Independent Bank Corp (NASDAQ:INDB) Director William M. Parent Sells 9,831 Shares

Independent Bank Corp (NASDAQ:INDB) Director William M. Parent sold 9,831 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $83.54, for a total transaction of $821,281.74. Following the completion of the sale, the director now owns 20,058 shares in the company, valued at $1,675,645.32. The transaction was disclosed in a document filed with the SEC, which is available at this link.

William M. Parent also recently made the following trade(s):

  • On Wednesday, September 11th, William M. Parent sold 7,500 shares of Independent Bank stock. The shares were sold at an average price of $75.00, for a total transaction of $562,500.00.

INDB stock traded up $0.65 during midday trading on Wednesday, reaching $83.33. 115,113 shares of the stock were exchanged, compared to its average volume of 123,251. Independent Bank Corp has a 52 week low of $62.33 and a 52 week high of $87.64. The company has a fifty day moving average price of $82.83 and a 200 day moving average price of $75.28. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.98 and a quick ratio of 0.97. The stock has a market capitalization of $2.89 billion, a PE ratio of 17.77 and a beta of 1.20.

Independent Bank (NASDAQ:INDB) last posted its earnings results on Thursday, October 17th. The bank reported $1.49 EPS for the quarter, beating the consensus estimate of $1.40 by $0.09. Independent Bank had a return on equity of 12.60% and a net margin of 28.03%. The firm had revenue of $136.41 million during the quarter. As a group, analysts anticipate that Independent Bank Corp will post 5.65 earnings per share for the current fiscal year.

Several large investors have recently added to or reduced their stakes in INDB. Toronto Dominion Bank acquired a new position in shares of Independent Bank in the second quarter valued at approximately $27,000. Doyle Wealth Management bought a new position in Independent Bank in the 2nd quarter valued at approximately $29,000. Public Employees Retirement System of Ohio boosted its position in Independent Bank by 51.3% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 410 shares of the bank’s stock worth $31,000 after buying an additional 139 shares during the period. Meeder Asset Management Inc. acquired a new stake in Independent Bank during the 2nd quarter worth approximately $38,000. Finally, Point72 Asset Management L.P. bought a new stake in Independent Bank during the 2nd quarter worth approximately $38,000. Institutional investors own 78.57% of the company’s stock.

A number of research firms recently issued reports on INDB. Zacks Investment Research upgraded shares of Independent Bank from a “sell” rating to a “hold” rating in a research report on Friday, October 25th. BidaskClub lowered shares of Independent Bank from a “buy” rating to a “hold” rating in a research report on Saturday, November 23rd. Finally, ValuEngine raised shares of Independent Bank from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Independent Bank presently has a consensus rating of “Hold” and a consensus target price of $82.00.

Independent Bank Company Profile

Independent Bank Corp. operates as the bank holding company for Rockland Trust Company that provides commercial banking products and services to individuals and small-to-medium sized businesses primarily in Massachusetts. Its products and services include demand deposits and time certificates of deposit, as well as checking, money market, and savings accounts.

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Insider Buying and Selling by Quarter for Independent Bank (NASDAQ:INDB)

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