News headlines about Independent Bank (NASDAQ:INDB) have trended somewhat positive recently, according to Accern Sentiment Analysis. The research firm scores the sentiment of news coverage by reviewing more than twenty million news and blog sources in real time. Accern ranks coverage of public companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. Independent Bank earned a daily sentiment score of 0.13 on Accern’s scale. Accern also assigned news stories about the bank an impact score of 46.4442247217262 out of 100, meaning that recent news coverage is somewhat unlikely to have an impact on the stock’s share price in the immediate future.
These are some of the news stories that may have impacted Accern’s scoring:
INDB has been the subject of several analyst reports. Zacks Investment Research raised Independent Bank from a “sell” rating to a “hold” rating in a report on Friday, December 22nd. Compass Point raised Independent Bank from a “neutral” rating to a “buy” rating in a research note on Monday, December 18th. Keefe, Bruyette & Woods reaffirmed a “hold” rating on shares of Independent Bank in a research note on Sunday, January 21st. Finally, BidaskClub raised Independent Bank from a “sell” rating to a “hold” rating in a research note on Thursday, January 18th. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $73.00.
Independent Bank (NASDAQ:INDB) traded up $1.65 on Wednesday, reaching $71.45. The company’s stock had a trading volume of 63,929 shares, compared to its average volume of 80,901. The firm has a market cap of $1,916.90, a price-to-earnings ratio of 20.79 and a beta of 0.91. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.95 and a quick ratio of 0.94. Independent Bank has a 12-month low of $58.30 and a 12-month high of $76.30.
Independent Bank (NASDAQ:INDB) last announced its quarterly earnings data on Thursday, January 18th. The bank reported $0.89 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.89. Independent Bank had a return on equity of 10.00% and a net margin of 24.21%. The company had revenue of $89.70 million for the quarter, compared to analyst estimates of $88.31 million. During the same quarter last year, the firm earned $0.76 EPS. Independent Bank’s revenue for the quarter was up 17.2% compared to the same quarter last year. equities research analysts expect that Independent Bank will post 4.38 EPS for the current year.
In other Independent Bank news, insider Christopher Oddleifson sold 1,200 shares of Independent Bank stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $72.60, for a total value of $87,120.00. Following the completion of the transaction, the insider now owns 86,643 shares in the company, valued at approximately $6,290,281.80. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Daniel F. Obrien sold 1,000 shares of Independent Bank 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 owns 22,912 shares of the company’s stock, valued at approximately $1,608,193.28. The disclosure for this sale can be found here. Insiders have sold a total of 3,501 shares of company stock valued at $249,087 in the last 90 days. 2.67% of the stock is owned by corporate insiders.
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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.
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