On May 15, 2018 Independent Bank Corp (NASDAQ:IBCP) trading at 23.65 will pay $0.15 dividend

May 3, 2018 - By Gregory Tomko

Independent Bank Corporation (NASDAQ:IBCP) Corporate Logo
During Q4 2017 the big money sentiment increased to 1.42. That’s change of 0.05, from 2017Q3’s 1.37. 9 investors sold all, 36 reduced holdings as Independent Bank Corporation ratio is positive. 43 rose holdings while 21 funds amassed holdings. Funds hold 16.84 million shares thus 0.76% less from 2017Q3’s 16.96 million shares.
Bank Of America De holds 66,550 shs. Boston Prtn, a Massachusetts-based fund reported 253,700 shs. Fny Managed Accounts holds 0% of its capital in Independent Bank Corporation (NASDAQ:IBCP) for 110 shs. The Ohio-based Victory Cap Mgmt has invested 0% in Independent Bank Corporation (NASDAQ:IBCP). Dimensional Fund Advisors Lp, a Texas-based fund reported 406,696 shs. Adams Diversified Equity Fund holds 0.04% of its capital in Independent Bank Corporation (NASDAQ:IBCP) for 36,600 shs. Fifth Third Commercial Bank has 0% invested in Independent Bank Corporation (NASDAQ:IBCP). 373,321 were accumulated by Lsv Asset Management. Chicago Equity Ltd Llc holds 79,255 shs. Invesco Limited has invested 0% in Independent Bank Corporation (NASDAQ:IBCP). Strs Ohio owns 31,500 shs. Morgan Stanley invested in 404,943 shs. Tiaa Cref Inv Management Ltd Liability owns 50,507 shs. Tokio Marine Asset Mgmt Com Limited holds 48,400 shs or 0.16% of its capital. Pinnacle Hldg Ltd Limited Liability Company invested in 0.41% or 50,273 shs.

Independent Bank Corporation had 2 sales and 0 insider buys since April 27, 2018. This’s net activity of $79,803. SHUSTER ROBERT N sold $35,596 worth of Independent Bank Corporation (NASDAQ:IBCP) or 1,447 shs on Friday, April 27.

On May 15, 2018 $0.15 dividend is expected to be distributed by Independent Bank Corp (NASDAQ:IBCP), as reported by RTT. Shareholders before May 4, 2018 will be eligible to receive the dividend payment. The dividend is 0.63 % based on Independent Bank Corp’s price of $23.65. It has May 7, 2018 record date and Apr 24, 2018 announcement date. The stock decreased 0.21% or $0.05 during the last trading session, touching $23.65.Independent Bank Corporation is uptrending after having risen 15.08% since May 3, 2017. IBCP has 281,622 volume or 177.48% up from normal. IBCP outperformed by 3.53% the S&P 500.

Independent Bank Corporation operates as the bank holding firm for Independent Bank that provides various banking services to individuals and businesses in Michigan.The company has $505.51 million market cap. The firm also offers checking and savings accounts, commercial lending, direct and indirect consumer financing, mortgage lending, and safe deposit box services, as well as automatic teller machines, and Internet and mobile banking services.24.89 is the P/E ratio. It also provides title insurance, and investment and insurance services; and acquires and services payment plans used by clients to purchase vehicle service contracts provided and administered by third parties.

Independent Bank Corporation (NASDAQ:IBCP) Ratings Coverage

In total 3 analysts cover Independent Bank Corporation (NASDAQ:IBCP). “Buy” rating has 1, “Sell” are 0, while 2 are “Hold”. 33% are bullish. With $2600 highest and $24.0 lowest price target Independent Bank Corporation has $26 average price target or 9.94% above the current ($23.65) price. 6 are the (NASDAQ:IBCP)’s analyst reports since December 6, 2017 according to StockzIntelligence Inc. In Monday, December 18 report Compass Point upgraded the stock to “Buy” rating. The stock rating was maintained by Keefe Bruyette & Woods with “Hold” on Monday, April 23. On Thursday, December 21 Keefe Bruyette & Woods maintained Independent Bank Corporation (NASDAQ:IBCP) rating. Keefe Bruyette & Woods has “Hold” rating and $25.0 target. On Wednesday, January 31 the firm has “Hold” rating given by Hovde Group. On Tuesday, April 24 Hovde Group maintained Independent Bank Corporation (NASDAQ:IBCP) rating. Hovde Group has “Hold” rating and $2600 target. On Wednesday, December 6 the stock of Independent Bank Corporation (NASDAQ:IBCP) has “Hold” rating given by Keefe Bruyette & Woods.

Independent Bank Corporation (NASDAQ:IBCP) Institutional Investors Chart

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