Independent Bank (IBCP) Reaches $24.35 52-Week High; Bsquare (BSQR) Has 2 Sentiment

March 16, 2018 - By Adrian Erickson

The stock of Independent Bank Corporation (NASDAQ:IBCP) hit a new 52-week high and has $26.05 target or 7.00% above today’s $24.35 share price. The 9 months bullish chart indicates low risk for the $520.44 million company. The 1-year high was reported on Mar, 16 by If the $26.05 price target is reached, the company will be worth $36.43M more. The stock increased 0.62% or $0.15 during the last trading session, reaching $24.35. About 31,794 shares traded. Independent Bank Corporation (NASDAQ:IBCP) has risen 39.51% since March 16, 2017 and is uptrending. It has outperformed by 22.81% the S&P500.

BSQUARE Corporation provides software solutions and related engineering services to businesses that develop, market, and sell standalone intelligent systems in North America, Asia, and Europe. The company has market cap of $48.77 million. The Company’s software products include HTML5 rendering engine that is based on the open-source WebKit platform and facilitates device makers to create applications and user interfaces for their devices; and TestQuest 10, a software testing automation tool. It currently has negative earnings. The firm also offers DataV software Services, such as integration with enterprise databases; integration with internal enterprise systems; integration with external public or third-party data sources; custom application development; management of customer cloud instances hosting DataV software; training; and software integration on remote devices.

Investors sentiment increased to 1.42 in Q3 2017. Its up 0.05, from 1.37 in 2017Q2. It is positive, as 8 investors sold Independent Bank Corporation shares while 30 reduced holdings. 14 funds opened positions while 38 raised stakes. 16.96 million shares or 0.60% more from 16.86 million shares in 2017Q2 were reported. 1.73M were accumulated by Blackrock Inc. Ajo Limited Partnership reported 0.03% in Independent Bank Corporation (NASDAQ:IBCP). Wedge Capital L Ltd Partnership Nc invested in 84,927 shares. Panagora Asset, a Massachusetts-based fund reported 246,693 shares. Manufacturers Life Insur Company The has 564,921 shares. 1,800 were reported by Thompson Siegel & Walmsley Ltd Llc. Virtu Lc stated it has 13,176 shares or 0% of all its holdings. State Street Corporation has 583,978 shares. Loomis Sayles Company Lp invested in 14 shares or 0% of the stock. Clover Ltd Partnership has 4.82% invested in Independent Bank Corporation (NASDAQ:IBCP) for 530,687 shares. Pnc Fincl Ser Gp reported 89 shares. Fny Managed Accounts Limited Liability Com holds 0.01% or 440 shares. Legal And General Grp Public Limited Company holds 5,614 shares or 0% of its portfolio. Credit Suisse Ag has 30,178 shares for 0% of their portfolio. Adams Diversified Equity Fund has invested 0.06% of its portfolio in Independent Bank Corporation (NASDAQ:IBCP).

Among 8 analysts covering Independent Bank Corporation (NASDAQ:IBCP), 2 have Buy rating, 0 Sell and 6 Hold. Therefore 25% are positive. Independent Bank Corporation has $25.0 highest and $14 lowest target. $21.75’s average target is -10.68% below currents $24.35 stock price. Independent Bank Corporation had 13 analyst reports since July 29, 2015 according to SRatingsIntel. The stock of Independent Bank Corporation (NASDAQ:IBCP) has “Hold” rating given on Wednesday, December 6 by Keefe Bruyette & Woods. The firm has “Hold” rating by Hovde Group given on Wednesday, January 31. The firm has “Market Perform” rating given on Tuesday, August 11 by FIG Partners. The rating was upgraded by Compass Point to “Buy” on Monday, December 18. The rating was initiated by Boenning & Scattergood with “Neutral” on Wednesday, May 4. Keefe Bruyette & Woods maintained Independent Bank Corporation (NASDAQ:IBCP) on Tuesday, October 3 with “Hold” rating. As per Thursday, August 20, the company rating was upgraded by TheStreet. As per Tuesday, August 11, the company rating was downgraded by Fig Partners. The firm has “Hold” rating by Keefe Bruyette & Woods given on Thursday, December 21. The rating was initiated by Hovde Group with “Market Perform” on Friday, September 23.

Analysts await Independent Bank Corporation (NASDAQ:IBCP) to report earnings on April, 23. They expect $0.36 earnings per share, up 28.57% or $0.08 from last year’s $0.28 per share. IBCP’s profit will be $7.69M for 16.91 P/E if the $0.36 EPS becomes a reality. After $0.35 actual earnings per share reported by Independent Bank Corporation for the previous quarter, Wall Street now forecasts 2.86% EPS growth.

Independent Bank Corporation operates as the bank holding firm for Independent Bank that provides various banking services to individuals and businesses in Michigan. The company has market cap of $520.44 million. The firm also offers checking and savings accounts, commercial lending, direct and indirect consumer financing, mortgage lending, and safe deposit box services, as well as automatic teller machines, and Internet and mobile banking services. It has a 25.63 P/E ratio. It also provides title insurance, and investment and insurance services; and acquires and services payment plans used by clients to purchase vehicle service contracts provided and administered by third parties.

The stock decreased 1.28% or $0.05 during the last trading session, reaching $3.85. About 1 shares traded. BSQUARE Corporation (BSQR) has declined 3.81% since March 16, 2017 and is downtrending. It has underperformed by 20.51% the S&P500.

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