Independent Bank Corp. (NASDAQ:INDB) Director Daniel F. Obrien sold 1,000 shares of the stock in a transaction on Tuesday, November 21st. The shares were 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 in the company, valued at approximately $1,608,193.28. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Independent Bank Corp. (NASDAQ INDB) traded down $0.55 on Friday, hitting $69.50. 27,928 shares of the company were exchanged, compared to its average volume of 91,273. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.95 and a current ratio of 0.95. Independent Bank Corp. has a 1-year low of $57.20 and a 1-year high of $76.30. The company has a market cap of $1,922.39, a PE ratio of 21.69 and a beta of 0.98.

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

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. increased its position in shares of Independent Bank Corp. by 0.8% in the 2nd quarter. BlackRock Inc. now owns 3,308,074 shares of the bank’s stock valued at $220,483,000 after buying an additional 26,356 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Independent Bank Corp. by 1.0% in the 2nd quarter. Vanguard Group Inc. now owns 2,387,040 shares of the bank’s stock valued at $159,097,000 after buying an additional 24,774 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Independent Bank Corp. by 1.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,300,006 shares of the bank’s stock valued at $86,646,000 after buying an additional 24,072 shares in the last quarter. The Manufacturers Life Insurance Company increased its position in shares of Independent Bank Corp. by 2.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 770,690 shares of the bank’s stock valued at $51,367,000 after buying an additional 21,629 shares in the last quarter. Finally, Northern Trust Corp increased its position in shares of Independent Bank Corp. by 5.5% in the 2nd quarter. Northern Trust Corp now owns 767,745 shares of the bank’s stock valued at $51,171,000 after buying an additional 40,043 shares in the last quarter. Institutional investors and hedge funds own 78.63% of the company’s stock.

A number of research firms have recently weighed in on INDB. Compass Point downgraded Independent Bank Corp. from a “buy” rating to a “neutral” rating and set a $76.00 price target on the stock. in a research note on Wednesday, October 11th. They noted that the move was a valuation call. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $73.00 price target on shares of Independent Bank Corp. in a research note on Tuesday, October 3rd. Finally, Zacks Investment Research raised Independent Bank Corp. from a “hold” rating to a “buy” rating and set a $80.00 price target on the stock in a research note on Wednesday, September 20th. One analyst has rated the stock with a sell rating and five have assigned a hold rating to the stock. Independent Bank Corp. presently has an average rating of “Hold” and an average target price of $73.00.

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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.

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

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