The Independent Bank Corp (INDB) Earns News Impact Rating of 0.13

The Independent Bank Corp (INDB) Earns News Impact Rating of 0.13

Independent Bank Corp (INDB) opened at 61.85 on Monday. The stock has a market capitalization of $1.67 billion, a P/E ratio of 20.97 and a beta of 0.96. Independent Bank Corp has a 12-month low of $42.44 and a 12-month high of $71.95. The firm’s 50-day moving average price is $63.25 and its 200 day moving average price is $64.83.

News headlines about Independent Bank Corp (NASDAQ:INDB) have been trending somewhat positive this week, AlphaOne Sentiment reports. The research firm, a subsidiary of Accern, ranks the sentiment of press coverage by monitoring more than 20 million blog and news sources in real-time. AlphaOne ranks coverage of publicly-traded companies on a scale of negative one to one, with scores nearest to one being the most favorable. Independent Bank Corp earned a news sentiment score of 0.13 on AlphaOne’s scale. AlphaOne also gave press coverage about the bank an impact score of 79 out of 100, indicating that recent press coverage is likely to have an effect on the stock’s share price in the next few days.

Independent Bank Corp (NASDAQ:INDB) last released its quarterly earnings results on Thursday, April 20th. The bank reported $0.78 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.78. Independent Bank Corp had a net margin of 23.29% and a return on equity of 9.83%. The firm had revenue of $79.11 million for the quarter, compared to the consensus estimate of $80.19 million. During the same quarter in the previous year, the firm posted $0.72 EPS. On average, equities analysts anticipate that Independent Bank Corp will post $3.28 EPS for the current year. A number of analysts have commented on INDB shares. Zacks Investment Research cut Independent Bank Corp from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, March 22nd. Compass Point raised Independent Bank Corp from a “sell” rating to a “neutral” rating in a research note on Tuesday, March 28th. Sandler O’Neill raised Independent Bank Corp from a “sell” rating to a “hold” rating in a research note on Monday, May 15th. Finally, Piper Jaffray Companies started coverage on Independent Bank Corp in a research note on Monday, May 15th. They issued a “neutral” rating and a $63.00 price objective for the company.

Independent Bank Corp (NASDAQ:INDB) last released its quarterly earnings results on Thursday, April 20th. The bank reported $0.78 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.78. Independent Bank Corp had a net margin of 23.29% and a return on equity of 9.83%. The firm had revenue of $79.11 million for the quarter, compared to the consensus estimate of $80.19 million. During the same quarter in the previous year, the firm posted $0.72 EPS. On average, equities analysts anticipate that Independent Bank Corp will post $3.28 EPS for the current year. In other news, Director Kevin J. Jones sold 9,630 shares of the business’s stock in a transaction dated Friday, April 28th. The shares were sold at an average price of $64.11, for a total value of $617,379.30. Following the completion of the sale, the director now owns 77,534 shares of the company’s stock, valued at approximately $4,970,704.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Maurice H. Sullivan, Jr. sold 4,275 shares of the business’s stock in a transaction dated Friday, March 10th. The shares were sold at an average price of $64.65, for a total transaction of $276,378.75. Following the sale, the director now directly owns 28,455 shares of the company’s stock, valued at approximately $1,839,615.75. The disclosure for this sale can be found here. Insiders have sold a total of 21,008 shares of company stock worth $1,344,820 in the last ninety days. 3.02% of the stock is currently owned by insiders.

Independent Bank Corp Company Profile 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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “NASDAQ:INDB”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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