Independent Bank Corp. (INDB) Given News Impact Score of 0.05
News headlines about Independent Bank Corp. (NASDAQ:INDB) have trended somewhat positive on Sunday, according to Accern. Accern scores the sentiment of media coverage by reviewing more than 20 million blog and news sources in real time. 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 coverage optimism score of 0.05 on Accern’s scale. Accern also assigned press coverage about the bank an impact score of 45.9716554553229 out of 100, indicating that recent media coverage is somewhat unlikely to have an impact on the company’s share price in the near future.
Here are some of the news stories that may have effected Accern Sentiment Analysis’s analysis:
- Independent Bank Corp. (Massachusetts) :INDB-US: Earnings Analysis: Q2, 2017 By the Numbers : September 15, 2017 (finance.yahoo.com)
- Robert D. Cozzone, Chief Financial Officer of Independent Bank Corp. (thestreet.com)
- Independent Bank Corp. CFO Robert Cozzone and Rockland Trust Company President Gerard Nadeau to Present at the Piper Jaffray New England Bank Symposium (finance.yahoo.com)
- Independent Bank Corp. (Massachusetts) breached its 50 day moving average in a Bullish Manner : INDB-US : September 13, 2017 (finance.yahoo.com)
- Independent Bank Corp. (INDB) Receives Average Recommendation of “Hold” from Brokerages (americanbankingnews.com)
Shares of Independent Bank Corp. (NASDAQ:INDB) traded up 1.22% during trading on Friday, reaching $70.40. 201,900 shares of the company were exchanged. Independent Bank Corp. has a 1-year low of $47.50 and a 1-year high of $73.15. The firm has a market capitalization of $1.93 billion, a PE ratio of 23.94 and a beta of 1.00. The company’s 50-day moving average is $69.35 and its 200 day moving average is $65.77.
Independent Bank Corp. (NASDAQ:INDB) last posted its earnings results on Thursday, July 20th. The bank reported $0.82 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 company had revenue of $85.15 million during the quarter, compared to analysts’ expectations of $85.20 million. During the same quarter in the prior year, the company posted $0.78 earnings per share. Equities research analysts expect that Independent Bank Corp. will post $3.33 EPS for the current fiscal year.
A number of equities analysts recently weighed in on INDB shares. Zacks Investment Research lowered shares of Independent Bank Corp. from a “buy” rating to a “hold” rating in a report on Thursday, August 24th. Keefe, Bruyette & Woods restated a “hold” rating and issued a $71.00 price objective on shares of Independent Bank Corp. in a report on Wednesday, June 28th. BidaskClub lowered shares of Independent Bank Corp. from a “buy” rating to a “hold” rating in a report on Wednesday, June 21st. Finally, Compass Point upgraded shares of Independent Bank Corp. from a “neutral” rating to a “buy” rating and set a $72.00 price objective for the company in a report on Friday, July 21st. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $70.25.
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In related news, insider Gerard F. Nadeau sold 5,193 shares of the stock in a transaction that occurred on Monday, July 31st. The shares were sold at an average price of $71.75, for a total transaction of $372,597.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Mark J. Ruggiero sold 400 shares of the stock in a transaction that occurred on Tuesday, July 25th. The shares were sold at an average price of $73.05, for a total transaction of $29,220.00. Following the sale, the insider now directly owns 2,852 shares of the company’s stock, valued at approximately $208,338.60. The disclosure for this sale can be found here. Insiders have sold 8,443 shares of company stock valued at $607,108 in the last three months. 2.67% of the stock is currently owned by corporate insiders.
About Independent Bank Corp.
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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