Analysts See $0.92 EPS for Independent Bank Corp. (INDB); Ejf Capital Cut Independent Bank Mich (IBCP) Stake By $15.40 Million

Analysts expect Independent Bank Corp. (NASDAQ:INDB) to report $0.92 EPS on January, 18.They anticipate $0.16 EPS change or 21.05% from last quarter’s $0.76 EPS. INDB’s profit would be $25.25M giving it 18.98 P/E if the $0.92 EPS is correct. After having $0.87 EPS previously, Independent Bank Corp.’s analysts see 5.75% EPS growth. The stock decreased 2.03% or $1.45 during the last trading session, reaching $69.85. About 72,199 shares traded. Independent Bank Corp. (NASDAQ:INDB) has risen 30.83% since December 30, 2016 and is uptrending. It has outperformed by 14.13% the S&P500.

Ejf Capital Llc decreased Independent Bank Corp Mich (IBCP) stake by 48.28% reported in 2017Q3 SEC filing. Ejf Capital Llc sold 700,000 shares as Independent Bank Corp Mich (IBCP)’s stock declined 4.64%. The Ejf Capital Llc holds 750,000 shares with $16.99 million value, down from 1.45 million last quarter. Independent Bank Corp Mich now has $476.81 million valuation. The stock decreased 2.19% or $0.5 during the last trading session, reaching $22.35. About 112,830 shares traded or 15.16% up from the average. Independent Bank Corporation (NASDAQ:IBCP) has risen 39.51% since December 30, 2016 and is uptrending. It has outperformed by 22.81% the S&P500.

Analysts await Independent Bank Corporation (NASDAQ:IBCP) to report earnings on January, 25. They expect $0.32 earnings per share, up 18.52% or $0.05 from last year’s $0.27 per share. IBCP’s profit will be $6.83 million for 17.46 P/E if the $0.32 EPS becomes a reality. After $0.32 actual earnings per share reported by Independent Bank Corporation for the previous quarter, Wall Street now forecasts 0.00% EPS growth.

Investors sentiment increased to 1.37 in Q3 2017. Its up 0.24, from 1.13 in 2017Q2. It is positive, as 8 investors sold IBCP shares while 30 reduced holdings. 14 funds opened positions while 38 raised stakes. 16.96 million shares or 0.60% more from 16.86 million shares in 2017Q2 were reported. Adams Diversified Equity Fund has 47,300 shares. Millennium Mgmt invested in 274,272 shares. Prudential Financial invested in 0% or 35,990 shares. Financial Bank Of Montreal Can stated it has 0% in Independent Bank Corporation (NASDAQ:IBCP). Moreover, Virtu Fin Limited Com has 0% invested in Independent Bank Corporation (NASDAQ:IBCP) for 13,176 shares. 2,300 were reported by Great West Life Assurance Can. Moreover, Pnc Financial Grp has 0% invested in Independent Bank Corporation (NASDAQ:IBCP). 88,532 were reported by California Pub Employees Retirement. Goldman Sachs Gp Inc stated it has 0% of its portfolio in Independent Bank Corporation (NASDAQ:IBCP). Citadel Ltd Com holds 40,540 shares. California State Teachers Retirement System invested in 0% or 32,858 shares. Catalyst Advisors Limited Liability has invested 0.03% of its portfolio in Independent Bank Corporation (NASDAQ:IBCP). Blackrock has 1.73 million shares for 0% of their portfolio. Brandywine Investment Mngmt Ltd Liability Co invested 0% of its portfolio in Independent Bank Corporation (NASDAQ:IBCP). Wells Fargo Mn holds 0% or 128,563 shares in its portfolio.

Among 8 analysts covering Independent Bank Corporation (NASDAQ:IBCP), 2 have Buy rating, 0 Sell and 6 Hold. Therefore 25% are positive. Independent Bank Corporation had 12 analyst reports since July 29, 2015 according to SRatingsIntel. Keefe Bruyette & Woods maintained it with “Hold” rating and $25.0 target in Thursday, December 21 report. The firm has “Hold” rating given on Wednesday, December 6 by Keefe Bruyette & Woods. The company was maintained on Tuesday, October 3 by Keefe Bruyette & Woods. As per Friday, September 23, the company rating was initiated by Hovde Group. The firm earned “Hold” rating on Thursday, August 20 by TheStreet. Fig Partners downgraded Independent Bank Corporation (NASDAQ:IBCP) on Tuesday, August 11 to “Outperform” rating. The rating was initiated by Boenning & Scattergood on Wednesday, May 4 with “Neutral”. Compass Point upgraded Independent Bank Corporation (NASDAQ:IBCP) on Monday, December 18 to “Buy” rating. FIG Partners downgraded the stock to “Market Perform” rating in Tuesday, August 11 report.

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 $1.92 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 23.1 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.

Investors sentiment decreased to 1.17 in Q3 2017. Its down 0.46, from 1.63 in 2017Q2. It is negative, 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. First Mercantile Tru Com has invested 0.02% in Independent Bank Corp. (NASDAQ:INDB). Moreover, Art Advisors Ltd Liability Corp has 0.02% invested in Independent Bank Corp. (NASDAQ:INDB) for 4,010 shares. Ameritas Partners Inc holds 2,235 shares or 0.01% of its portfolio. State Of Alaska Department Of Revenue owns 5,406 shares for 0.02% of their portfolio. Price T Rowe Md reported 0% of its portfolio in Independent Bank Corp. (NASDAQ:INDB). 3,918 are owned by Natixis. Savings Bank Of Montreal Can reported 3,381 shares. Walthausen Limited Com stated it has 86,948 shares or 0.61% of all its holdings. Sei Invs reported 2,697 shares. Penobscot Invest Management Company holds 0.06% in Independent Bank Corp. (NASDAQ:INDB) or 2,885 shares. New England Private Wealth Advisors Limited Liability has invested 0.07% in Independent Bank Corp. (NASDAQ:INDB). Fuller Thaler Asset Mgmt stated it has 895 shares. Wealth Architects Ltd Llc reported 0.09% stake. Jpmorgan Chase And Co reported 140,764 shares or 0% of all its holdings. Geode Capital Mgmt Ltd Limited Liability Company holds 240,120 shares.

Since October 25, 2017, it had 0 buys, and 2 insider sales for $134,001 activity. The insider RIBEIRO CARL sold $48,475. 1,200 Independent Bank Corp. (NASDAQ:INDB) shares with value of $85,526 were sold by MISKELL EILEEN C.

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