Sentiment Change Report: Independent Bank Corp (NASDAQ:INDB)

Independent Bank Corp. (NASDAQ:INDB) Logo

Sentiment for Independent Bank Corp (NASDAQ:INDB)

Independent Bank Corp (NASDAQ:INDB) institutional sentiment increased to 1.91 in Q1 2019. Its up 0.15, from 1.76 in 2018Q4. The ratio is better, as 103 active investment managers increased and opened new stock positions, while 54 trimmed and sold holdings in Independent Bank Corp. The active investment managers in our partner’s database now hold: 24.12 million shares, up from 23.32 million shares in 2018Q4. Also, the number of active investment managers holding Independent Bank Corp in their top 10 stock positions was flat from 2 to 2 for the same number . Sold All: 16 Reduced: 38 Increased: 71 New Position: 32.

Independent Bank Corp. operates as the bank holding firm for Rockland Trust Company that provides commercial banking services and products to individuals and small-to-medium sized businesses primarily in Massachusetts. The company has market cap of $2.33 billion. The companyÂ’s services and products include demand deposits and time certificates of deposit, as well as checking, money market, and savings accounts. It has a 15.5 P/E ratio. The Company’s loan portfolio includes commercial loans, such as commercial and industrial, asset-based, commercial real estate, commercial construction, and small business loans; consumer real estate loans, including residential mortgages, home equity loans, and loans for the construction of residential properties; and other consumer loans, such as personal loans.

The stock decreased 1.45% or $1 during the last trading session, reaching $67.74. About 60,128 shares traded. Independent Bank Corp. (NASDAQ:INDB) has declined 12.23% since August 15, 2018 and is downtrending. It has underperformed by 12.23% the S&P500.

Analysts await Independent Bank Corp. (NASDAQ:INDB) to report earnings on October, 17. They expect $1.37 earnings per share, up 7.87 % or $0.10 from last year’s $1.27 per share. INDB’s profit will be $47.08M for 12.36 P/E if the $1.37 EPS becomes a reality. After $1.42 actual earnings per share reported by Independent Bank Corp. for the previous quarter, Wall Street now forecasts -3.52 % negative EPS growth.

Rockland Trust Co holds 3.87% of its portfolio in Independent Bank Corp. for 613,742 shares. Excalibur Management Corp owns 19,717 shares or 1.51% of their US portfolio. Moreover, Endurance Wealth Management Inc. has 1.45% invested in the company for 109,680 shares. The New York-based Silvercrest Asset Management Group Llc has invested 1.25% in the stock. Channing Capital Management Llc, a Illinois-based fund reported 260,257 shares.

Independent Bank Corp. (NASDAQ:INDB) Ratings Coverage

Ratings analysis reveals 50% of Independent Bank’s analysts are positive. Out of 2 Wall Street analysts rating Independent Bank, 1 give it “Buy”, 0 “Sell” rating, while 1 recommend “Hold”. The lowest target is $8100 while the high is $8300. The stock’s average target of $82 is 21.05% above today’s ($67.74) share price. INDB was included in 6 notes of analysts from February 22, 2019. Compass Point upgraded the shares of INDB in report on Friday, July 19 to “Buy” rating.

More notable recent Independent Bank Corp. (NASDAQ:INDB) news were published by: Businesswire.com which released: “Independent Bank Corp. Announces Completion of MNB Bancorp Acquisition – Business Wire” on November 16, 2018, also Nasdaq.com with their article: “After-Hours Earnings Report for July 18, 2019 : MSFT, ISRG, COF, ETFC, PBCT, SKX, WAL, OZK, GBCI, EXPO, INDB, FFBC – Nasdaq” published on July 18, 2019, Fool.com published: “Independent Bank Corp (INDB) Q1 2019 Earnings Call Transcript – The Motley Fool” on April 22, 2019. More interesting news about Independent Bank Corp. (NASDAQ:INDB) were released by: Businesswire.com and their article: “Shareholders of Independent Bank Corp. Approve Blue Hills Bancorp, Inc Acquisition – Business Wire” published on January 25, 2019 as well as Nasdaq.com‘s news article titled: “Independent Bank (INDB) Completes Acquisition of Blue Hills – Nasdaq” with publication date: April 02, 2019.

Independent Bank Corp. (NASDAQ:INDB) Institutional Positions Chart

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