Insider Selling: Independent Bank Corp (INDB) Insider Sells 1,200 Shares of Stock
Independent Bank Corp (NASDAQ:INDB) insider Christopher Oddleifson sold 1,200 shares of the company’s stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $72.60, for a total value of $87,120.00. Following the sale, the insider now owns 86,643 shares of the company’s stock, valued at approximately $6,290,281.80. The transaction was disclosed in a filing with the SEC, which is accessible through this link.
Independent Bank Corp (NASDAQ INDB) opened at $68.60 on Tuesday. The company has a quick ratio of 0.94, a current ratio of 0.95 and a debt-to-equity ratio of 0.17. The company has a market capitalization of $1,970.42, a P/E ratio of 21.37 and a beta of 0.91. Independent Bank Corp has a twelve month low of $58.30 and a twelve month high of $76.30.
Independent Bank (NASDAQ:INDB) last posted its quarterly earnings results on Thursday, January 18th. The bank reported $0.89 EPS for the quarter, meeting the consensus estimate of $0.89. The firm had revenue of $89.70 million during the quarter, compared to analysts’ expectations of $88.31 million. Independent Bank had a return on equity of 10.00% and a net margin of 24.21%. The company’s revenue for the quarter was up 17.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.76 EPS. equities research analysts expect that Independent Bank Corp will post 4.38 earnings per share for the current year.
INDB has been the subject of several recent analyst reports. Compass Point upgraded Independent Bank from a “neutral” rating to a “buy” rating in a research note on Monday, December 18th. Keefe, Bruyette & Woods restated a “hold” rating on shares of Independent Bank in a research note on Sunday, January 21st. BidaskClub upgraded Independent Bank from a “sell” rating to a “hold” rating in a research note on Thursday, January 18th. Finally, Zacks Investment Research upgraded Independent Bank from a “sell” rating to a “hold” rating in a research note on Friday, December 22nd. Five analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $73.00.
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About Independent Bank
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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