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Independent Bank Corp. (NASDAQ:IBCP) Director Stephen L. Gulis, Jr. sold 7,167 shares of the company’s stock on the open market in a transaction dated Thursday, May 29th. The stock was sold at an average price of $12.90, for a total value of $92,454.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

IBCP has been the subject of a number of recent research reports. 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 Corp. (NASDAQ:IBCP) traded up 0.77% on Friday, hitting $13.08. 79,257 shares of the company’s stock traded hands. 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 $12.78 and its 200-day moving average is $12.55. The company has a market cap of $299.8 million and a price-to-earnings ratio of 3.87.

Independent Bank Corp. (NASDAQ:IBCP) last announced its earnings results on Monday, April 21st. The company reported $0.13 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.16 by $0.03. On average, analysts predict that Independent Bank Corp. will post $0.74 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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