Independent Bank Corp (INDB) Now Covered by Analysts at Piper Jaffray Companies

Gladys Abbott
May 31, 2017

Tactile Systems Technology, a medical technology firm that develops and provides medical devices for the treatment of chronic diseases at home. The company had revenue of $52.45 million during the quarter, compared to analysts' expectations of $52 million. The Firm is a maker and distributor of the Flexitouch and Entre Systems, medical devices that help control symptoms of lymphedema, a chronic and progressive medical condition that is often an unintended outcome of cancer treatment, and the ACTitouch System, a medical device used to treat venous leg ulcers and chronic venous insufficiency. The stock has a market capitalization of $1.63 billion, a PE ratio of 19.35 and a beta of 1.30. The Company's products deliver long-term treatment of chronic diseases. The stock of Independent Bank Group Inc (NASDAQ:IBTX) has "Hold" rating given on Friday, October 23 by Sandler O'Neill. The research firm, a division of Accern, identifies negative and positive media coverage by reviewing more than 20 million blog and news sources in real-time. Alumasc Group PLC had 22 analyst reports since August 5, 2015 according to SRatingsIntel. (NYSE:C), 15 have Buy rating, 3 Sell and 12 Hold. The firm has "Buy" rating by Bank of America given on Thursday, May 11. CFO Robert Cozzone to Present at the 2017 Piper Jaffray ..." on May 08, 2017, also with their article: "Independent Bank Corp's (IBCP) CEO Brad Kessel on Q1 2017 Results - Earnings ..." published on April 24, 2017, published: "Attractive, But Independent Bank Corp. During the same quarter in the prior year, the business earned $0.67 earnings per share.

The share price of Independent Bank Corp.

SunTrust Banks also issued estimates for Independent Bank Group's Q3 2017 earnings at $0.85 EPS, Q4 2017 earnings at $0.90 EPS, FY2017 earnings at $3.38 EPS, Q1 2018 earnings at $1.00 EPS, Q2 2018 earnings at $1.04 EPS, Q3 2018 earnings at $1.08 EPS, Q4 2018 earnings at $1.08 EPS and FY2018 earnings at $4.20 EPS. Its up 0.48, from 1.14 in 2016Q3. It improved, as 7 investors sold Independent Bank Corporation (MI) shares while 23 reduced holdings.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. About 59,544 shares traded. California State Teachers Retirement Systems owns 41,990 shares or 0% of their USA portfolio. Voya Invest Management Ltd holds 0% of its portfolio in Independent Bank Corporation (MI) (NASDAQ:IBCP) for 16,070 shares. Barclays Capital upgraded the shares of XOM in report on Monday, October 12 to "Equal-Weight" rating. Martingale Asset Mngmt L P has 99,433 shares. Insiders own 5.38% of the company's stock. Blackrock Group Incorporated Ltd holds 0% or 21,771 shares in its portfolio. Chicago Equity Prtn Limited Liability stated it has 0.09% in Independent Bank Corp (NASDAQ:INDB). Natl Bank Of Mellon stated it has 134,022 shares. 650,928 were reported by Macquarie Group Limited. Prudential accumulated 0% or 48,956 shares.

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Since December 7, 2016, it had 0 insider purchases, and 7 insider sales for $1.23 million activity. Shares for $70,679 were sold by Collins Mark L. VAN LOAN CHARLES C also sold $228,477 worth of Independent Bank Corporation (MI) (NASDAQ:IBCP) shares. Shares for $957,460 were sold by Milton Bryan W. Insiders have sold 20,008 shares of company stock valued at $1,282,580 in the last three months. $276,367 worth of stock was sold by SULLIVAN MAURICE H JR on Friday, March 10. The Company owns all of the outstanding stock of Independent Bank (the Bank). The Company operates through its subsidiary, Rockland Trust Company (the Bank). On Thursday, September 1 the stock rating was maintained by Peel Hunt with "Buy". Independent Bank Corp has a one year low of $42.44 and a one year high of $71.95. The firm has a 50-day moving average price of $61.21 and a 200-day moving average price of $60.82.

Media stories about Independent Bank Group (NASDAQ:IBTX) have been trending positive on Friday, AlphaOne Sentiment reports. The stock of Independent Bank Corporation (MI) (NASDAQ:IBCP) has "Market Perform" rating given on Tuesday, August 11 by FIG Partners. FinnCap has "Buy" rating and GBX 225 target. The rating was initiated by Boenning & Scattergood with "Neutral" on Wednesday, May 4. Compass Point upgraded the stock to "Neutral" rating in Wednesday, March 29 report. Sapphire Star Partners LP acquired a new stake in shares of Independent Bank Group during the first quarter worth about $285,000. The firm has "Hold" rating given on Thursday, August 20 by TheStreet.

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