Independent Bank Corp (IBCP)

• Market cap: $646M
• 1 day: -0.16%
• 5 days: -2.75%
• 1 month: -8.69%
• 3 months: -10.39%
• 6 months: -2.16%
• Year to date: -10.39%
• 1 year: 27.06%
• 5 years: 146.01%
• 10 years: 138.21%
• Sector: Financials
• Industry: Banks - Regional

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: 834

Fund manager confidence

Based on 2024 Q4 regulatory filings by fund managers ($100M+ AUM)

271% more call options, than puts

Call options by funds: $63K | Put options by funds: $17K

267% more first-time investments, than exits

New positions opened: 33 | Existing positions closed: 9

15% more funds holding

Funds holding: 149 [Q3] → 171 (+22) [Q4]

2% more capital invested

Capital invested by funds: $604M [Q3] → $614M (+$10M) [Q4]

2.28% less ownership

Funds ownership: 86.66% [Q3] → 84.38% (-2.28%) [Q4]

17% less repeat investments, than reductions

Existing positions increased: 50 | Existing positions reduced: 60

50% less funds holding in top 10

Funds holding in top 10: 2 [Q3] → 1 (-1) [Q4]

Research analyst outlook

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

• Low target: $39 27% upside
• Avg. target: $40 30% upside
• High target: $41 33% upside

2 analyst ratings

• positive: 0 0%
• neutral: 2 100%
• negative: 0 0%

DA Davidson Peter Winter 9% 1-year accuracy 1 / 11 met price target	27% upside $39	Neutral Maintained	28 Jan 2025
Keefe, Bruyette & Woods Damon Delmonte 19% 1-year accuracy 5 / 27 met price target	33% upside $41	Market Perform Reiterated	24 Jan 2025