Share on StockTwits

Independent Bank Corp. (NASDAQ:IBCP) Director Stephen L. Gulis, Jr. sold 1,822 shares of the stock on the open market in a transaction dated Friday, May 23rd. The shares were sold at an average price of $12.90, for a total value of $23,503.80. Following the transaction, the director now directly owns 7,167 shares in the company, valued at approximately $92,454. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Shares of Independent Bank Corp. (NASDAQ:IBCP) traded up 0.16% on Tuesday, hitting $12.75. The stock had a trading volume of 78,356 shares. Independent Bank Corp. has a 1-year low of $5.51 and a 1-year high of $14.25. The stock’s 50-day moving average is $12.80 and its 200-day moving average is $12.48. The company has a market cap of $292.3 million and a P/E ratio of 3.79.

Independent Bank Corp. (NASDAQ:IBCP) last announced its earnings results on Monday, April 21st. The company reported $0.13 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.16 by $0.03. Analysts expect that Independent Bank Corp. will post $0.74 EPS for the current fiscal year.

A number of analysts have recently weighed in on IBCP shares. Analysts at Zacks downgraded shares of Independent Bank Corp. from a “hold” rating to a “sell” rating in a research note on Wednesday, May 7th. Analysts at Keefe, Bruyette & Woods upgraded shares of Independent Bank Corp. to an “outperform” rating in a research note on Friday, March 14th. They now have a $44.00 price target on the stock, up previously from $40.00.

Independent Bank Corporation is a bank holding company. The Company owns Independent Bank (NASDAQ:IBCP).

Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.