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

September 17, 2026 by InsiderTrades.com

Key Points

CEO William Kessel sold 2,000 Independent Bank shares at an average price of $37.28, generating $74,560 and reducing his holdings by 1.25% to 157,836 shares.
Independent Bank reported quarterly EPS of $0.90, exceeding the $0.84 analyst consensus, while revenue of $61.64 million also topped estimates.
The company maintains a quarterly dividend of $0.28, equivalent to $1.12 annually and a 3.1% yield; analysts’ average rating is “Hold,” with an average price target of $39.50.

Independent Bank Corporation (NASDAQ:IBCP - Get Free Report) CEO William Kessel sold 2,000 shares of the business's stock in a transaction that occurred on Tuesday, September 15th. The stock was sold at an average price of $37.28, for a total transaction of $74,560.00. Following the completion of the transaction, the chief executive officer owned 157,836 shares of the company's stock, valued at $5,884,126.08. This trade represents a 1.25% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Independent Bank Stock Down 2.4%

Shares of IBCP opened at $36.47 on Thursday. The firm has a market capitalization of $809.63 million, a price-to-earnings ratio of 10.60 and a beta of 0.70. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.94 and a current ratio of 0.95. The business's fifty day moving average price is $37.26 and its two-hundred day moving average price is $35.25. Independent Bank Corporation has a 52 week low of $29.83 and a 52 week high of $39.24.

Independent Bank (NASDAQ:IBCP - Get Free Report) last released its earnings results on Thursday, July 23rd. The financial services provider reported $0.90 EPS for the quarter, beating the consensus estimate of $0.84 by $0.06. The company had revenue of $61.64 million during the quarter, compared to analysts' expectations of $60.08 million. Independent Bank had a return on equity of 14.12% and a net margin of 22.32%.During the same period last year, the firm earned $0.81 EPS. On average, analysts predict that Independent Bank Corporation will post 3.59 earnings per share for the current 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 issued a $0.28 dividend. The ex-dividend date was Tuesday, August 4th. This represents a $1.12 annualized dividend and a yield of 3.1%. Independent Bank's dividend payout ratio (DPR) is currently 32.56%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on IBCP. Piper Sandler boosted their price objective on Independent Bank from $37.00 to $42.00 and gave the stock a "neutral" rating in a report on Monday, July 27th. Keefe, Bruyette & Woods raised their target price on shares of Independent Bank from $37.00 to $38.00 and gave the company a "market perform" rating in a research note on Friday, July 24th. Weiss Ratings reiterated a "buy (b)" rating on shares of Independent Bank in a research report on Friday, September 4th. Finally, Hovde Group upgraded shares of Independent Bank from a "market perform" rating to an "outperform" rating and increased their price objective for the company from $36.00 to $41.00 in a report on Friday, July 10th. Two research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $39.50.

Get Our Latest Research Report on Independent Bank

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Harbour Investments Inc. boosted its holdings in shares of Independent Bank by 45.4% during the fourth quarter. Harbour Investments Inc. now owns 961 shares of the financial services provider's stock worth $31,000 after acquiring an additional 300 shares during the period. PNC Financial Services Group Inc. grew its position in shares of Independent Bank by 81.5% in the first quarter. PNC Financial Services Group Inc. now owns 1,269 shares of the financial services provider's stock valued at $42,000 after purchasing an additional 570 shares during the last quarter. Odyssean LLC increased its stake in shares of Independent Bank by 4.5% during the second quarter. Odyssean LLC now owns 16,902 shares of the financial services provider's stock worth $610,000 after purchasing an additional 725 shares during the period. Royal Bank of Canada lifted its holdings in Independent Bank by 138.4% during the 1st quarter. Royal Bank of Canada now owns 1,297 shares of the financial services provider's stock worth $43,000 after purchasing an additional 753 shares during the last quarter. Finally, Larson Financial Group LLC acquired a new stake in Independent Bank during the 4th quarter worth approximately $26,000. Institutional investors and hedge funds own 79.43% of the company's stock.

Independent Bank Company Profile

(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.

Independent Bank's offerings include checking and savings accounts, certificates of deposit, consumer loans, residential mortgages, home equity financing, commercial real estate loans and business lending.