Dividend Worth Watching: Nov 15, 2016 is the day that Independent Bank Corporation (NASDAQ:IBCP) shareholders will see dividends of $0.10?

Dividend Worth Watching: Nov 15, 2016 is the day that Independent Bank Corporation (NASDAQ:IBCP) shareholders will see dividends of $0.10?

Independent Bank Corporation (NASDAQ:IBCP) is expected to pay $0.10 on Nov 15, 2016. The indicated annual dividend is $0.40. Shareholders owning the stock before Nov 3, 2016 will be eligible to receive the payout. Based on Independent Bank Corporation’s current price of $16.75, the dividend is 0.60%. This dividend’s record date is Nov 7, 2016 and the announcement date is Oct 26, 2016. The stock decreased 0.30% or $0.05 on November 1, hitting $16.75. Independent Bank Corporation(MI) (NASDAQ:IBCP) has risen 15.12% since March 31, 2016 and is uptrending. It has outperformed by 12.60% the S&P500.

Independent Bank Corporation is a bank holding company. The company has a market cap of $355.36 million. The Firm owns all of the outstanding stock of Independent Bank . It has a 16.59 P/E ratio. The Bank is engaged in providing commercial banking.

Insitutional Activity: The institutional sentiment decreased to 1.35 in Q2 2016. Its down 0.21, from 1.56 in 2016Q1. The ratio fall, as 2 funds sold all Independent Bank Corporation(MI) shares owned while 32 reduced positions. 12 funds bought stakes while 34 increased positions. They now own 16.21 million shares or 1.68% less from 16.49 million shares in 2016Q1.
The Illinois-based Pl Advisors Limited Co has invested 5.19% in Independent Bank Corporation(MI) (NASDAQ:IBCP). Chicago Equity Prns Lc has 82,290 shares for 0.03% of their US portfolio. Wedge Cap Mngmt L Lp Nc has invested 0.01% of its portfolio in Independent Bank Corporation(MI) (NASDAQ:IBCP). California Employees Retirement System holds 0% of its portfolio in Independent Bank Corporation(MI) (NASDAQ:IBCP) for 101,145 shares. Legal & General Gru Public Ltd Co reported 4,284 shares or 0% of all its holdings. Clover Partners L P accumulated 4.92% or 858,260 shares. Endeavour Capital Inc last reported 0.58% of its portfolio in the stock. Kbc Grp Inc Nv owns 9,690 shares or 0% of their US portfolio. Fifth Third Fincl Bank, a Ohio-based fund reported 550 shares. Geode Capital Mngmt Limited Liability holds 0% of its portfolio in Independent Bank Corporation(MI) (NASDAQ:IBCP) for 153,166 shares. Springbok Capital Management Lc holds 0.01% of its portfolio in Independent Bank Corporation(MI) (NASDAQ:IBCP) for 3,900 shares. Blackrock Limited Liability Corp last reported 10,858 shares in the company. Metropolitan Life Ny has 16,613 shares for 0% of their US portfolio. National Bank Of America Corporation De accumulated 0% or 5,913 shares. Rhumbline Advisers has invested 0% of its portfolio in Independent Bank Corporation(MI) (NASDAQ:IBCP).

Insider Transactions: Since May 25, 2016, the stock had 1 insider purchase, and 3 selling transactions for $7,248 net activity. $99,568 worth of Independent Bank Corporation(MI) (NASDAQ:IBCP) was bought by MAGEE MICHAEL M JR on Wednesday, August 31. 1,000 shares were sold by TWAROZYNSKI JAMES J, worth $15,030 on Wednesday, May 25. Kimball Stefanie M sold $44,550 worth of Independent Bank Corporation(MI) (NASDAQ:IBCP) on Tuesday, May 31. On Monday, August 29 the insider Collins Mark L sold $32,740.

Independent Bank Corporation(MI) (NASDAQ:IBCP) Ratings Coverage

Out of 5 analysts covering Independent Bank Corporation (NASDAQ:IBCP), 1 rate it a “Buy”, 0 “Sell”, while 4 “Hold”. This means 20% are positive. Independent Bank Corporation has been the topic of 6 analyst reports since July 29, 2015 according to StockzIntelligence Inc. The stock of Independent Bank Corporation(MI) (NASDAQ:IBCP) earned “Market Perform” rating by FIG Partners on Tuesday, August 11. The rating was initiated by Boenning & Scattergood with “Neutral” on Wednesday, May 4. The stock of Independent Bank Corporation(MI) (NASDAQ:IBCP) has “Hold” rating given on Thursday, August 20 by TheStreet. Hovde Group initiated Independent Bank Corporation(MI) (NASDAQ:IBCP) on Friday, September 23 with “Market Perform” rating. The stock has “Outperform” rating given by Fig Partners on Tuesday, August 11.

More notable recent Independent Bank Corporation(MI) (NASDAQ:IBCP) news were published by: Globenewswire.com which released: “Independent Bank Corporation Announces Date for Its Third Quarter 2016 …” on September 28, 2016, also Globenewswire.com with their article: “Independent Bank Corporation Announces a 25% Increase in Its Quarterly Cash …” published on October 25, 2016, Globenewswire.com published: “Independent Bank Corporation Announces Date for Its Second Quarter 2016 …” on June 28, 2016. More interesting news about Independent Bank Corporation(MI) (NASDAQ:IBCP) were released by: Nasdaq.com and their article: “Independent Bank Corporation Announces Appointment of Patrick Ervin as Senior …” published on September 12, 2016 as well as Seekingalpha.com‘s news article titled: “Independent Bank’s (IBCP) CEO Brad Kessel on Q3 2016 Results – Earnings Call …” with publication date: October 30, 2016.

IBCP Company Profile

Independent Bank Corporation, incorporated on September 17, 1973, is a bank holding company. The Firm 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, a 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 through a separate subsidiary, and investment and insurance services through a third party agreement with Cetera Investment Services LLC.

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