Independent Bank Ownership

Who are the major shareholders and have insiders been buying or selling?

Recent Insider Transactions

NasdaqGS:IBCP Recent Insider Transactions by Companies or Individuals
Date	Value	Name	Entity	Shares	Max Price
03 Dec 24	BuyUS$10,433	Patrick Ervin	Individual	275	US$37.94
25 Nov 24	SellUS$150,767	Larry Daniel	Individual	3,851	US$39.15
20 Nov 24	BuyUS$29,369	Gavin Mohr	Individual	800	US$36.71
12 Sep 24	SellUS$45,993	Christina Keller	Individual	1,400	US$32.94
03 Sep 24	SellUS$34,223	Stefanie Kimball	Individual	1,000	US$34.31
02 Aug 24	SellUS$32,763	Christina Keller	Individual	1,000	US$32.81
14 Jun 24	SellUS$56,688	Christina Keller	Individual	2,400	US$23.62
29 May 24	SellUS$41,629	Stefanie Kimball	Individual	1,700	US$24.50
29 Apr 24	SellUS$37,500	James Twarozynski	Individual	1,500	US$25.00

Insider Trading Volume

Insider Buying: IBCP insiders have sold more shares than they have bought in the past 3 months.

Ownership Breakdown

What is the ownership structure of IBCP?
Owner Type	Number of Shares	Ownership Percentage
State or Government	11,771	0.0563%
Individual Insiders	468,350	2.24%
General Public	2,129,251	10.2%
Institutions	18,284,706	87.5%

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.

Top Shareholders

Top 25 shareholders own 66.56% of the company

Ownership	Name	Shares	Current Value	Change %	Portfolio %
13.6%	BlackRock, Inc.	2,836,633	US$99.7m	-4.28%	no data
5.71%	The Vanguard Group, Inc.	1,192,954	US$41.9m	12%	no data
4.95%	FMR LLC	1,033,594	US$36.3m	7.2%	no data
4.6%	Dimensional Fund Advisors LP	961,202	US$33.8m	-2.45%	0.01%
3.85%	FJ Capital Management, LLC	805,367	US$28.3m	-33.6%	2.8%
3.1%	State Street Global Advisors, Inc.	647,579	US$22.8m	4.77%	no data
2.88%	Renaissance Technologies LLC	600,900	US$21.1m	1.03%	0.03%
2.39%	Geode Capital Management, LLC	499,546	US$17.6m	0.37%	no data
2.25%	American Century Investment Management Inc	469,676	US$16.5m	13%	0.01%
2.24%	LSV Asset Management	467,270	US$16.4m	-11.1%	0.03%
2.23%	Acadian Asset Management LLC	466,471	US$16.4m	10.1%	0.04%
1.96%	Manulife Asset Management	409,214	US$14.4m	-2.83%	0.01%
1.67%	Principal Global Investors, LLC	349,650	US$12.3m	28.7%	0.01%
1.61%	JP Morgan Asset Management	336,595	US$11.8m	-21.2%	no data
1.54%	Allspring Global Investments, LLC	320,885	US$11.3m	-10.5%	0.02%
1.53%	PL Capital Advisors, LLC	318,985	US$11.2m	0%	3.67%
1.37%	Peregrine Capital Management, LLC	286,407	US$10.1m	-8.79%	0.26%
1.36%	Boston Partners Global Investors, Inc.	283,980	US$10.0m	590%	0.01%
1.26%	Hotchkis and Wiley Capital Management, LLC	264,090	US$9.3m	9.35%	0.03%
1.11%	Teachers Insurance and Annuity Association-College Retirement Equities Fund	232,758	US$8.2m	9.49%	no data
1.11%	Bridgeway Capital Management, LLC	231,230	US$8.1m	-13.4%	0.13%
1.09%	Russell Investment Management, LLC	227,059	US$8.0m	93.6%	0.01%
1.07%	Northern Trust Global Investments	224,554	US$7.9m	0.73%	no data
1.06%	Arrowstreet Capital, Limited Partnership	221,493	US$7.8m	21.1%	0.01%
1.05%	ProShare Advisors LLC	219,097	US$7.7m	1,890%	0.02%

Company Analysis and Financial Data Status

Data	Last Updated (UTC time)
Company Analysis	2024/12/22 02:22
End of Day Share Price	2024/12/20 00:00
Earnings	2024/09/30
Annual Earnings	2023/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

Package	Data	Timeframe	Example US Source ^*
Company Financials	10 years	Income statement Cash flow statement Balance sheet	SEC Form 10-K SEC Form 10-Q
Analyst Consensus Estimates	+3 years	Forecast financials Analyst price targets	Analyst Research Reports Blue Matrix
Market Prices	30 years	Stock prices Dividends, Splits and Actions	ICE Market Data SEC Form S-1
Ownership	10 years	Top shareholders Insider trading	SEC Form 4 SEC Form 13D
Management	10 years	Leadership team Board of directors	SEC Form 10-K SEC Form DEF 14A
Key Developments	10 years	Company announcements	SEC Form 8-K

^* example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on .

Analyst Sources

Independent Bank Corporation is covered by 10 analysts. 5 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

Analyst	Institution
James Beury	Boenning & Scattergood, Inc.
null null	D.A. Davidson & Co.
Russell Elliott Gunther	D.A. Davidson & Co.