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Equities researchers at Compass Point began coverage on shares of Independent Bank Corp (NASDAQ:INDB) in a research report issued on Thursday. The firm set a “buy” rating on the stock.

Shares of Independent Bank Corp (NASDAQ:INDB) opened at 36.92 on Thursday. Independent Bank Corp has a 1-year low of $32.97 and a 1-year high of $41.17. The stock’s 50-day moving average is $36.47 and its 200-day moving average is $37.37. The company has a market cap of $882.8 million and a P/E ratio of 16.44.

Independent Bank Corp (NASDAQ:INDB) last issued its quarterly 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. On average, analysts predict that Independent Bank Corp will post $2.48 earnings per share for the current fiscal year.

A number of other analysts have also recently weighed in on INDB. Analysts at SunTrust cut their price target on shares of Independent Bank Corp from $40.00 to $39.00 in a research note on Friday, August 8th. Separately, analysts at Sandler O’Neill upgraded shares of Independent Bank Corp from a “hold” rating to a “buy” rating in a research note on Friday, August 8th. Finally, analysts at Guggenheim upgraded shares of Independent Bank Corp from a “neutral” rating to a “buy” rating in a research note on Thursday, August 7th. They now have a $41.00 price target on the stock. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $40.00.

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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