Independent Bank Corp’s (NASDAQ:INDB) Sentiment is 1.91

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 2019 Q1. Its up 0.15, from 1.76 in 2018Q4. The ratio increased, as 103 investment managers increased or started new equity positions, while 54 reduced and sold holdings in Independent Bank Corp. The investment managers in our partner’s database reported: 24.12 million shares, up from 23.32 million shares in 2018Q4. Also, the number of investment managers holding Independent Bank Corp in their top 10 equity 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 EPS, 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 EPS 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. The firm has “Buy” rating given on Friday, July 19 by Compass Point.

More notable recent Independent Bank Corp. (NASDAQ:INDB) news were published by: Fool.com which released: “Independent Bank Corp (INDB) Q1 2019 Earnings Call Transcript – The Motley Fool” on April 22, 2019, also Bizjournals.com with their article: “Rockland Trust taps ex-Commerce exec to lead new Worcester office – Boston Business Journal” published on October 25, 2018, Businesswire.com published: “Independent Bank Corp. Announces Completion of MNB Bancorp Acquisition – Business Wire” on November 16, 2018. More interesting news about Independent Bank Corp. (NASDAQ:INDB) were released by: Finance.Yahoo.com and their article: “Here’s What Hedge Funds Think About Independent Bank Corp (INDB) – Yahoo Finance” published on April 30, 2019 as well as Nasdaq.com‘s news article titled: “Independent Bank Breaks Below 200-Day Moving Average – Notable for INDB – Nasdaq” with publication date: April 22, 2019.

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

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.