The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Independent Bank Corporation (Ionia, MI) shares valued at $105,235 were purchased by Daniel Larry R Jr on Dec 04 ’24. At $37.80 per share, Daniel Larry R Jr acquired 2,784 shares.
Also, Ervin Patrick J purchased 275 shares, netting a total of over 10,433 in proceeds. Following the buying of shares at $37.94 each, the insider now holds 34,813 shares.
Before that, Daniel Larry R Jr had sold 3,851 shares from its account. In a trade valued at $150,767, the Executive Vice President traded Independent Bank Corporation (Ionia, MI) shares for $39.15 each. Upon closing the transaction, the insider’s holdings decreased to 3,851 shares, worth approximately $0.7 million.
Analysts at Keefe Bruyette downgraded the stock from ‘”an Outperform”‘ to ‘”a Mkt perform”‘ outlook in a report released in mid December. Earlier on January 17, 2020, DA Davidson downgraded its rating. Their new recommendation was “a Neutral” for IBCP stock which previously was a “a Buy”.
Analyzing IBCP Stock Performance
During the last five days, there has been a drop of approximately -3.36%. Over the course of the year, Independent Bank Corporation (Ionia, MI) shares have dropped approximately -3.36%. Shares of the company reached a 52-week high of $35.39 on 01/03/25 and a 52-week low of $32.87 on 01/08/25. A 50-day SMA is recorded $36.31, while a 200-day SMA reached $30.75. Nevertheless, trading volume fell to 0.15 million shares from 0.13 million shares the previous day.
Support And Resistance Levels for Independent Bank Corporation (Ionia, MI) (IBCP)
According to the 24-hour chart, there is a support level at 33.05, which, if violated, would cause prices to drop to 32.43. In the upper region, resistance lies at 34.10. The next price resistance is at 34.53. RSI (Relative Strength Index) is 31.63 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.90, which suggests the price will decrease in the coming days. Percent R is at 84.72%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
