Independent Bank Corp (NASDAQ:INDB) Director Carl Ribeiro sold 700 shares of the business’s stock in a transaction that occurred on Tuesday, December 12th. The shares were sold at an average price of $69.25, for a total transaction of $48,475.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

Independent Bank Corp (NASDAQ INDB) traded down $1.00 on Thursday, hitting $68.80. 67,080 shares of the stock traded hands, compared to its average volume of 90,429. Independent Bank Corp has a 1 year low of $57.20 and a 1 year high of $76.30. The stock has a market capitalization of $1,914.16, a PE ratio of 21.59 and a beta of 0.96. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.95 and a quick ratio of 0.95.

Independent Bank (NASDAQ:INDB) last announced its earnings results 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 had a net margin of 23.48% and a return on equity of 9.76%. The business had revenue of $87.84 million for the quarter, compared to analysts’ expectations of $88.57 million. During the same period in the prior year, the company posted $0.78 earnings per share. The firm’s quarterly revenue was up 12.5% on a year-over-year basis. equities analysts predict that Independent Bank Corp will post 3.41 earnings per share for the current year.

A number of hedge funds have recently made changes to their positions in the business. BlackRock Inc. increased its holdings in Independent Bank by 0.8% during the second 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 during the last quarter. Vanguard Group Inc. increased its holdings in Independent Bank by 1.0% during the second 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 during the last quarter. Dimensional Fund Advisors LP increased its holdings in Independent Bank by 1.9% during the second 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 during the last quarter. The Manufacturers Life Insurance Company increased its holdings in Independent Bank by 2.9% during the second 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 during the last quarter. Finally, Northern Trust Corp increased its holdings in Independent Bank by 5.5% during the second 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 during the last quarter. 79.75% of the stock is owned by institutional investors and hedge funds.

Several research firms have recently weighed in on INDB. Zacks Investment Research cut shares of 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 set a $73.00 price objective on shares of Independent Bank in a report on Tuesday, October 3rd. Finally, Compass Point cut shares of 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 investment analyst has rated the stock with a sell rating and five have given a hold rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $73.00.

WARNING: This piece of content was reported by Watch List News and is owned by of Watch List News. If you are viewing this piece of content on another site, it was illegally copied and reposted in violation of US and international copyright & trademark law. The legal version of this piece of content can be read at https://www.watchlistnews.com/insider-selling-independent-bank-corp-indb-director-sells-700-shares-of-stock/1764325.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 Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Independent Bank and related companies with Analyst Ratings Network's FREE daily email newsletter.