Independent Bank (NASDAQ: INDB) recently received a number of ratings updates from brokerages and research firms:
- 2/5/2018 – Independent Bank was upgraded by analysts at BidaskClub from a “sell” rating to a “hold” rating.
- 1/30/2018 – Independent Bank was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating.
- 1/21/2018 – Independent Bank had its “hold” rating reaffirmed by analysts at Keefe, Bruyette & Woods.
- 1/18/2018 – Independent Bank was upgraded by analysts at BidaskClub from a “sell” rating to a “hold” rating.
- 1/5/2018 – Independent Bank was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating.
- 12/22/2017 – Independent Bank was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “Independent Bank Corp. is a bank holding company for Rockland Trust Company. They are a community-oriented commercial bank. The community banking business consists of commercial banking, retail banking and trust services and is managed as a single strategic unit. The community banking business derives its revenues from a wide range of banking services, including lending activities, acceptance of demand, savings and time deposits, trust and investment management, and mortgage servicing income from investors. “
- 12/18/2017 – Independent Bank was upgraded by analysts at Compass Point from a “neutral” rating to a “buy” rating.
Independent Bank Corp (NASDAQ INDB) traded up $0.20 during trading hours on Thursday, hitting $69.65. The company’s stock had a trading volume of 31,535 shares, compared to its average volume of 78,137. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.95 and a quick ratio of 0.94. Independent Bank Corp has a 52-week low of $58.30 and a 52-week high of $76.30. The firm has a market cap of $1,897.69, a price-to-earnings ratio of 21.90 and a beta of 0.91.
Independent Bank (NASDAQ:INDB) last issued its earnings results on Thursday, January 18th. The bank reported $0.89 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.89. The company had revenue of $89.70 million during the quarter, compared to the consensus estimate of $88.31 million. Independent Bank had a return on equity of 10.00% and a net margin of 24.21%. The firm’s revenue for the quarter was up 17.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.76 EPS. equities research analysts forecast that Independent Bank Corp will post 4.38 EPS for the current year.
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.
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