Independent Bank Corp. (INDB) Analysts See $1.24 EPS

September 16, 2018 - By Vernon Prom

Independent Bank Corp. (NASDAQ:INDB) LogoInvestors sentiment increased to 1.88 in Q2 2018. Its up 0.33, from 1.55 in 2018Q1. It improved, as 11 investors sold Independent Bank Corp. shares while 30 reduced holdings. 18 funds opened positions while 59 raised stakes. 22.24 million shares or 1.87% more from 21.84 million shares in 2018Q1 were reported.
Excalibur Mgmt owns 1.23% invested in Independent Bank Corp. (NASDAQ:INDB) for 19,717 shares. Aperio Gru Ltd Com has invested 0% of its portfolio in Independent Bank Corp. (NASDAQ:INDB). Deutsche Retail Bank Ag holds 0% of its portfolio in Independent Bank Corp. (NASDAQ:INDB) for 55,364 shares. Nj State Employees Deferred Compensation Plan reported 0.14% stake. Bnp Paribas Arbitrage Sa holds 0% of its portfolio in Independent Bank Corp. (NASDAQ:INDB) for 2,034 shares. California Pub Employees Retirement System holds 0.01% or 50,515 shares. 27,315 were accumulated by New England Research & Mngmt. Fifth Third Comml Bank holds 196 shares. Blackrock owns 3.82M shares or 0.01% of their US portfolio. Silvercrest Asset Gru Incorporated Lc holds 1.65M shares. Wasatch Advisors holds 0.54% of its portfolio in Independent Bank Corp. (NASDAQ:INDB) for 573,682 shares. Tctc Holdings Ltd Liability Corporation holds 5,425 shares or 0.02% of its portfolio. Smithfield Tru accumulated 85 shares. Oppenheimer Asset Inc accumulated 0.01% or 2,744 shares. Raymond James And Assoc holds 3,204 shares.

Since April 26, 2018, it had 0 buys, and 8 insider sales for $1.22 million activity. 2,000 Independent Bank Corp. (NASDAQ:INDB) shares with value of $160,000 were sold by SEKSAY EDWARD H. Ruggiero Mark J also sold $20,314 worth of Independent Bank Corp. (NASDAQ:INDB) on Friday, May 18. Venables Thomas R sold $35,719 worth of stock. $268,939 worth of Independent Bank Corp. (NASDAQ:INDB) shares were sold by Nadeau Gerard F. 1,050 shares valued at $84,420 were sold by OBrien Daniel F on Wednesday, June 13. $121,370 worth of stock was sold by MISKELL EILEEN C on Wednesday, May 30.

Analysts expect Independent Bank Corp. (NASDAQ:INDB) to report $1.24 EPS on October, 18.They anticipate $0.37 EPS change or 42.53 % from last quarter’s $0.87 EPS. INDB’s profit would be $34.14M giving it 18.41 P/E if the $1.24 EPS is correct. After having $1.14 EPS previously, Independent Bank Corp.’s analysts see 8.77 % EPS growth. The stock increased 1.28% or $1.15 during the last trading session, reaching $91.3. About 67,394 shares traded. Independent Bank Corp. (NASDAQ:INDB) has risen 28.83% since September 16, 2017 and is uptrending. It has outperformed by 13.21% the S&P500.

Independent Bank Corp. (NASDAQ:INDB) Ratings Coverage

Among 3 analysts covering Independent Bank Corp (NASDAQ:INDB), 1 have Buy rating, 0 Sell and 2 Hold. Therefore 33% are positive. Independent Bank Corp had 3 analyst reports since April 20, 2018 according to SRatingsIntel. Keefe Bruyette & Woods maintained Independent Bank Corp. (NASDAQ:INDB) on Friday, April 20 with “Hold” rating. The stock has “Neutral” rating by PiperJaffray on Thursday, May 31. As per Monday, July 23, the company rating was upgraded by Wood.

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 $2.51 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 24.03 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.

More recent Independent Bank Corp. (NASDAQ:INDB) news were published by: Businesswire.com which released: “MNB Bancorp Shareholders Approve Pending Merger with Independent Bank Corp.” on September 12, 2018. Also Bizjournals.com published the news titled: “Tax cuts help boost profits at Mass. banks” on August 23, 2018. Bizjournals.com‘s news article titled: “Analyst: Chase poses ‘significant, long-term threat to Boston banks'” with publication date: August 29, 2018 was also an interesting one.

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

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