The Public Employees Retirement Association of Colorado Sells 547 Shares of Independent Bank Corp (INDB)

The Public Employees Retirement Association of Colorado Sells 547 Shares of Independent Bank Corp (INDB)

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Elkfork Partners LLC purchased a new position in Independent Bank Corp during the fourth quarter worth $124,000. State of Alaska Department of Revenue boosted its stake in shares of Independent Bank Corp by 2.4% in the first quarter. State of Alaska Department of Revenue now owns 3,000 shares of the bank’s stock valued at $195,000 after buying an additional 70 shares during the last quarter. Bank of Montreal Can boosted its stake in shares of Independent Bank Corp by 42.1% in the first quarter. Bank of Montreal Can now owns 3,036 shares of the bank’s stock valued at $197,000 after buying an additional 899 shares during the last quarter. Beaumont Financial Partners LLC bought a new stake in shares of Independent Bank Corp during the fourth quarter valued at approximately $232,000. Finally, Jennison Associates LLC bought a new stake in shares of Independent Bank Corp during the first quarter valued at approximately $264,000. Institutional investors own 77.67% of the company’s stock.

Public Employees Retirement Association of Colorado decreased its position in shares of Independent Bank Corp (NASDAQ:INDB) by 7.0% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 7,287 shares of the bank’s stock after selling 547 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Independent Bank Corp were worth $474,000 at the end of the most recent quarter.

Shares of Independent Bank Corp (NASDAQ:INDB) opened at 61.85 on Monday. The stock has a market cap of $1.67 billion, a PE ratio of 20.97 and a beta of 0.96. The firm has a 50-day moving average of $63.25 and a 200 day moving average of $64.83. Independent Bank Corp has a 52 week low of $42.44 and a 52 week high of $71.95.

Independent Bank Corp (NASDAQ:INDB) last announced its earnings results on Thursday, April 20th. The bank reported $0.78 earnings per share (EPS) for the quarter, meeting 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 business had revenue of $79.11 million for the quarter, compared to analyst estimates of $80.19 million. During the same quarter last year, the business earned $0.72 earnings per share. On average, equities analysts forecast that Independent Bank Corp will post $3.28 EPS for the current fiscal year.

Several brokerages have commented on INDB. Sandler O’Neill upgraded shares of Independent Bank Corp from a “sell” rating to a “hold” rating in a research note on Monday, May 15th. Piper Jaffray Companies began coverage on shares of Independent Bank Corp in a research note on Monday, May 15th. They issued a “neutral” rating and a $63.00 price target on the stock. Compass Point upgraded shares of Independent Bank Corp from a “sell” rating to a “neutral” rating in a research note on Tuesday, March 28th. Finally, Zacks Investment Research cut shares of Independent Bank Corp from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, March 22nd. In other news, Director Carl Ribeiro sold 1,000 shares of Independent Bank Corp stock in a transaction dated Thursday, May 25th. The shares were sold at an average price of $62.24, for a total value of $62,240.00. Following the sale, the director now owns 14,647 shares in the company, valued at $911,629.28. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Maurice H. Sullivan, Jr. sold 4,275 shares of Independent Bank Corp 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 completion of the sale, the director now owns 28,455 shares in the company, valued at approximately $1,839,615.75. The disclosure for this sale can be found here. In the last quarter, insiders sold 21,008 shares of company stock worth $1,344,820. Company insiders own 3.02% of the company’s stock.

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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