Independent Bank Corp (NASDAQ:INDB) Institutional Investor Sentiment Analysis

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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 improved, as 103 investment professionals opened new and increased stock positions, while 54 sold and reduced their equity positions in Independent Bank Corp. The investment professionals in our partner’s database now have: 24.12 million shares, up from 23.32 million shares in 2018Q4. Also, the number of investment professionals 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 Independent Bank Corp. (NASDAQ:INDB) rating on Friday, July 19. Compass Point has “Buy” rating and $8300 target.

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 Globenewswire.com with their article: “Independent Bank Corp. and Blue Hills Bancorp, Inc. Report Receipt of Regulatory Approvals and Anticipated Closing Date – GlobeNewswire” published on March 26, 2019, Nasdaq.com published: “Independent Bank Corp. (INDB) Beats Q2 Earnings and Revenue Estimates – Nasdaq” on July 18, 2019. More interesting news about Independent Bank Corp. (NASDAQ:INDB) were released by: Nasdaq.com and their article: “Are You Looking for a High-Growth Dividend Stock? Independent Bank Corp. (INDB) Could Be a Great Choice – Nasdaq” published on April 11, 2019 as well as Bizjournals.com‘s news article titled: “How a lunch between bankers led to the Belmont Savings acquisition – Boston Business Journal” with publication date: January 04, 2019.

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

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