The Independent Bank Group (IBTX) Receiving Somewhat Positive Media Coverage, Study Shows

Acrospire Investment Management LLC boosted its position in Independent Bank Group by 108.5% in the first quarter. Walthausen & Company sold 32,810 shares as the company's stock declined 4.08% while stock markets rallied.

Among 6 analysts covering Independent Bank Corporation (NASDAQ:IBCP), 1 have Buy rating, 0 Sell and 5 Hold.

Several analysts have recently weighed in on the stock. Bank of Montreal Can increased its position in shares of Independent Bank Corp.by 42.1% in the first quarter. Corporate insiders own 2.67% of the company's stock. 27 funds opened positions while 36 raised stakes. Moreover, Creative Planning has 0% invested in Independent Bank Corporation (MI) (NASDAQ:IBCP) for 60 shares. State Street has 407,458 shares.

The share price of Independent Bank Corporation (NASDAQ:IBCP) was up +1.39% during the last trading session, with a day high of 21.85. Prudential Financial Inc. now owns 46,808 shares of the bank's stock worth $3,043,000 after buying an additional 280 shares during the last quarter. US Bancorp DE boosted its position in shares of Independent Bank Corp.by 4.7% in the first quarter. Individual investors may need to conquer self-doubt in order to reach optimal performance when picking stocks. The United Kingdom-based Barclays Pcl has invested 0% in Independent Bank Group Inc (NASDAQ:IBTX). The firm has "Sell" rating given on Wednesday, August 31 by Sandler O'Neill.

Company chares are trading at $66.72 which is a tad above the 50 day moving average which is $63.76 and which is marginally higher than the 200 day moving average of $64.69. The company has a market cap of $458.66 million, a P/E ratio of 18.84 and a beta of 0.50. It is positive, as 7 investors sold Independent Bank Corporation (MI) shares while 23 reduced holdings. It increased, as 9 investors sold Independent Bank Group Inc shares while 30 reduced holdings.

Independent Bank Group (NASDAQ:IBTX) last posted its earnings results on Monday, April 24th. After $0.78 actual earnings per share reported by Independent Bank Corp for the previous quarter, Wall Street now forecasts 12.82% EPS growth. Independent Bank Corp. The company had revenue of $79.11 million for the quarter, compared to the consensus estimate of $80.19 million. The correct version of this report can be read at https://www.baseball-news-blog.com/2017/07/12/independent-bank-corporation-ibcp-to-post-q2-2017-earnings-of-0-28-per-share-da-davidson-forecasts.html. TETRA Tech had 17 analyst reports since November 9, 2015 according to SRatingsIntel.

The business also recently announced a quarterly dividend, which was paid on Friday, July 7th. Jpmorgan Chase holds 315,630 shares. This represents a $1.28 annualized dividend and a yield of 1.91%.

TRADEMARK VIOLATION NOTICE: "Independent Bank Corp". The value of the investment in INDB went from $245,000 to $55,565,000 a change of 22,579.6% for the reporting period. If you are reading this report on another website, it was illegally stolen and reposted in violation of USA & worldwide copyright and trademark laws.

A number of research firms have recently weighed in on INDB. The firm has "Buy" rating by Stephens given on Monday, June 26. Zacks upgraded the shares of INDB in report on Thursday, August 20 to "Hold" rating.

Independent Bank Corp. (NASDAQ:INDB)'s P/E is 22.63.

On March 10 Keefe Bruyette & Woods kept the stock rating at "Market Perform" and moved down the price target from $50.00 to $48.00. Zacks Investment Research cut shares of Independent Bank Corporation from a buy rating to a hold rating in a research report on Thursday, June 22nd. Six equities research analysts have rated the stock with a hold rating, The company presently has an average rating of "Hold" and an average price target of $61.00.

In related news, Director Carl Ribeiro sold 1,000 shares of the firm's stock in a transaction that occurred on Thursday, May 25th. The insider Kessel William B sold 3,000 shares worth $67,257. Following the transaction, the chief executive officer now directly owns 107,428 shares in the company, valued at approximately $2,408,535.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Viola Vincent J sold 6,223 shares worth $393,356. EVP Gerard F. Nadeau let go of 6,103 shares at an average price of $63.71 on Monday the 1st. Tower Research Capital LLC (trc) now owns 100 shares valued at $6,000. The disclosure for this sale can be found here. 46321 shares were traded on Independent Bank Corporation's last session.

Walthausen & Company decreased its stake in Independent Bank Corp (INDB) by 25.35% based on its latest 2016Q4 regulatory filing with the SEC. The Firm operates through its subsidiary, Rockland Trust Company. The Bank is a community-oriented commercial bank.

Latest News