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ValuEngine upgraded Independent Bank Corporation(MI) (NASDAQ:IBCP) to Buy in a report released today.

Yesterday Independent Bank Corporation(MI) (NASDAQ:IBCP) traded 1.34% higher at $20.80. IBCP’s 50-day average is $21.44 and its two hundred day average is $21.18. With the last stock price close down 7.42% relative to the two hundred day average, compared with the Standard & Poor's 500 Index which has increased 0.03% over the date range. Volume of trade was down over the average, with 62,994 shares of IBCP changing hands under the typical 80,106

ValuEngine has upgraded Independent Bank Corporation(MI) (NASDAQ:IBCP) to Buy in a report released on 06/02/2017.

Previously on Wednesday May 31, 2017, Zacks Investment Research reported on Independent Bank Corporation(MI) (NASDAQ:IBCP) increased the target price from $0.00 to $23.00. At the time, this indicated a possible upside of 0.13%.

Performance Chart

Independent Bank Corporation(MI) (NASDAQ:IBCP)

With a total market value of $0, Independent Bank Corporation(MI) has price-earnings ratio of 20.29 with a one year low of $16.45 and a one year high of $23.65 .

A total of 3 analysts have released a research note on IBCP. zero analysts rating the company a strong buy, one analyst rating the company a buy, two analysts rating the company a hold, zero analysts rating the company a underperform, and finally zero analysts rating the company a sell with a one year target of $15.67.

More 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 focuses on commercial banking industry. 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. As of December 31, 2016, the Company's markets were served by the Bank's main office in Grand Rapids, Michigan, and a total of 62 branches, a drive-in facility and 12 loan production offices. The Bank's branches provide lobby and drive-in services, as well as automatic teller machines (ATMs). Its Bank also offers title insurance services through a subsidiary, and investment and insurance services through a third party agreement with Cetera Investment Services LLC.

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