Sandler O’Neill Upgrades Independent Bank Corp. to “Buy” (INDB)
A number of other firms have also recently commented on INDB. Analysts at Guggenheim upgraded shares of Independent Bank Corp. from a “neutral” rating to a “buy” rating in a research note on Thursday. They now have a $41.00 price target on the stock. Analysts at Keefe, Bruyette & Woods reiterated a “market perform” rating on shares of Independent Bank Corp. in a research note on Wednesday, July 2nd. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Independent Bank Corp. currently has an average rating of “Buy” and a consensus price target of $40.50.
Independent Bank Corp. (NASDAQ:INDB) opened at 35.06 on Friday. Independent Bank Corp. has a 52-week low of $32.97 and a 52-week high of $41.17. The stock’s 50-day moving average is $37.50 and its 200-day moving average is $37.35. The company has a market cap of $837.8 million and a P/E ratio of 15.51.
Independent Bank Corp. (NASDAQ:INDB) last released its earnings data on Thursday, July 17th. The company reported $0.63 EPS for the quarter, meeting the Thomson Reuters consensus estimate of $0.63. During the same quarter in the prior year, the company posted $0.58 earnings per share. Analysts expect that Independent Bank Corp. will post $2.48 EPS for the current fiscal year.
Independent Bank Corp. is a bank holding company. The Company owns 100% interest in Rockland Trust Company (NASDAQ:INDB), a trust company.
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