Published On: Mon, Jul 17th, 2017

Independent Bank Corporation (NASDAQ:IBCP) Analyst Recommendation


A number of investment brokers have recently updated their price targets on shares of Independent Bank Corporation (NASDAQ:IBCP).

Most recent broker ratings

07/06/2017 – D.A. Davidson began new coverage on Independent Bank Corporation giving the company a “neutral” rating. They now have a USD 23 price target on the stock.

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.

The share price of Independent Bank Corporation (NASDAQ:IBCP) was down -0.70% during the last day of trading, with a day high of 21.40. 47844 shares were traded during the last session.

The stock’s 50 day moving average is 20.93 and its 200 day moving average is 21.14. The stock’s market capitalization is 452.26M. Independent Bank Corporation has a 52-week low of 14.82 and a 52-week high of 23.65.

Independent Bank Corporation is a bank holding company. The Company owns all of the outstanding stock of Independent Bank (the Bank). The Bank focuses on commercial banking industry. 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. As of December 31, 2016, the Company’s markets were served by the Bank’s main office in Grand Rapids, Michigan, and a total of 62 branches, a drive-in facility and 12 loan production offices. The Bank’s branches provide lobby and drive-in services, as well as automatic teller machines (ATMs). Its Bank also offers title insurance services through a subsidiary, and investment and insurance services through a third party agreement with Cetera Investment Services LLC.