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.
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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