Independent Bank Corp. (INDB) Receiving Somewhat Positive News Coverage, Accern Reports
Headlines about Independent Bank Corp. (NASDAQ:INDB) have been trending somewhat positive this week, Accern Sentiment reports. The research group scores the sentiment of press coverage by monitoring more than twenty million blog and news sources in real time. Accern ranks coverage of companies on a scale of negative one to one, with scores nearest to one being the most favorable. Independent Bank Corp. earned a media sentiment score of 0.12 on Accern’s scale. Accern also assigned media headlines about the bank an impact score of 45.8021566317112 out of 100, indicating that recent press coverage is somewhat unlikely to have an impact on the company’s share price in the near term.
INDB has been the subject of several research reports. Zacks Investment Research raised shares of Independent Bank Corp. from a “hold” rating to a “buy” rating and set a $75.00 price objective for the company in a report on Tuesday, August 22nd. BidaskClub raised shares of Independent Bank Corp. from a “hold” rating to a “buy” rating in a report on Tuesday, June 13th. Sandler O’Neill raised shares of Independent Bank Corp. from a “sell” rating to a “hold” rating in a report on Monday, May 15th. Piper Jaffray Companies initiated coverage on shares of Independent Bank Corp. in a report on Monday, May 15th. They set a “neutral” rating and a $63.00 price objective for the company. Finally, Compass Point raised shares of Independent Bank Corp. from a “neutral” rating to a “buy” rating and set a $72.00 price objective for the company in a report on Friday, July 21st. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Independent Bank Corp. has a consensus rating of “Hold” and an average price target of $66.40.
Independent Bank Corp. (INDB) traded up 0.43% on Wednesday, hitting $69.90. 158,058 shares of the stock traded hands. Independent Bank Corp. has a 12 month low of $47.50 and a 12 month high of $73.15. The firm has a 50-day moving average price of $69.06 and a 200-day moving average price of $65.17. The company has a market capitalization of $1.92 billion, a PE ratio of 23.77 and a beta of 0.98.
Independent Bank Corp. (NASDAQ:INDB) last posted its quarterly earnings data on Thursday, July 20th. The bank reported $0.82 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.81 by $0.01. The business had revenue of $85.15 million during the quarter, compared to the consensus estimate of $85.20 million. Independent Bank Corp. had a return on equity of 9.70% and a net margin of 23.17%. During the same period in the prior year, the company earned $0.78 earnings per share. Analysts forecast that Independent Bank Corp. will post $3.33 earnings per share for the current year.
In related news, insider Gerard F. Nadeau sold 5,193 shares of the stock in a transaction on Monday, July 31st. The stock was sold at an average price of $71.75, for a total transaction of $372,597.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Mark J. Ruggiero sold 400 shares of the stock in a transaction on Tuesday, July 25th. The stock was sold at an average price of $73.05, for a total value of $29,220.00. Following the sale, the insider now directly owns 2,852 shares of the company’s stock, valued at $208,338.60. The disclosure for this sale can be found here. Insiders sold 8,443 shares of company stock valued at $607,108 over the last three months. Corporate insiders own 2.67% of the company’s stock.
ILLEGAL ACTIVITY WARNING: “Independent Bank Corp. (INDB) Receiving Somewhat Positive News Coverage, Accern Reports” was first published by The Cerbat Gem and is the property of of The Cerbat Gem. If you are accessing this story on another site, it was copied illegally and republished in violation of US & international trademark & copyright law. The correct version of this story can be read at https://www.thecerbatgem.com/2017/08/30/independent-bank-corp-indb-receiving-somewhat-positive-news-coverage-accern-reports.html.
About Independent Bank Corp.
Independent Bank Corp. is a bank holding company. The Company operates through its subsidiary, Rockland Trust Company (the Bank). The Bank is a community-oriented commercial bank. Its community banking business provides a range of banking services, including lending activities, acceptance of demand, savings, and time deposits, and investment management.
Receive News & Stock Ratings for Independent Bank Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Independent Bank Corp. and related stocks with our FREE daily email newsletter.