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Independent Bank Corporation(MI) (NASDAQ:IBCP) has been downgraded to Hold in a statement by Zacks Investment Research earlier today.

Showing a price of $16.79, Independent Bank Corporation(MI) (NASDAQ:IBCP) traded -0.24% lower on the day. With the last stock price close up 10.16% from the two hundred day average, compared with the Standard & Poor's 500 Index which has decreased -0.01% over the same time period. IBCP has recorded a 50-day moving average of $16.33 and a 200-day moving average of $15.24. 44,214 shares of Independent Bank Corporation(MI) exchanged hands, down from an avg. volume of 66,502

Zacks Investment Research has downgraded Independent Bank Corporation(MI) (NASDAQ:IBCP) to Hold in a statement released on Monday October 03, 2016.

On 9/23/2016, Hovde Group released a statement about Independent Bank Corporation(MI) (NASDAQ:IBCP) upped the target price from $0.00 to $17.50 that suggested an upside of 0.05%.

Recent Performance Chart

Independent Bank Corporation(MI) (NASDAQ:IBCP)

Independent Bank Corporation(MI) has PE ratio of 17.79 with a one year low of $13.42 and a 52 week high of $17.00 and has a market cap of $0.

In addition to Zacks Investment Research reporting its stock price target, a total of 3 brokers have issued a research note on the company. The average stock price target is $15.67 with 0 brokers rating the stock a strong buy, 1 broker rating the stock a buy, 2 brokers rating the stock a hold, 0 brokers rating the stock a underperform, and finally 0 brokers rating the stock a sell.

General Information About Independent Bank Corporation(MI) (NASDAQ:IBCP)

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 providing 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 Company's principal markets are the rural and suburban communities across Lower Michigan, which are served by the Bank's main office in Grand Rapids, Michigan, and a total of approximately 60 branches, over one drive-in facility and approximately eight loan production offices. The Bank's branches provide lobby and drive-in services, as well as automatic teller machines (ATMs). In addition to general banking services, its Bank also offers title insurance services and investment services.

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