Independent Bank Corporation(MI) (NASDAQ:IBCP) had declared a cash dividend of $0.0800 on Jul 26, 2016. The shares will quote ex-dividend on Aug 4, 2016 and the record date has been fixed for Aug 8, 2016. On Jul 26, 2016 share price, the yield comes out to be 2.1405%. The dividend payable date has been fixed on Aug 15, 2016.
In a different note, Boenning & Scattergood said it Initiates Coverage on Independent Bank Corporation(MI), according to a research note issued on May 4, 2016. The shares have been rated ‘Neutral’ by the firm. Boenning & Scattergood said it Initiates Coverage on Independent Bank Corporation(MI), according to a research note issued on May 4, 2016. The shares have been rated ‘Neutral’ by the firm.
Independent Bank Corporation(MI) (IBCP) made into the market gainers list on Fridays trading session with the shares advancing 1.05% or 0.16 points. Due to strong positive momentum, the stock ended at $15.38, which is also near the day’s high of $15.38. The stock began the session at $15.18 and the volume stood at 2,22,635 shares. The 52-week high of the shares is $16.15 and the 52 week low is $13.35. The company has a current market capitalization of $327 M and it has 2,12,62,815 shares in outstanding.
Independent Bank Corporation(MI)(IBCP) last announced its earnings results on Apr 25, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $19.76M. Analysts had an estimated revenue of $19.17M. Earnings per share were $0.19. Analysts had estimated an EPS of $0.20.
Several Insider Transactions has been reported to the SEC. On Jun 2, 2016, Stefanie M Kimball (Executive Vice President) sold 3,000 shares at $14.85 per share price.Also, On May 26, 2016, James J Twarozynski (Senior Vice President) sold 1,000 shares at $15.03 per share price.On Mar 16, 2016, William B Kessel (President & CEO) sold 1,500 shares at $14.64 per share price, according to the Form-4 filing with the securities and exchange commission.
Independent Bank Corporation is a bank holding company. The Company owns all of the outstanding stock of Independent Bank (the Bank). The Bank is engaged in commercial banking. The Bank offers a 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. The Bank does not offer trust services. The Company’s principal markets are the rural and suburban communities across Lower Michigan. In addition to general banking services its Bank also offers title insurance services through a separate subsidiary and investment and insurance services through a third party agreement with Cetera Investment Services LLC.