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Principale » Independent Bank Corporation (NASDAQ:IBCP) Receiving Somewhat Positive News Coverage, Study Finds

Independent Bank Corporation (NASDAQ:IBCP) Receiving Somewhat Positive News Coverage, Study Finds

17 Juillet 2017

About 1.79M shares traded. Juno Therapeutics Inc (NASDAQ:JUNO) has declined 39.85% since July 14, 2016 and is downtrending. It has underperformed by 20.43% the S&P500. Therefore 17% are positive. DA Davidson assumed coverage on Independent Bank Corporation in a research note on Wednesday, July 5th. As per Friday, September 11, the company rating was downgraded by Evercore. The rating was upgraded by TheStreet on Thursday, August 20 to "Hold". The stock's average target of $221.33 is 30.19% above today's ($170) share price. Insiders own 5.72% of the company's stock. Hcp Inc (NYSE:HCP) was raised too. After having $0.84 EPS previously, Independent Bank Group Inc's analysts see -2.38% EPS growth. Independent Bank had 13 analyst reports since July 20, 2015 according to SRatingsIntel. The rating was downgraded by Raymond James to "Mkt Perform" on Tuesday, December 6. The company was maintained on Monday, June 26 by Stephens. Standpoint Research initiated it with "Buy" rating and $47.0 target in Monday, August 24 report. Dougherty & Company maintained GoPro Inc (NASDAQ:GPRO) rating on Friday, February 3. (NASDAQ:INDB) have been given a consensus recommendation of "Hold" by the six ratings firms that are presently covering the stock, MarketBeat Ratings reports. Oppenheimer maintained the stock with "Outperform" rating in Thursday, January 28 report. They expect $-0.35 earnings per share, up 45.31% or $0.29 from last year's $-0.64 per share. The financial services provider reported $0.28 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.28.

Investors sentiment increased to 1.62 in 2016 Q4. Its down 0.82, from 1.42 in 2016Q3.

Several large investors have recently added to or reduced their stakes in INDB. Moreover, Connors Investor Services Inc has 1.68% invested in the company for 74,388 shares. Wealth Architects Limited Liability Com reported 0.11% of its portfolio in Independent Bank Corp (NASDAQ:INDB). Millennium Management Llc holds 0% or 77,969 shares. 700,766 were reported by Northern Corp. Natixis reported 44,884 shares stake. 321.61 million shares or 0.07% more from 321.39 million shares in 2016Q3 were reported. First Tru Advisors Limited Partnership invested in 0.05% or 936,683 shares. Btg Pactual Glob Asset Management invested in 42,672 shares.

Woodley Farra Manion Portfolio Management Inc holds 2.54% of its portfolio in Chubb Ltd for 141,562 shares.

Chubb Limited is a holding company. Hodges Capital Mgmt owns 310,365 shares for 0.89% of their portfolio. Tradewinds Cap Mngmt invested 0% of its portfolio in Juno Therapeutics Inc (NASDAQ:JUNO). Weatherbie Capital Lc has 733,776 shares.

Investors sentiment decreased to 0.95 in 2016 Q4. Independent Bank Corporation has a 1-year low of $14.32 and a 1-year high of $23.65. 29 funds opened positions while 53 raised stakes. Emerald Mutual Fund Advisers Trust stated it has 15,250 shares.

09/05/2014 - Sandler O'Neill began new coverage on Independent Bank Corporation giving the company a "buy" rating. Deprince Race & Zollo holds 0.14% or 337,494 shares in its portfolio. California Public Employees Retirement Sys reported 26,900 shares. Pennsylvania Trust owns 2,973 shares.

Independent Bank Corporation (NASDAQ:IBCP) last posted its quarterly earnings results on Monday, April 24th. Parametric Assoc Llc, a Washington-based fund reported 10,942 shares. State Street Corp raised its position in shares of Independent Bank Corporation by 4.2% in the fourth quarter. Tiaa Cref Inv Management Ltd Liability Co has 64,543 shares. Citigroup holds 0% or 22,080 shares. The Alberta - Canada-based Her Majesty The Queen In Right Of The Province Of Alberta As Represented By Alberta Invest Management Corp has invested 0.1% in Discover Financial Services (NYSE:DFS).

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Independent Bank Corp. had a return on equity of 9.80% and a net margin of 23.62%. About 5,070 shares traded.

Media coverage about Independent Bank Corp. It has outperformed by 22.81% the S&P500.

Since January 25, 2017, it had 0 insider buys, and 7 selling transactions for $1.12 million activity.

Champlain Investment Partners Llc increased Steris Plc stake by 57,115 shares to 1.08 million valued at $73.10M in 2016Q4. Also, Director Kevin J. Jones sold 9,630 shares of the business's stock in a transaction on Friday, April 28th.

In other Independent Bank Corp. news, Director Carl Ribeiro sold 1,000 shares of Independent Bank Corp. stock in a transaction that occurred on Thursday, May 25th.

Independent Bank Corporation is a bank holding company. The Company's principal markets are the rural and suburban communities across lower MI. Piper Jaffray Companies started coverage on Independent Bank Corp.in a research note on Monday, May 15th. It has a 14.27 P/E ratio. Through the Company's subsidiary, Independent Bank, the Company provides a range of commercial banking services and products tailored to meet the needs of businesses, professionals and individuals.

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