Weekly Research Analysts’ Ratings Changes for Independent Bank (INDB)

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.

In other Independent Bank news, insider Christopher Oddleifson sold 1,200 shares of the company’s stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $72.60, for a total value of $87,120.00. Following the completion of the transaction, the insider now owns 86,643 shares of the company’s stock, valued at approximately $6,290,281.80. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Daniel F. Obrien sold 1,000 shares of the company’s stock in a transaction dated Tuesday, November 21st. The stock was sold at an average price of $70.19, for a total value of $70,190.00. Following the completion of the transaction, the director now directly owns 22,912 shares of the company’s stock, valued at approximately $1,608,193.28. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 3,501 shares of company stock valued at $249,087. Corporate insiders own 2.67% of the company’s stock.

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 & 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 companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply