Insider Selling: Independent Bank Corp. Chairman Sells 3,523 Shares of Stock (IBCP)
Independent Bank Corp. (NASDAQ:IBCP) Chairman Michael M. Magee, Jr. unloaded 3,523 shares of the stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $12.90, for a total value of $45,446.70. Following the sale, the chairman now directly owns 71,659 shares in the company, valued at approximately $924,401. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.
A number of analysts have recently weighed in on IBCP shares. Analysts at FIG Partners initiated coverage on shares of Independent Bank Corp. in a research note on Tuesday. They set a “market perform” rating 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.
Shares of Independent Bank Corp. (NASDAQ:IBCP) opened at 12.90 on Thursday. Independent Bank Corp. has a 52 week low of $5.51 and a 52 week high of $14.25. The stock’s 50-day moving average is $12.83 and its 200-day moving average is $12.7. The company has a market cap of $295.7 million and a price-to-earnings ratio of 3.83.
Independent Bank Corp. (NASDAQ:IBCP) last issued its quarterly earnings data on Monday, April 21st. The company reported $0.13 earnings per share (EPS) for the quarter, missing the 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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