Independent Bank Corp. (NASDAQ:INDB) Sees Unusual Trading Volume in Its Shares


Finally, BlackRock Institutional Trust Company N.A. boosted its stake in Independent Bank Corp by 2.2% in the third quarter. Shares saw a steep decrease in trading volume of 98.28% under the normal average daily volume. Independent Bank Corporation (MI) (NASDAQ:IBCP) has risen 39.51% since September 27, 2016 and is uptrending. It has outperformed by 14.13% the S&P500.

Veritas Investment Management Llp increased Cvs Caremark Corp (CVS) stake by 14.29% reported in 2017Q2 SEC filing. State Board Of Administration Of Florida Retirement System owns 16,106 shares. Los Angeles Cap Management & Equity holds 239,298 shares. Cvs Caremark Corp now has $82.83 billion valuation. The days to cover decreased to 13.0 and the percentage of shorted shares is 0.04% as of August 31. Winslow Evans & Crocker Inc owns 1,250 shares. Msci Inc (NYSE:MSCI) has risen 31.33% since September 26, 2016 and is uptrending. It has underperformed by 16.70% the S&P500.

Since June 12, 2017, it had 0 insider purchases, and 1 sale for $18.44 million activity. Its down 0.08, from 1.19 in 2017Q1. It dived, as 84 investors sold CVS shares while 559 reduced holdings. 15 funds opened positions while 36 raised stakes. As of the end of the quarter New England Research & Management, Inc. had bought a total of 1,000 shares growing its stake by 3.6%. Deutsche Bank Ag holds 0% of its portfolio in Independent Bank Corporation (MI) (NASDAQ:IBCP) for 50,822 shares. Bnp Paribas Arbitrage owns 83,537 shares or 0.03% of their United States portfolio. Baldwin Brothers Ma holds 4,136 shares. Oakbrook Invests Ltd has invested 0.01% of its portfolio in Vectren Corp (NYSE:VVC). As of quarter end Isthmus Partners, LLC had disposed of 539 shares trimming its position 3.9%. 14,074 are owned by Cypress Cap Lc. Grp Incorporated Inc reported 20,047 shares. Tci Wealth has invested 0% in Msci Inc (NYSE:MSCI). Kennedy Inc holds 0.08% of its portfolio in Independent Bank Corporation (MI) (NASDAQ:IBCP) for 182,878 shares. Moreover, Legal General Public Limited Com has 0.01% invested in Vectren Corp (NYSE:VVC) for 153,456 shares. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the stock. Therefore 17% are positive. Direct Line Insurance Group PLC had 159 analyst reports since July 27, 2015 according to SRatingsIntel. The firm earned "Hold" rating on Monday, December 12 by Jefferies. Weatherstone Capital Management acquired 3,432 shares as Msci Inc (MSCI)'s stock rose 4.89%. The stock of Upland Software Inc (NASDAQ:UPLD) earned "Buy" rating by Canaccord Genuity on Thursday, July 13. As per Friday, January 15, the company rating was maintained by Canaccord Genuity. Barclays Capital maintained the stock with "Overweight" rating in Thursday, November 19 report. The company was upgraded on Monday, August 24 by Vetr. On Friday, July 14 the stock rating was downgraded by Roth Capital to "Hold".

Among 6 analysts covering Independent Bank Corporation (NASDAQ:IBCP), 1 have Buy rating, 0 Sell and 5 Hold. Therefore 50% are positive. Independent Bank has $7400 highest and $45 lowest target. Independent Bank Corporation had 8 analyst reports since July 29, 2015 according to SRatingsIntel. The firm earned "Hold" rating on Thursday, August 20 by Zacks. The stock has an average rating of "Hold" and a consensus target price of $23.00. The rating was initiated by Boenning & Scattergood on Wednesday, May 4 with "Neutral". The financial services provider reported $0.27 earnings per share for the quarter, missing analysts' consensus estimates of $0.29 by ($0.02).

Piper Jaffray maintained Independent Bank Corp (NASDAQ:INDB) on Monday, July 24 with "Hold" rating. The rating was upgraded by Compass Point to "Buy" on Friday, January 22. Compass Point has "Buy" rating and $47 target. The stock of Independent Bank Corp (NASDAQ:INDB) earned "Buy" rating by Zacks on Wednesday, August 26. Sandler O'Neill downgraded Independent Bank Corp (NASDAQ:INDB) on Wednesday, August 31 to "Sell" rating. The stock of Independent Bank Corporation (MI) (NASDAQ:IBCP) has "Market Perform" rating given on Friday, September 23 by Hovde Group.

The company also recently announced a quarterly dividend, which will be paid on Friday, April 7th. Nadeau Gerard F also sold $388,811 worth of Independent Bank Corp (NASDAQ:INDB) on Monday, May 1. Pettit CD Baer sold 2,083 shares worth $203,030. About 129,996 shares traded. They expect $0.91 EPS, up 16.67% or $0.13 from last year's $0.78 per share. INDB's profit would be $25.00M giving it 20.00 P/E if the $0.91 EPS is correct. After $0.27 actual earnings per share reported by Independent Bank Corporation (MI) for the previous quarter, Wall Street now forecasts 18.52% EPS growth.

Investors sentiment decreased to 1.11 in Q2 2017. Its down 0.29, from 1.42 in 2017Q1. It fall, as 8 investors sold Independent Bank Corporation (MI) shares while 37 reduced holdings. 37 funds opened positions while 97 raised stakes. Hillsdale Mgmt reported 2,900 shares stake. Tctc Holding Limited Co has invested 0.02% of its portfolio in Independent Bank Corp (NASDAQ:INDB). Ajo L P accumulated 0.03% or 300,991 shares. Invesco has 59,722 shares. Bancorp Of Montreal Can holds 3,381 shares or 0% of its portfolio. Fmr Llc, Massachusetts-based fund reported 678,610 shares. Alliancebernstein Limited Partnership has invested 0% in Independent Bank Corp (NASDAQ:INDB).

Nationwide Fund Advsr accumulated 60,607 shares.



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