Joan Budden Insider Purchase for 5,065 Shares of Independent Bank Corporation(MI) (NASDAQ:IBCP)

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Joan Budden Insider Purchase for 5065 Shares of Independent Bank Corporation (NASDAQIBCP)-Transactions

Joan Budden Insider Buy Transaction

In a form that was submitted to the Security Exchange Commission, it was published that the director of Independent Bank Corporation(MI) (NASDAQ:IBCP) Joan Budden, an insider in spotlight, made an acquision for 5,065 shares of the public company, worth approx. $75,199 U.S Dollars using an average share price of $14.8 U.S Dollars. Now, Joan Budden holds a total of 5,065 shares or 0.02% of the company’s total market capitalization.

Independent Bank Corp Stock Rating, Sentiment and Fundamentals

The three Wall Street analysts covering the credit intermediation and related activities’s company’s fundamental health expect the Independent Bank Corp’s earnings for each share at $0.88 for the reporting year 2015. This will give it PE ratio of about 16.73 & growth rate YOY of 0.00%-plus.

Rating & Sentiment
PsychSignal Social:SELL
Analysts Rating:BUY
Hedge Funds Sentiment:BUY
Stock Fundamentals
Earnings + FCF Trend:SELL
Sector/Industry Macro:BULLISH
Valuation Models:-
Technical Analysis
ST Trend:UP
MT Trend:UP
LT Trend:UP
OctaFinance Rating*:BUY

* Read How Our Stock Ratings System Works

The share price of Independent Bank Corp is skyrocketing with no signs of trend change after 20.24% move over the last 200 days. We don’t simply rate the stock as a -BUY- because of Joan’s new transaction. We also rate it in accordance to our trend model.

Price Chart of Independent Bank Corporation MI Stock

Joan Budden Insider Purchase for 5065 Shares of Independent Bank Corporation (NASDAQIBCP)-Stock-Price-Chart

Source: RightEdgeSystems, Yahoo Split & Dividend Adjusted Data and OctaFinance Interpretations

The consensus of the legendary stock traders has always been that a mix of fundamental and technical analysis allows for the most profitable trading, epitomized by Felix Zulauf.

Hedge Funds Ownership

Review of 13F SEC filings show that 90 investment managers own Independent Bank Corp. In Q2 2015, Independent Bank Corp had 79.48% institutional ownership. That is a high interest. Its up 2.17% from Q1 2015. These hedge funds increased the total shares they own by 382,840 to 17.99 million this quarter. There were 15 funds that created new positions and 27 funds that added to their positions. A total of 2 funds closed their positions in Independent Bank Corp and 25 reduced their holdings.

Two [HF3951] have the company in their Top 10. Some of these are: Maltese Capital Management Llc, Pl Capital Advisors Llc.


Maltese Capital Management Llc had the greatest investment with ownership of 1.51 million shares as of Q2 2015 for 2.30% of the fund’s portfolio. Pl Capital Advisors Llc is another bullish institutional investor having 1.08 million shares of the company or 5.30% of their stocks portfolio. The stock is also 6.6% of the fund’s AUM. Stieven Capital Advisors L.P. have 1.92% of their stock portfolio invested in the company for 485,537 shares. In addition, Fred Cummings’s Elizabeth Park Capital Advisors Ltd. revealed it had acquired a stake worth 1.86% of the fund’s stock portfolio in the company. Clover Partners L.P. was also a notable believer in the -listed company, owning 364,600 shares. Independent Bank Corp is 2.41% of the fund’s stock portfolio.

Independent Bank Corporation MI Company Profile

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.

Company Website: Independent Bank Corporation

The firm has 700 employees. At the moment its market capitalization is: $335.83 million and it has 22.94 million outstanding shares. Today the company has 79.45% shareholders and the institutional ownership stands at 79.45%. Independent Bank Corp was incorporated in Michigan on 1973-09-17. The stock closed at $14.64 yesterday and it had average 2 days volume of 40434 shares. It is up from the 30 days average shares volume of 38720. Independent Bank Corp has a 250 days low of $11.49 and a 250 days high of $15.27. The stock price is above the 200 days SMA. Independent Bank Corp last issued its quarterly earnings information on 07/27/2015. The company reported 0.24 EPS for the quarter, above the consensus estimate of 0.21 by 0.03. The company had a revenue of 31.12 million for 6/30/2015 and 28.51 million for 3/31/2015. Therefore, the revenue was 2.60 million up.

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