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Independent Bank Corp. (NASDAQ:IBCP) Director Stephen L. Gulis, Jr. unloaded 1,822 shares of Independent Bank Corp. 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 transaction of $23,503.80. Following the completion of the sale, the director now directly owns 7,167 shares of the company’s stock, valued at approximately $92,454. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Several analysts have recently commented on the stock. 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.

Shares of Independent Bank Corp. (NASDAQ:IBCP) opened at 12.75 on Wednesday. Independent Bank Corp. has a one year low of $5.51 and a one year high of $14.25. The stock’s 50-day moving average is $12.79 and its 200-day moving average is $12.54. The company has a market cap of $292.3 million and a P/E ratio of 3.79.

Independent Bank Corp. (NASDAQ:IBCP) last posted its quarterly 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.

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

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