Media headlines about Independent Bank (NASDAQ:INDB) have been trending somewhat positive recently, Accern reports. The research group identifies negative and positive news coverage by reviewing more than 20 million blog and news sources. Accern ranks coverage of public companies on a scale of negative one to positive one, with scores closest to one being the most favorable. Independent Bank earned a coverage optimism score of 0.07 on Accern’s scale. Accern also assigned headlines about the bank an impact score of 44.8950321707878 out of 100, meaning that recent news coverage is somewhat unlikely to have an effect on the stock’s share price in the immediate future.
Here are some of the news headlines that may have effected Accern Sentiment Analysis’s analysis:
- Independent Bank (INDB) Lifted to “Hold” at BidaskClub (americanbankingnews.com)
- Independent Bank Corporation Announces Date for Its First Quarter 2018 Earnings Release (markets.financialcontent.com)
- Independent Bank Corp (INDB) Receives Consensus Recommendation of “Hold” from Analysts (americanbankingnews.com)
- Swiss National Bank Has $3.26 Million Position in Independent Bank Corp (INDB) (americanbankingnews.com)
- Independent Bank Corp (INDB) Shares Bought by Schwab Charles Investment Management Inc. (americanbankingnews.com)
Independent Bank (INDB) opened at $75.20 on Tuesday. Independent Bank has a 52 week low of $58.30 and a 52 week high of $76.30. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.95 and a quick ratio of 0.94. The company has a market cap of $2,050.55, a P/E ratio of 23.65 and a beta of 0.91.
INDB has been the subject of a number of recent analyst reports. Keefe, Bruyette & Woods reaffirmed a “hold” rating on shares of Independent Bank in a research note on Sunday, January 21st. Zacks Investment Research raised shares of Independent Bank from a “sell” rating to a “hold” rating in a research note on Friday, December 22nd. Compass Point raised shares of Independent Bank from a “neutral” rating to a “buy” rating in a research note on Monday, December 18th. Finally, BidaskClub raised shares of Independent Bank from a “sell” rating to a “hold” rating in a research note on Thursday, January 18th. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $73.00.
In other Independent Bank news, insider Christopher Oddleifson sold 1,200 shares of Independent Bank stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $72.60, for a total transaction of $87,120.00. Following the completion of the sale, the insider now owns 86,643 shares of the company’s stock, valued at approximately $6,290,281.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Donna L. Abelli sold 601 shares of Independent Bank stock in a transaction on Thursday, January 25th. The shares were sold at an average price of $72.05, for a total transaction of $43,302.05. The disclosure for this sale can be found here. Company insiders own 2.67% of the company’s stock.
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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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