$IBCP

Independent Bank Shares Rise After Upgrade From Hovde

Independent Bank's (IBCP) shares were up 1% in Friday trading after Hovde upgraded the company's stock to outperform from market perform and raised its price target to $41 from $36.Trading volume stood at over 81,000 shares, compared with a daily average of about 163,000.Price: $35.86, Change: $+0.36, Percent Change: +1.01%

Hovde Upgrades Independent Bank to Outperform From Market Perform, Adjusts Price Target to $41 From $36

Independent Bank Says HCB Financial Shareholders Approve Merger

Independent Bank (IBCP) said Thursday its proposed merger with HCB Financial has been approved by HCB Financial shareholders.The companies announced on March 18 that they had signed a definitive merger agreement under which Independent Bank will acquire HCB Financial. The proposed transaction has also received approvals from the Federal Reserve Bank of Chicago and the Michigan Department of Insurance and Financial Services, according to a statement.The merger is expected to become effective on July 1, Independent Bank said.Price: $34.36, Change: $+0.09, Percent Change: +0.26%

Independent Bank Keeps Quarterly Dividend at $0.28 per Share, Payable May 14 to Shareholders of Record May 4

Independent Bank Keeps Quarterly Dividend at $0.28 per Share, Payable May 14 to Shareholders of Record May 4