Maltese Capital Management Boosted Independent Bank Mich (IBCP) Holding; Quarterhill (QTRH) Sellers Increased By 43.35% Their Shorts

February 14, 2018 - By Ellis Scott

Maltese Capital Management Llc increased Independent Bank Corp Mich (IBCP) stake by 9.44% reported in 2017Q3 SEC filing. Maltese Capital Management Llc acquired 76,260 shares as Independent Bank Corp Mich (IBCP)’s stock declined 4.64%. The Maltese Capital Management Llc holds 884,260 shares with $20.03M value, up from 808,000 last quarter. Independent Bank Corp Mich now has $490.15 million valuation. The stock increased 0.77% or $0.18 during the last trading session, reaching $22.98. About 33,670 shares traded. Independent Bank Corporation (NASDAQ:IBCP) has risen 39.51% since February 14, 2017 and is uptrending. It has outperformed by 22.81% the S&P500.

Quarterhill Incorporated (NASDAQ:QTRH) had an increase of 43.35% in short interest. QTRH’s SI was 74,400 shares in February as released by FINRA. Its up 43.35% from 51,900 shares previously. With 127,800 avg volume, 1 days are for Quarterhill Incorporated (NASDAQ:QTRH)’s short sellers to cover QTRH’s short positions. The stock increased 3.73% or $0.06 during the last trading session, reaching $1.67. About 48,050 shares traded. Quarterhill Inc. (NASDAQ:QTRH) has 0.00% since February 14, 2017 and is . It has underperformed by 16.70% the S&P500.

Investors sentiment increased to 1.37 in 2017 Q3. Its up 0.24, from 1.13 in 2017Q2. It improved, as 8 investors sold IBCP shares while 30 reduced holdings. 14 funds opened positions while 38 raised stakes. 16.96 million shares or 0.60% more from 16.86 million shares in 2017Q2 were reported. Metropolitan Life Com Ny reported 16,613 shares stake. Pl Cap Advsrs Limited Co accumulated 1.05 million shares. Basswood Capital Mngmt Ltd Liability has 0.34% invested in Independent Bank Corporation (NASDAQ:IBCP). Virtu Limited Company holds 0% of its portfolio in Independent Bank Corporation (NASDAQ:IBCP) for 13,176 shares. Pnc Svcs Gp stated it has 0% in Independent Bank Corporation (NASDAQ:IBCP). Wedge Management L LP Nc owns 84,927 shares or 0.02% of their US portfolio. Macquarie Grp Incorporated Limited has invested 0% in Independent Bank Corporation (NASDAQ:IBCP). Moreover, Northern Tru has 0% invested in Independent Bank Corporation (NASDAQ:IBCP) for 233,959 shares. California Pub Employees Retirement Systems holds 0% or 88,532 shares. Moreover, Federated Investors Incorporated Pa has 0% invested in Independent Bank Corporation (NASDAQ:IBCP) for 3,506 shares. Brandywine Invest Ltd Com holds 0% in Independent Bank Corporation (NASDAQ:IBCP) or 6,722 shares. The Pennsylvania-based Sei Invests Company has invested 0% in Independent Bank Corporation (NASDAQ:IBCP). Citadel Advsrs Ltd Llc reported 40,540 shares stake. Natl Bank Of Ny Mellon Corporation has 148,878 shares. Boston Ptnrs accumulated 253,700 shares.

Maltese Capital Management Llc decreased Zions Bancorporation (NASDAQ:ZIONZ) stake by 111,755 shares to 1.38 million valued at $15.98M in 2017Q3. It also reduced Century Bancorp Inc Mass (NASDAQ:CNBKA) stake by 109,940 shares and now owns 160,000 shares. Blackhawk Bancorp Inc. (BHWB) was reduced too.

Among 8 analysts covering Independent Bank Corporation (NASDAQ:IBCP), 2 have Buy rating, 0 Sell and 6 Hold. Therefore 25% are positive. Independent Bank Corporation had 13 analyst reports since July 29, 2015 according to SRatingsIntel. TheStreet upgraded Independent Bank Corporation (NASDAQ:IBCP) on Thursday, August 20 to “Hold” rating. The rating was initiated by Boenning & Scattergood on Wednesday, May 4 with “Neutral”. Hovde Group initiated it with “Market Perform” rating and $17.50 target in Friday, September 23 report. The firm earned “Hold” rating on Thursday, December 21 by Keefe Bruyette & Woods. The stock of Independent Bank Corporation (NASDAQ:IBCP) has “Hold” rating given on Tuesday, October 3 by Keefe Bruyette & Woods. The stock of Independent Bank Corporation (NASDAQ:IBCP) has “Buy” rating given on Monday, December 18 by Compass Point. Fig Partners downgraded the shares of IBCP in report on Tuesday, August 11 to “Outperform” rating. The firm has “Market Perform” rating given on Tuesday, August 11 by FIG Partners. The stock has “Hold” rating by Keefe Bruyette & Woods on Wednesday, December 6. The stock of Independent Bank Corporation (NASDAQ:IBCP) earned “Hold” rating by Hovde Group on Wednesday, January 31.

Quarterhill Inc., an intellectual property licensing company, develops, acquires, and licenses various patented technologies. The company has market cap of $196.78 million. The firm licenses its patents to companies that sell products utilizing a range of technologies, including Wi-Fi, WiMAX, LTE, CDMA, DSL, DOCSIS, Bluetooth, V-Chip, and 3D television, as well as automotive headlight assemblies, semiconductor manufacturing and packaging, medical stent, video streaming, CMOS image sensors, building automation, computer gaming, smart meter monitoring, and LED lighting. It has a 6.42 P/E ratio. It also manages the intellectual property of third party inventors.

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