Pl Capital Advisors Lowers stake in Independent Bank Corporation(MI) (IBCP)

Independent Bank Corporation(MI) (IBCP) : Pl Capital Advisors reduced its stake in Independent Bank Corporation(MI) by 0.71% during the most recent quarter end. The investment management company now holds a total of 1,050,985 shares of Independent Bank Corporation(MI) which is valued at $16,710,662 after selling 7,500 shares in Independent Bank Corporation(MI) , the firm said in a disclosure report filed with the SEC on Aug 9, 2016.Independent Bank Corporation(MI) makes up approximately 5.24% of Pl Capital Advisors’s portfolio.

Other Hedge Funds, Including , Victory Capital Management Inc boosted its stake in IBCP in the latest quarter, The investment management firm added 5,400 additional shares and now holds a total of 59,610 shares of Independent Bank Corporation(MI) which is valued at $969,855.Boston Partners boosted its stake in IBCP in the latest quarter, The investment management firm added 5,790 additional shares and now holds a total of 234,940 shares of Independent Bank Corporation(MI) which is valued at $3,716,751. Independent Bank Corporation(MI) makes up approx 0.01% of Boston Partners’s portfolio.Lsv Asset Management boosted its stake in IBCP in the latest quarter, The investment management firm added 139,300 additional shares and now holds a total of 174,600 shares of Independent Bank Corporation(MI) which is valued at $2,762,172. Independent Bank Corporation(MI) makes up approx 0.01% of Lsv Asset Management’s portfolio. Chicago Equity Partners added IBCP to its portfolio by purchasing 82,290 company shares during the most recent quarter which is valued at $1,265,620. Independent Bank Corporation(MI) makes up approx 0.04% of Chicago Equity Partners’s portfolio.Foundry Partners boosted its stake in IBCP in the latest quarter, The investment management firm added 7,100 additional shares and now holds a total of 218,782 shares of Independent Bank Corporation(MI) which is valued at $3,292,669. Independent Bank Corporation(MI) makes up approx 0.31% of Foundry Partners’s portfolio.

Independent Bank Corporation(MI) closed down -0.07 points or -0.43% at $16.17 with 87,815 shares getting traded on Wednesday. Post opening the session at $16.24, the shares hit an intraday low of $16.13 and an intraday high of $16.33 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

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.

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