Published On: Wed, Oct 19th, 2016

Analyst Coverage: Independent Bank Corporation (NASDAQ:IBCP)


Recently stock market analysts have updated their consensus ratings on shares of Independent Bank Corporation (NASDAQ:IBCP).

Most recent broker ratings

09/23/2016 – Independent Bank Corporation had its “market perform” rating reiterated by analysts at Hovde Group.

05/04/2016 – Boenning & Scattergood began new coverage on Independent Bank Corporation giving the company a “neutral” rating.

08/11/2015 – Independent Bank Corporation was downgraded to “market perform” by analysts at FIG Partners.

07/28/2015 – Independent Bank Corporation had its “market perform” rating reiterated by analysts at Keefe, Bruyette & Woods. They now have a USD 14 price target on the stock.

05/01/2015 – Independent Bank Corporation was upgraded to “buy” by analysts at Zacks. They now have a USD 15 price target on the stock.

09/05/2014 – Sandler O’Neill began new coverage on Independent Bank Corporation giving the company a “buy” rating. They now have a USD 14 price target on the stock.

01/14/2014 – Independent Bank Corporation had its “neutral” rating reiterated by analysts at Guggenheim. They now have a USD 38 price target on the stock.

Independent Bank Corporation has a 50 day moving average of 16.48 and a 200 day moving average of 15.40. The stock’s market capitalization is 353.15M, it has a 52-week low of 13.42 and a 52-week high of 17.20.

The share price of the company (NASDAQ:IBCP) was up +0.06%, with a high of 16.71during the day and the volume of Independent Bank Corporation shares traded was 31666.

Independent Bank Corporation is a bank holding company. The Company owns all of the outstanding stock of Independent Bank (the Bank). The Bank is engaged in providing commercial banking. The Bank offers a range of 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. The Company’s principal markets are the rural and suburban communities across Lower Michigan, which are served by the Bank’s main office in Grand Rapids, Michigan, and a total of approximately 60 branches, over one drive-in facility and approximately eight loan production offices. The Bank’s branches provide lobby and drive-in services, as well as automatic teller machines (ATMs). In addition to general banking services, its Bank also offers title insurance services and investment services.