William Kessel Sells 2,000 Shares of Independent Bank (NASDAQ:IBCP) Stock

18 Sep 2026, 05:54 by Renee Jackson · The Cerbat Gem

Independent Bank Corporation (NASDAQ:IBCP – Get Free Report) CEO William Kessel sold 2,000 shares of the company’s stock in a transaction dated Tuesday, September 15th. The shares were sold at an average price of $37.28, for a total transaction of $74,560.00. Following the completion of the sale, the chief executive officer owned 157,836 shares in the company, valued at approximately $5,884,126.08. This trade represents a 1.25% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Independent Bank Stock Down 0.7%

NASDAQ:IBCP opened at $36.22 on Friday. The company has a market capitalization of $804.08 million, a price-to-earnings ratio of 10.53 and a beta of 0.70. Independent Bank Corporation has a one year low of $29.83 and a one year high of $39.24. The stock has a 50-day simple moving average of $37.28 and a 200 day simple moving average of $35.26. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.94 and a current ratio of 0.95.

Independent Bank (NASDAQ:IBCP – Get Free Report) last announced its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $0.90 earnings per share for the quarter, beating the consensus estimate of $0.84 by $0.06. Independent Bank had a return on equity of 14.12% and a net margin of 22.32%.The firm had revenue of $61.64 million during the quarter, compared to analyst estimates of $60.08 million. During the same period in the previous year, the company earned $0.81 earnings per share. Sell-side analysts predict that Independent Bank Corporation will post 3.59 EPS for the current fiscal year.

Independent Bank Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Tuesday, August 4th were given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 3.1%. The ex-dividend date of this dividend was Tuesday, August 4th. Independent Bank’s dividend payout ratio is currently 32.56%.

Analyst Ratings Changes

A number of research firms have commented on IBCP. Piper Sandler lifted their price objective on shares of Independent Bank from $37.00 to $42.00 and gave the stock a “neutral” rating in a report on Monday, July 27th. Weiss Ratings reissued a “buy (b)” rating on shares of Independent Bank in a report on Friday, September 4th. Hovde Group upgraded shares of Independent Bank from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $36.00 to $41.00 in a research report on Friday, July 10th. Finally, Keefe, Bruyette & Woods lifted their price target on shares of Independent Bank from $37.00 to $38.00 and gave the company a “market perform” rating in a report on Friday, July 24th. Two analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $39.50.

Check Out Our Latest Research Report on IBCP

Hedge Funds Weigh In On Independent Bank

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Algebris UK Ltd. bought a new position in shares of Independent Bank in the fourth quarter worth $6,943,000. Arrowstreet Capital Limited Partnership increased its holdings in shares of Independent Bank by 20.3% during the first quarter. Arrowstreet Capital Limited Partnership now owns 181,515 shares of the financial services provider’s stock valued at $6,044,000 after purchasing an additional 30,582 shares during the period. Maltese Capital Management LLC raised its stake in shares of Independent Bank by 8.7% during the fourth quarter. Maltese Capital Management LLC now owns 168,500 shares of the financial services provider’s stock valued at $5,481,000 after purchasing an additional 13,500 shares in the last quarter. Sei Investments Co. raised its stake in shares of Independent Bank by 35.5% during the first quarter. Sei Investments Co. now owns 110,479 shares of the financial services provider’s stock valued at $3,679,000 after purchasing an additional 28,961 shares in the last quarter. Finally, Bank of America Corp DE lifted its holdings in Independent Bank by 50.6% in the first quarter. Bank of America Corp DE now owns 91,106 shares of the financial services provider’s stock worth $3,034,000 after purchasing an additional 30,622 shares during the period. 79.43% of the stock is owned by institutional investors.

About Independent Bank

(Get Free Report)

Independent Bank Corporation (NASDAQ: IBCP) is a Michigan-based bank holding company whose principal subsidiary, Independent Bank, provides banking and financial services to individuals, families, businesses and institutions. The company operates as a community bank, emphasizing local decision-making and relationship-based service.