Company: Independent Bank Corporation
Exchange: Nasdaq
Sector: Regional Banks
Market Cap: $689.9M
Current Price: $33.63 (as of April 22, 2026)
| Metric | Value | Change |
|---|---|---|
| Short Interest % of FF | 3.06% | +2.1% (1d), -4.4% (1w), +55.1% (1m) |
| Cost to Borrow | 0.87% | +81.6% (1w), +10.7% (1m) |
| Utilization | 0.85% | Well below 52w high of 1.96% |
| Days to Cover | 1.47 | Low coverage requirement |
| Availability % of SI | 9,999% | Extremely high - shares readily available |
| Put/Call Ratio (PCR) | 0.39 | Below 20-day mean of 1.82 (bullish sentiment) |
IBCP shows relatively low short interest at 3.06% of free float as of April 21, 2026. However, the stock experienced a notable 55% increase in short interest over the past month, rising from approximately 396,000 shares in mid-March to 614,000 shares currently.
The short interest peaked on April 15 at 739,511 shares (3.69% of FF) before declining to current levels. Despite this recent increase, the absolute short interest remains modest for a regional bank stock.
Cost to borrow has been volatile but remains low at 0.87%, indicating minimal friction for short sellers. The extremely high availability (9,999%) confirms that shares are readily available to borrow with no supply constraints.
The stock is trading at $33.63 with an RSI of 44.79, suggesting neither overbought nor oversold conditions.
The stock scores indicate decent overall fundamentals with moderate growth potential based on analyst targets.
The put/call ratio has dropped sharply to 0.39 from recent highs above 8.0 in late March. This represents a significant shift toward bullish options positioning, with call volume substantially exceeding put volume. The current PCR is well below the 20-day average of 1.82, suggesting traders are positioning for upside.
Next Earnings: April 23, 2026 (12:00 PM UTC) - Today!
The company is scheduled to report Q1 2026 results today. Recent earnings were reported on April 21, 2026.
Independent Bank Corporation is a small-cap regional bank with low short interest, minimal borrowing costs, and improving options sentiment ahead of earnings. The 55% monthly increase in short interest is noteworthy but from a low base. The stock appears fairly valued with moderate upside potential according to analyst targets and decent dividend yield for income investors.
This is not financial advice. All data is subject to change and may contain inaccuracies. Please conduct your own research before making investment decisions.
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Open IBCP on ORTEX →ORTEX Market Intelligence content is generated by AI from a snapshot of ORTEX's proprietary data. Content is informational only and does not constitute investment advice.
