1 week Ago By ABMN Staff
Corebridge Financial Inc. lowered its holdings in shares of Independent Bank Co. ( NASDAQ:IBCP – Free Report ) by 7.
0% in the 4th quarter, Holdings Channel.com reports. The firm owned 9,913 shares of the financial services provider’s stock after selling 748 shares during the quarter.
Corebridge Financial Inc.’s holdings in Independent Bank were worth $345,000 as of its most recent filing with the Securities & Exchange Commission. Other institutional investors and hedge funds also recently made changes to their positions in the company.
Vanguard Group Inc. raised its position in Independent Bank by 2.2% in the fourth quarter.
Vanguard Group Inc. now owns 1,218,710 shares of the financial services provider’s stock worth $42,448,000 after acquiring an additional 25,756 shares during the period. KLP Kapitalforvaltning AS bought a new position in Independent Bank in the 4th quarter worth $160,000.
Sei Investments Co. lifted its position in Independent Bank by 8.3% during the fourth quarter.
Sei Investments Co. now owns 102,480 shares of the financial services provider’s stock valued at $3,569,000 after purchasing an additional 7,840 shares in the last quarter. American Century Companies Inc.
grew its holdings in Independent Bank by 11.5% during the fourth quarter. American Century Companies Inc.
now owns 523,614 shares of the financial services provider’s stock valued at $18,237,000 after purchasing an additional 53,938 shares during the period. Finally, Quantbot Technologies LP purchased a new stake in Independent Bank in the fourth quarter worth about $58,000. Hedge funds and other institutional investors own 79.
43% of the company’s stock. Analyst Ratings Changes IBCP has been the subject of a number of recent research reports. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $41.
00 price objective (up from $39.00) on shares of Independent Bank in a research note on Friday, January 24th. DA Davidson increased their price objective on shares of Independent Bank from $37.
00 to $39.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 28th. Independent Bank Stock Performance NASDAQ:IBCP opened at $28.
82 on Friday. The stock has a 50-day moving average price of $32.30 and a 200 day moving average price of $34.
19. The stock has a market capitalization of $604.44 million, a P/E ratio of 9.
12 and a beta of 0.85. Independent Bank Co.
has a 12-month low of $22.53 and a 12-month high of $40.32.
The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.
18. Independent Bank ( NASDAQ:IBCP – Get Free Report ) last announced its quarterly earnings data on Thursday, January 23rd. The financial services provider reported $0.
87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.77 by $0.10.
Independent Bank had a net margin of 20.67% and a return on equity of 15.43%.
Equities research analysts forecast that Independent Bank Co. will post 3.22 EPS for the current fiscal year.
Independent Bank Company Profile ( Free Report ) Independent Bank Corporation operates as the bank holding company for Independent Bank that provides commercial banking services to individuals and businesses in rural and suburban communities in Michigan. It offers checking and savings accounts, commercial lending, direct and indirect consumer financing, mortgage lending, and safe deposit box services. Featured Articles Want to see what other hedge funds are holding IBCP? Visit HoldingsChannel.
com to get the latest 13F filings and insider trades for Independent Bank Co. ( NASDAQ:IBCP – Free Report ). Receive News & Ratings for Independent Bank Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Independent Bank and related companies with MarketBeat.
com's FREE daily email newsletter ..
