Independent Bank Corp. PT Raised to $38.00 (IBCP)
Equities researchers at Guggenheim hoisted their price objective on shares of Independent Bank Corp. (NASDAQ:IBCP) from $36.00 to $38.00 in a research report issued on Tuesday, Analyst Ratings News reports. The firm currently has a “neutral” rating on the stock. Guggenheim’s price objective would indicate a potential upside of 171.62% from the stock’s previous close.
Shares of Independent Bank Corp. (NASDAQ:IBCP) traded down 0.64% on Tuesday, hitting $13.99. The stock had a trading volume of 36,046 shares. Independent Bank Corp. has a 52 week low of $3.79 and a 52 week high of $14.25. The stock has a 50-day moving average of $12.01 and a 200-day moving average of $9.78. The company has a market cap of $319.2 million and a P/E ratio of 3.22.
Independent Bank Corp. (NASDAQ:IBCP) last released its earnings data on Wednesday, October 30th. The company reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.26 by $0.09. On average, analysts predict that Independent Bank Corp. will post $3.60 earnings per share for the current fiscal year.
Independent Bank Corporation is a bank holding company. The Company owns Independent Bank (NASDAQ:IBCP).
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