Independent Bank Corp (INDB) Receives Daily Media Impact Score of -0.11

Media headlines about Independent Bank Corp (NASDAQ:INDB) have trended somewhat negative on Monday, according to Alpha One. Alpha One, a division of Accern, rates the sentiment of news coverage by monitoring more than twenty million blog and news sources in real time. Alpha One ranks coverage of companies on a scale of negative one to positive one, with scores closest to one being the most favorable. Independent Bank Corp earned a news impact score of -0.11 on Alpha One’s scale. Alpha One also assigned media headlines about the bank an impact score of 0 out of 100, indicating that recent news coverage is extremely unlikely to have an effect on the stock’s share price in the near term.

Shares of Independent Bank Corp (INDB) traded down 0.08% on Monday, hitting $61.80. 42,469 shares of the stock were exchanged. Independent Bank Corp has a 12 month low of $42.44 and a 12 month high of $71.95. The company has a market cap of $1.67 billion, a PE ratio of 20.95 and a beta of 0.96. The company has a 50-day moving average price of $63.25 and a 200 day moving average price of $64.83.

Independent Bank Corp (NASDAQ:INDB) last announced its quarterly earnings data on Thursday, April 20th. The bank reported $0.78 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.78. Independent Bank Corp had a net margin of 23.29% and a return on equity of 9.83%. The company had revenue of $79.11 million for the quarter, compared to the consensus estimate of $80.19 million. During the same period in the prior year, the firm posted $0.72 EPS. Equities analysts forecast that Independent Bank Corp will post $3.28 EPS for the current fiscal year.

A number of brokerages have recently issued reports on INDB. Piper Jaffray Companies began coverage on shares of Independent Bank Corp in a report on Monday, May 15th. They set a “neutral” rating and a $63.00 price objective for the company. Sandler O’Neill upgraded shares of Independent Bank Corp from a “sell” rating to a “hold” rating in a report on Monday, May 15th. Compass Point upgraded shares of Independent Bank Corp from a “sell” rating to a “neutral” rating in a report on Tuesday, March 28th. Finally, Zacks Investment Research cut shares of Independent Bank Corp from a “strong-buy” rating to a “hold” rating in a report on Wednesday, March 22nd.

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In other news, Director Carl Ribeiro sold 1,000 shares of the firm’s stock in a transaction dated Thursday, May 25th. The shares were sold at an average price of $62.24, for a total transaction of $62,240.00. Following the sale, the director now owns 14,647 shares of the company’s stock, valued at approximately $911,629.28. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Gerard F. Nadeau sold 6,103 shares of the firm’s stock in a transaction dated Monday, May 1st. The shares were sold at an average price of $63.71, for a total transaction of $388,822.13. The disclosure for this sale can be found here. Insiders have sold a total of 21,008 shares of company stock worth $1,344,820 over the last three months. 3.02% of the stock is currently owned by insiders.

About Independent Bank Corp

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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “NASDAQ:INDB”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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