Independent Bank Corp. (INDB) Reaches $75.70 High on Mar, 16; Riggs National (RIGS) Sentiment Is 2.57

March 16, 2018 - By reb123z

The ETF increased 0.14% or $0.0357 during the last trading session, reaching $24.6955. About 11,530 shares traded. RiverFront Strategic Income ETF (RIGS) has risen 2.44% since March 16, 2017 and is uptrending. It has underperformed by 14.26% the S&P500.

The stock of Independent Bank Corp. (NASDAQ:INDB) reached all time high today, Mar, 16 and still has $81.00 target or 7.00% above today’s $75.70 share price. This indicates more upside for the $2.08B company. This technical setup was reported by If the $81.00 PT is reached, the company will be worth $145.74 million more. The stock increased 1.00% or $0.75 during the last trading session, reaching $75.7. About 55,950 shares traded. Independent Bank Corp. (NASDAQ:INDB) has risen 30.83% since March 16, 2017 and is uptrending. It has outperformed by 14.13% the S&P500.

Among 8 analysts covering Independent Bank (NASDAQ:INDB), 1 have Buy rating, 1 Sell and 6 Hold. Therefore 13% are positive. Independent Bank has $85.0 highest and $45 lowest target. $55.71’s average target is -26.41% below currents $75.7 stock price. Independent Bank had 24 analyst reports since July 20, 2015 according to SRatingsIntel. The firm has “Hold” rating given on Thursday, December 21 by Keefe Bruyette & Woods. Compass Point upgraded the shares of INDB in report on Monday, December 18 to “Buy” rating. The firm earned “Hold” rating on Monday, June 26 by Keefe Bruyette & Woods. The firm has “Buy” rating by Compass Point given on Friday, July 21. Compass Point upgraded the stock to “Buy” rating in Friday, January 22 report. The rating was maintained by Piper Jaffray with “Hold” on Thursday, October 19. Keefe Bruyette & Woods maintained the shares of INDB in report on Tuesday, October 3 with “Hold” rating. Keefe Bruyette & Woods maintained Independent Bank Corp. (NASDAQ:INDB) on Friday, January 19 with “Hold” rating. The rating was maintained by Keefe Bruyette & Woods on Sunday, July 23 with “Hold”. The company was upgraded on Wednesday, March 29 by Compass Point.

Independent Bank Corp. operates as the bank holding firm for Rockland Trust Company that provides commercial banking services and products to individuals and small-to-medium sized businesses primarily in Massachusetts. The company has market cap of $2.08 billion. The companyÂ’s services and products include demand deposits and time certificates of deposit, as well as checking, money market, and savings accounts. It has a 23.73 P/E ratio. The Company’s loan portfolio includes commercial loans, such as commercial and industrial, asset-based, commercial real estate, commercial construction, and small business loans; consumer real estate loans, including residential mortgages, home equity loans, and loans for the construction of residential properties; and other consumer loans, such as personal loans.

Analysts await Independent Bank Corp. (NASDAQ:INDB) to report earnings on April, 19. They expect $1.03 earnings per share, up 32.05% or $0.25 from last year’s $0.78 per share. INDB’s profit will be $28.33 million for 18.37 P/E if the $1.03 EPS becomes a reality. After $0.89 actual earnings per share reported by Independent Bank Corp. for the previous quarter, Wall Street now forecasts 15.73% EPS growth.

Investors sentiment increased to 1.21 in Q3 2017. Its up 0.04, from 1.17 in 2017Q2. It improved, as 9 investors sold Independent Bank Corp. shares while 43 reduced holdings. 15 funds opened positions while 46 raised stakes. 21.80 million shares or 4.23% more from 20.92 million shares in 2017Q2 were reported. State Bank Of America De has 110,697 shares. Parametric Portfolio Assoc Limited Liability Corp has invested 0.01% in Independent Bank Corp. (NASDAQ:INDB). Fuller And Thaler Asset Inc has invested 0% of its portfolio in Independent Bank Corp. (NASDAQ:INDB). Emerald Mutual Fund Advisers Tru invested in 15,250 shares. Price T Rowe Associate Md reported 0% in Independent Bank Corp. (NASDAQ:INDB). Piedmont Investment Advsrs Ltd Liability Corporation holds 0.01% or 5,977 shares in its portfolio. Bnp Paribas Arbitrage Sa accumulated 0% or 15,018 shares. Moreover, Ballentine Prns Limited Com has 0.02% invested in Independent Bank Corp. (NASDAQ:INDB). Ubs Asset Management Americas holds 0% or 14,182 shares in its portfolio. Citadel Advisors Lc reported 20,131 shares. Citigroup Inc holds 0% or 12,738 shares in its portfolio. Endurance Wealth Mgmt owns 127,408 shares or 1.58% of their US portfolio. California Employees Retirement holds 0% of its portfolio in Independent Bank Corp. (NASDAQ:INDB) for 27,511 shares. 4,565 are owned by Boston Advisors Limited Company. Rech & holds 2,379 shares.

Since October 25, 2017, it had 1 insider buy, and 4 insider sales for $208,287 activity. $56,141 worth of Independent Bank Corp. (NASDAQ:INDB) shares were bought by Cozzone Robert D. The insider Abelli Donna L sold $43,302. ODDLEIFSON CHRISTOPHER sold $87,125 worth of stock. RIBEIRO CARL sold $48,475 worth of stock. $85,526 worth of stock was sold by MISKELL EILEEN C on Wednesday, October 25.

Riverfront Investment Group Llc holds 3.84% of its portfolio in RiverFront Strategic Income ETF for 6.22 million shares. Koshinski Asset Management Inc. owns 141,715 shares or 1.18% of their US portfolio. Moreover, Bb&T Securities Llc has 0.2% invested in the company for 586,388 shares. The Minnesota-based Cahill Financial Advisors Inc has invested 0.2% in the stock. Janney Montgomery Scott Llc, a Pennsylvania-based fund reported 443,122 shares.

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