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 Video: What is a Stock Split?
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| Independent Bank is a bank holding company. Through its subsidiary, Independent Bank (the bank), Co. transacts business in the single industry of commercial banking. Co. provides banking services to individuals and businesses, including checking and savings accounts, commercial lending, direct and indirect consumer financing, mortgage lending, and safe deposit box services. Co.'s bank does not provide trust services. Co.'s principal markets are the rural and suburban communities across Lower Michigan. Majority of Co.'s bank's branches provide lobby and drive-thru services, as well as automatic teller machines. Co. also provides internet and mobile banking capabilities to its customers. According to our IBCP split history records, Independent Bank has had 13 splits. | |
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Independent Bank (IBCP) has 13 splits in our IBCP split history database. The first split for IBCP took place on October 02, 1996. This was a 21 for 20
split, meaning for each 20
shares of IBCP owned pre-split, the shareholder now owned 21 shares. For example, a 1000 share position pre-split, became a 1050 share position following the split. IBCP's second split took place on May 01, 1997. This was a 3 for 2
split, meaning for each 2
shares of IBCP owned pre-split, the shareholder now owned 3 shares. For example, a 1050 share position pre-split, became a 1575 share position following the split. IBCP's third split took place on October 01, 1997. This was a 21 for 20
split, meaning for each 20
shares of IBCP owned pre-split, the shareholder now owned 21 shares. For example, a 1575 share position pre-split, became a 1653.75 share position following the split. IBCP's 4th split took place on July 01, 1998. This was a 3 for 2
split, meaning for each 2
shares of IBCP owned pre-split, the shareholder now owned 3 shares. For example, a 1653.75 share position pre-split, became a 2480.625 share position following the split. IBCP's 5th split took place on October 01, 1998. This was a 21 for 20
split, meaning for each 20
shares of IBCP owned pre-split, the shareholder now owned 21 shares. For example, a 2480.625 share position pre-split, became a 2604.65625 share position following the split. IBCP's 6th split took place on October 01, 1999. This was a 105 for 100
split, meaning for each 100
shares of IBCP owned pre-split, the shareholder now owned 105 shares. For example, a 2604.65625 share position pre-split, became a 2734.8890625 share position following the split. IBCP's 7th split took place on October 03, 2000. This was a 105 for 100 split, meaning for each 100 shares of IBCP owned pre-split, the shareholder now owned 105 shares. For example, a 2734.8890625 share position pre-split, became a 2871.633515625 share position following the split. IBCP's 8th split took place on October 03, 2001. This was a 105 for 100 split, meaning for each 100 shares of IBCP owned pre-split, the shareholder now owned 105 shares. For example, a 2871.633515625 share position pre-split, became a 3015.21519140625 share position following the split. IBCP's 9th split took place on October 02, 2002. This was a 105 for 100 split, meaning for each 100 shares of IBCP owned pre-split, the shareholder now owned 105 shares. For example, a 3015.21519140625 share position pre-split, became a 3165.97595097656 share position following the split. IBCP's 10th split took place on January 02, 2003. This was a 3 for 2 split, meaning for each 2 shares of IBCP owned pre-split, the shareholder now owned 3 shares. For example, a 3165.97595097656 share position pre-split, became a 4748.96392646484 share position following the split. IBCP's 11th split took place on October 02, 2003. This was a 11 for 10 split, meaning for each 10 shares of IBCP owned pre-split, the shareholder now owned 11 shares. For example, a 4748.96392646484 share position pre-split, became a 5223.86031911133 share position following the split. IBCP's 12th split took place on September 01, 2005. This was a 105 for 100 split, meaning for each 100 shares of IBCP owned pre-split, the shareholder now owned 105 shares. For example, a 5223.86031911133 share position pre-split, became a 5485.0533350669 share position following the split. IBCP's 13th split took place on August 31, 2006. This was a 105 for 100 split, meaning for each 100 shares of IBCP owned pre-split, the shareholder now owned 105 shares. For example, a 5485.0533350669 share position pre-split, became a 5759.30600182024 share position following the split.
When a company such as Independent Bank splits its shares, the market capitalization before and after the split takes place remains stable, meaning the shareholder now owns more shares but each are valued at a lower price per share. Often, however, a lower priced stock on a per-share basis can attract a wider range of buyers. If that increased demand causes the share price to appreciate, then the total market capitalization rises post-split. This does not always happen, however, often depending on the underlying fundamentals of the business.
Looking at the IBCP split history from start to finish, an original position size of 1000 shares would have turned into 5759.30600182024 today. Below, we examine the compound annual growth rate — CAGR for short — of an investment into Independent Bank shares, starting with a $10,000 purchase of IBCP, presented on a split-history-adjusted basis factoring in the complete IBCP split history.
Growth of $10,000.00
With Dividends Reinvested
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| Start date: |
04/29/2014 |
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| End date: |
04/26/2024 |
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| Start price/share: |
$12.71 |
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| End price/share: |
$24.99 |
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| Starting shares: |
786.78 |
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| Ending shares: |
1,076.82 |
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| Dividends reinvested/share: |
$6.14 |
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| Total return: |
169.10% |
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| Average Annual Total Return: |
10.41% |
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| Starting investment: |
$10,000.00 |
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| Ending investment: |
$26,920.56 |
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| Years: |
10.00 |
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Growth of $10,000.00
Without Dividends Reinvested
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| Start date: |
04/29/2014 |
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| End date: |
04/26/2024 |
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| Start price/share: |
$12.71 |
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| End price/share: |
$24.99 |
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| Dividends collected/share: |
$6.14 |
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| Total return: |
144.93% |
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| Average Annual Total Return: |
9.37% |
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| Starting investment: |
$10,000.00 |
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| Ending investment: |
$24,489.62 |
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| Years: |
10.00 |
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| Date |
Ratio |
| 10/02/1996 | 21 for 20
| | 05/01/1997 | 3 for 2
| | 10/01/1997 | 21 for 20
| | 07/01/1998 | 3 for 2
| | 10/01/1998 | 21 for 20
| | 10/01/1999 | 105 for 100
| | 10/03/2000 | 105 for 100 | | 10/03/2001 | 105 for 100 | | 10/02/2002 | 105 for 100 | | 01/02/2003 | 3 for 2 | | 10/02/2003 | 11 for 10 | | 09/01/2005 | 105 for 100 | | 08/31/2006 | 105 for 100 |
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