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 has improved, as 103 funds increased and started new holdings, while 54 reduced and sold stock positions in Independent Bank Corp. The funds in our partner’s database now possess: 24.12 million shares, up from 23.32 million shares in 2018Q4. Also, the number of funds holding Independent Bank Corp in their top 10 holdings 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 $2.54 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 16.95 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 increased 1.01% or $0.74 during the last trading session, reaching $74.06. About 171,711 shares traded or 43.07% up from the average. Independent Bank Corp. (NASDAQ:INDB) has risen 5.55% since July 21, 2018 and is uptrending. It has outperformed by 1.12% the S&P500.
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.
Since January 1, 0001, it had 0 buys, and 3 sales for $360,887 activity.
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 10.72% above today’s ($74.06) share price. INDB was included in 6 notes of analysts from February 22, 2019. Compass Point upgraded it to “Buy” rating and $8300 target in Friday, July 19 report.
More notable recent Independent Bank Corp. (NASDAQ:INDB) news were published by: Businesswire.com which released: “Rockland Trust Named Top Bank in Massachusetts and One of the World’s Best by Forbes – Business Wire” on March 06, 2019, also Businesswire.com with their article: “Independent Bank Corp. Announces Quarterly Dividend – Business Wire” published on June 20, 2019, Nasdaq.com published: “After-Hours Earnings Report for July 18, 2019 : MSFT, ISRG, COF, ETFC, PBCT, SKX, WAL, OZK, GBCI, EXPO, INDB, FFBC – Nasdaq” on July 18, 2019. More interesting news about Independent Bank Corp. (NASDAQ:INDB) were released by: Businesswire.com and their article: “Rockland Trust Raises the Stakes in Second Edition of its â€œSmall Business, Big Dreamsâ€ Contest – Business Wire” published on February 28, 2019 as well as Fool.com‘s news article titled: “Independent Bank Corp (INDB) Q1 2019 Earnings Call Transcript – The Motley Fool” with publication date: April 22, 2019.
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