Independent Bank CorpIBCP
About: Independent Bank Corp (Ionia MI) operates as a commercial bank. It offers a broad 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. It also provides internet and mobile banking capabilities to its customers.
Employees: 832
Fund manager confidence
Based on 2024 Q2 SEC filings by fund managers ($100M+ AUM)
71% more first-time investments, than exits
New positions opened: 24 | Existing positions closed: 14
18% more repeat investments, than reductions
Existing positions increased: 52 | Existing positions reduced: 44
8% more funds holding
Funds holding: 130 [Q1] → 140 (+10) [Q2]
7% more capital invested
Capital invested by funds: $430M [Q1] → $458M (+$28M) [Q2]
0.04% more ownership
Funds ownership: 81.17% [Q1] → 81.21% (+0.04%) [Q2]
0% more funds holding in top 10
Funds holding in top 10: 2 [Q1] → 2 (+0) [Q2]
Research analyst outlook
2 Wall Street Analysts provided 1 year price targets over the past 3 months
2 analyst ratings
Keefe, Bruyette & Woods Damon Delmonte 58% 1-year accuracy 7 / 12 met price target | 9%downside $31 | Market Perform Reiterated | 29 Jul 2024 |
Piper Sandler Nathan Race 67% 1-year accuracy 12 / 18 met price target | 10%upside $38 | Neutral Maintained | 29 Jul 2024 |