEG ratio is generally unreliable for Financial Services companies

2.04

Growth Rate Source

Good Data Quality5-Year EPS CAGR

Current Price

$36.64

TTM EPS

$3.44

P/E Ratio

10.65

Growth Rate

5.2%

5-Year EPS CAGR

Sector

Financial Services

Banks - Regional

Calculated

8/28/2026

7:50:12 PM

Peer Comparison

Sample Size

8 peers

Industry Median PEG

1.73

25th Percentile

0.74

75th Percentile

3.00

IBCP PEG (2.04) vs Industry Median (1.73): 18% premium

Symbol	Company	PEG	P/E	Growth	vs IBCP
HTB	HomeTrust Bancshares, Inc.	0.39	12.2	31.3%	-81%
MBWM	MERCANTILE BANK CORP	0.70	10.5	15.1%	-66%
HBCP	HOME BANCORP, INC.	0.74	11.6	15.7%	-64%
GSBC	GREAT SOUTHERN BANCORP, INC.	1.61	13.1	8.1%	-21%
FRME	FIRST MERCHANTS CORP	1.85	13.4	7.2%	-9%

How to Interpret PEG Ratio

PEG < 1.0 — Potentially Undervalued. The stock may be priced below its earnings growth rate, suggesting a potential buying opportunity.

PEG 1.0–2.0 — Fairly Valued. The stock price is roughly in line with its earnings growth. A PEG of 1.0 is often considered "fair value."

PEG > 2.0 — Potentially Overvalued. The stock may be priced above what its earnings growth justifies.

Limitations:PEG ratios are less reliable for financial firms (earnings driven by interest margins), companies with negative/zero earnings growth, and hypergrowth companies (>100% growth) where the ratio may appear misleadingly low. Always use PEG alongside other valuation metrics.

INDEPENDENT BANK CORP /MI/ (IBCP) PEG Ratio

Peer Comparison

How to Interpret PEG Ratio

More on IBCP

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INDEPENDENT BANK CORP /MI/ (IBCP) PEG Ratio

Peer Comparison

How to Interpret PEG Ratio

More on IBCP

Compare with peers

Explore