Independent Bank Corp (IBCP)

• Market cap: $719M
• 1 day: -1.29%
• 5 days: 5.94%
• 1 month: -7.75%
• 3 months: -1.49%
• 6 months: 7.97%
• Year to date: 0.15%
• 1 year: 37.96%
• 5 years: 52.64%
• 10 years: 174.26%
• Sector: Financials
• Industry: State Commercial Banks

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 Q3 regulatory filings by fund managers ($100M+ AUM)

67% more first-time investments, than exits

New positions opened: 25 | Existing positions closed: 15

27% more capital invested

Capital invested by funds: $475M [Q2] → $603M (+$128M) [Q3]

11% more repeat investments, than reductions

Existing positions increased: 51 | Existing positions reduced: 46

6% more funds holding

Funds holding: 140 [Q2] → 149 (+9) [Q3]

2.5% more ownership

Funds ownership: 84.17% [Q2] → 86.67% (+2.5%) [Q3]

0% more funds holding in top 10

Funds holding in top 10: 2 [Q2] → 2 (+0) [Q3]

Research analyst outlook

1 Wall Street Analyst provided 1 year price targets over the past 3 months

• Low target: $39 13% upside
• Avg. target: $39 13% upside
• High target: $39 13% upside

1 analyst rating

• positive: 0 0%
• neutral: 1 100%
• negative: 0 0%

Keefe, Bruyette & Woods Damon Delmonte 33% 1-year accuracy 7 / 21 met price target

13% upside $39

Market Perform Maintained

4 Dec 2024