Independent Bank Corp. (NASDAQ:INDB) CFO Robert D. Cozzone sold 3,250 shares of the firm’s stock in a transaction on Thursday, November 2nd. The stock was sold at an average price of $72.50, for a total value of $235,625.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

Independent Bank Corp. (NASDAQ:INDB) traded down $0.15 on Monday, reaching $71.45. The company’s stock had a trading volume of 31,340 shares, compared to its average volume of 87,830. The firm has a market capitalization of $1,960.00, a P/E ratio of 22.17 and a beta of 0.98. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.95 and a quick ratio of 0.95. Independent Bank Corp. has a 12-month low of $53.00 and a 12-month high of $76.30.

Independent Bank Corp. (NASDAQ:INDB) last released its earnings results on Thursday, October 19th. The bank reported $0.87 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.91 by ($0.04). The business had revenue of $87.84 million during the quarter, compared to analysts’ expectations of $88.57 million. Independent Bank Corp. had a net margin of 23.48% and a return on equity of 9.76%. Independent Bank Corp.’s revenue for the quarter was up 12.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.78 EPS. research analysts predict that Independent Bank Corp. will post 3.41 earnings per share for the current fiscal year.

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A number of brokerages have recently commented on INDB. Compass Point downgraded Independent Bank Corp. from a “buy” rating to a “neutral” rating and set a $76.00 price objective for the company. in a research report on Wednesday, October 11th. They noted that the move was a valuation call. Zacks Investment Research upgraded Independent Bank Corp. from a “hold” rating to a “buy” rating and set a $81.00 price objective on the stock in a research note on Wednesday, July 26th. Finally, Keefe, Bruyette & Woods restated a “hold” rating and set a $73.00 price objective on shares of Independent Bank Corp. in a research note on Tuesday, October 3rd. One research analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $73.00.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. US Bancorp DE lifted its holdings in shares of Independent Bank Corp. by 2.7% in the second quarter. US Bancorp DE now owns 1,893 shares of the bank’s stock valued at $126,000 after purchasing an additional 49 shares in the last quarter. Louisiana State Employees Retirement System lifted its holdings in shares of Independent Bank Corp. by 0.9% in the second quarter. Louisiana State Employees Retirement System now owns 11,100 shares of the bank’s stock valued at $740,000 after purchasing an additional 100 shares in the last quarter. Arizona State Retirement System lifted its holdings in shares of Independent Bank Corp. by 0.7% in the second quarter. Arizona State Retirement System now owns 14,171 shares of the bank’s stock valued at $944,000 after purchasing an additional 100 shares in the last quarter. Oppenheimer Asset Management Inc. lifted its holdings in shares of Independent Bank Corp. by 8.3% in the second quarter. Oppenheimer Asset Management Inc. now owns 1,566 shares of the bank’s stock valued at $104,000 after purchasing an additional 120 shares in the last quarter. Finally, Amalgamated Bank lifted its holdings in shares of Independent Bank Corp. by 3.6% in the second quarter. Amalgamated Bank now owns 3,640 shares of the bank’s stock valued at $243,000 after purchasing an additional 126 shares in the last quarter. Institutional investors own 76.32% of the company’s stock.

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.

Insider Buying and Selling by Quarter for Independent Bank Corp. (NASDAQ:INDB)

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