Independent Bank Corp. (NASDAQ:INDB) Receiving Somewhat Favorable Press Coverage, Accern Reports
News headlines about Independent Bank Corp. (NASDAQ:INDB) have been trending somewhat positive this week, Accern reports. The research firm identifies negative and positive press coverage by analyzing more than twenty million news and blog sources. Accern ranks coverage of public companies on a scale of negative one to positive one, with scores closest to one being the most favorable. Independent Bank Corp. earned a news impact score of 0.25 on Accern’s scale. Accern also gave news coverage about the bank an impact score of 44.6820625357744 out of 100, meaning that recent press coverage is somewhat unlikely to have an effect on the company’s share price in the near future.
Here are some of the news articles that may have effected Accern’s rankings:
- Victory Capital Management Inc Bought A Little More Independent Bank Corp. (INDB) Stock Last Quarter (modernreaders.com)
- Summit Creek Advisors LLC Takes Position in Independent Bank Group, Inc (IBTX) (vothemes.com)
- Independent Bank Group, Inc (IBTX) Given “Buy” Rating at Stephens (campdesrecrues.com)
- Independent Bank Corp. (NASDAQ:INDB) Experiences Lighter than Usual Trading Volume (wisdomsave.com)
Shares of Independent Bank Corp. (INDB) traded down 1.53% on Friday, hitting $67.55. 54,852 shares of the stock traded hands. The stock has a 50 day moving average of $68.62 and a 200 day moving average of $64.75. Independent Bank Corp. has a one year low of $47.50 and a one year high of $73.15. The company has a market cap of $1.85 billion, a PE ratio of 22.97 and a beta of 0.98.
Independent Bank Corp. (NASDAQ:INDB) last issued its quarterly earnings results on Thursday, July 20th. The bank reported $0.82 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.81 by $0.01. Independent Bank Corp. had a net margin of 23.17% and a return on equity of 9.70%. The business had revenue of $85.15 million for the quarter, compared to analyst estimates of $85.20 million. During the same quarter in the prior year, the business posted $0.78 EPS. Equities analysts anticipate that Independent Bank Corp. will post $3.33 earnings per share for the current year.
A number of equities research analysts have commented on INDB shares. Piper Jaffray Companies started coverage on shares of Independent Bank Corp. in a research report on Monday, May 15th. They issued a “neutral” rating and a $63.00 target price for the company. Sandler O’Neill raised shares of Independent Bank Corp. from a “sell” rating to a “hold” rating in a research report on Monday, May 15th. BidaskClub raised shares of Independent Bank Corp. from a “hold” rating to a “buy” rating in a research report on Tuesday, June 13th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $71.00 target price on shares of Independent Bank Corp. in a research report on Wednesday, June 28th. Finally, Compass Point raised shares of Independent Bank Corp. from a “neutral” rating to a “buy” rating and set a $72.00 target price for the company in a research report on Friday, July 21st. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Independent Bank Corp. has an average rating of “Hold” and an average target price of $67.60.
COPYRIGHT VIOLATION NOTICE: “Independent Bank Corp. (NASDAQ:INDB) Receiving Somewhat Favorable Press Coverage, Accern Reports” was originally reported by Daily Political and is the property of of Daily Political. If you are accessing this piece on another website, it was illegally copied and republished in violation of international copyright & trademark laws. The original version of this piece can be accessed at https://www.dailypolitical.com/2017/08/12/independent-bank-corp-nasdaqindb-receiving-somewhat-favorable-press-coverage-accern-reports.html.
In other news, insider Christopher Oddleifson sold 1,750 shares of the stock in a transaction on Wednesday, July 26th. The shares were sold at an average price of $72.02, for a total value of $126,035.00. Following the sale, the insider now owns 92,143 shares in the company, valued at $6,636,138.86. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Gerard F. Nadeau sold 5,193 shares of the stock in a transaction on Monday, July 31st. The stock was sold at an average price of $71.75, for a total transaction of $372,597.75. The disclosure for this sale can be found here. Insiders sold 9,443 shares of company stock worth $669,348 in the last quarter. Company insiders own 2.67% 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.
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.