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 Video: Compound Annual Growth Rate (CAGR) Definition
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| Date |
Open |
High |
Low |
Close |
Volume |
| 04/15/2024 |
$23.49 |
$23.59 |
$22.81 |
$23.14 |
136.80K | | 04/16/2024 |
$22.90 |
$23.33 |
$22.76 |
$23.25 |
54.70K | | 04/17/2024 |
$23.44 |
$23.73 |
$23.13 |
$23.20 |
48.20K | | 04/18/2024 |
$23.18 |
$23.63 |
$23.18 |
$23.58 |
59.50K | | 04/19/2024 |
$23.43 |
$24.36 |
$23.43 |
$24.36 |
54.50K |
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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. | |
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Independent Bank (IBCP) has the following price history information. Looking back at IBCP historical stock prices for the last five trading days, on April 15, 2024, IBCP opened at $23.49, traded as high as $23.59 and as low as $22.81, and closed at $23.14. Trading volume was a total of 136.80K shares. On April 16, 2024, IBCP opened at $22.90, traded as high as $23.33 and as low as $22.76, and closed at $23.25. Trading volume was a total of 54.70K shares. On April 17, 2024, IBCP opened at $23.44, traded as high as $23.73 and as low as $23.13, and closed at $23.20. Trading volume was a total of 48.20K shares. On April 18, 2024, IBCP opened at $23.18, traded as high as $23.63 and as low as $23.18, and closed at $23.58. Trading volume was a total of 59.50K shares. On April 19, 2024, IBCP opened at $23.43, traded as high as $24.36 and as low as $23.43, and closed at $24.36. Trading volume was a total of 54.50K shares.
IBCP Historical Stock Prices By Date:
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, and working forward through the historical stock price information to today.
Growth of $10,000.00
With Dividends Reinvested
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| Start date: |
04/22/2014 |
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| End date: |
04/19/2024 |
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| Start price/share: |
$12.68 |
|
| End price/share: |
$24.36 |
|
| Starting shares: |
788.64 |
|
| Ending shares: |
1,084.44 |
|
| Dividends reinvested/share: |
$6.20 |
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| Total return: |
164.17% |
|
| Average Annual Total Return: |
10.20% |
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| Starting investment: |
$10,000.00 |
|
| Ending investment: |
$26,412.89 |
|
| Years: |
10.00 |
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Growth of $10,000.00
Without Dividends Reinvested
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| Start date: |
04/22/2014 |
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| End date: |
04/19/2024 |
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| Start price/share: |
$12.68 |
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| End price/share: |
$24.36 |
|
| Dividends collected/share: |
$6.20 |
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| Total return: |
141.01% |
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| Average Annual Total Return: |
9.20% |
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| Starting investment: |
$10,000.00 |
|
| Ending investment: |
$24,111.62 |
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| Years: |
10.00 |
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|
| Date |
Close |
| 04/15/2024 | $23.14 | | 04/16/2024 | $23.25 | | 04/17/2024 | $23.20 | | 04/18/2024 | $23.58 | | 04/19/2024 | $24.36 |
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