Independent Bank (INDB) Getting Somewhat Positive News Coverage, Study Shows

Media stories about Independent Bank (NASDAQ:INDB) have trended somewhat positive recently, according to Accern. Accern rates the sentiment of news coverage by analyzing more than 20 million blog and news sources. Accern ranks coverage of companies on a scale of -1 to 1, with scores nearest to one being the most favorable. Independent Bank earned a media sentiment score of 0.02 on Accern’s scale. Accern also gave press coverage about the bank an impact score of 45.4836887086186 out of 100, indicating that recent news coverage is somewhat unlikely to have an effect on the stock’s share price in the immediate future.

Independent Bank (NASDAQ:INDB) opened at $69.50 on Monday. The stock has a market capitalization of $1,907.29, a price-to-earnings ratio of 21.52 and a beta of 0.96. Independent Bank has a 1-year low of $57.20 and a 1-year high of $76.30. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.17.

Independent Bank (NASDAQ:INDB) last issued its quarterly earnings data on Thursday, October 19th. The bank reported $0.87 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.91 by ($0.04). The firm had revenue of $87.84 million for the quarter, compared to analyst estimates of $88.57 million. Independent Bank had a return on equity of 9.76% and a net margin of 23.48%. The business’s revenue for the quarter was up 12.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.78 earnings per share. analysts predict that Independent Bank will post 3.41 EPS for the current year.

Several research firms have recently commented on INDB. Zacks Investment Research cut Independent Bank from a “buy” rating to a “hold” rating in a report on Monday, September 18th. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $73.00 price target on shares of Independent Bank in a report on Tuesday, October 3rd. Finally, Compass Point cut Independent Bank from a “buy” rating to a “neutral” rating and set a $76.00 price objective for the company. in a report on Wednesday, October 11th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating and five have given a hold rating to the stock. Independent Bank has a consensus rating of “Hold” and a consensus price target of $73.00.

In related news, Director Eileen C. Miskell sold 1,200 shares of Independent Bank stock in a transaction on Wednesday, October 25th. The stock was sold at an average price of $71.27, for a total transaction of $85,524.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Robert D. Cozzone sold 3,250 shares of Independent Bank stock in a transaction on Thursday, November 2nd. The stock was sold at an average price of $72.50, for a total value of $235,625.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 5,450 shares of company stock valued at $391,339. 2.67% of the stock is currently owned by insiders.

ILLEGAL ACTIVITY WARNING: “Independent Bank (INDB) Getting Somewhat Positive News Coverage, Study Shows” was published by Community Financial News and is the sole property of of Community Financial News. If you are viewing this story on another publication, it was illegally stolen and reposted in violation of United States & international copyright & trademark laws. The legal version of this story can be accessed at https://www.com-unik.info/2017/12/11/independent-bank-indb-getting-somewhat-positive-news-coverage-study-shows.html.

Independent Bank 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.

Insider Buying and Selling by Quarter for Independent Bank (NASDAQ:INDB)

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.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit