| Over a week ago | ||||
Piper Sandler analyst… Piper Sandler analyst Mark Fitzgibbon downgraded Independent Bank to Neutral from Overweight with a price target of $67, down from $74. The analyst cites valuation for the downgrade. The premium at which the company's stock trades relative to peers "is now just about right," Fitzgibbon tells investors in a research note. | ||||
DA Davidson analyst David… DA Davidson analyst David Bishop downgraded Independent Bank to Neutral from Buy with a higher price target of $82, up from $75. The stock had a "material rally" since mid-March, and its -7.3% year-to-date performance is the best among its Northeast/New England bank peers, the analyst tells investors in a research note. "Green shoots" appear to be emerging in some areas of the economy as seen in better unemployment rate reported on Friday, but the impact on credit trends within the sector is likely to be at an early stage, Bishop adds. | ||||
DA Davidson analyst David… DA Davidson analyst David Bishop downgraded Independent Bank to Neutral from Buy. | ||||
| Over a month ago | ||||
"Rockland Trust is… "Rockland Trust is committed to striving to help our customers, our communities, and our colleagues as we face COVID-19 together," said Christopher Oddleifson, the Chief Executive Officer of Independent Bank Corp. and Rockland Trust Company. "Rockland Trust colleagues have pulled together like never before and the level of discretionary effort and commitment demonstrated by my colleagues to each other, to our customers, and to our communities is truly inspiring. I thank each and every one of my colleagues for their extraordinary efforts. Rockland Trust is anchored by a strong capital position, ample sources of liquidity, and strong core deposits. We believe we are well-positioned as we move forward during this unprecedented time." | ||||
| Over a quarter ago | ||||
Financial Analyst… Financial Analyst Fitzgibbon, along with Chief Commercial Banking Officer Nadeau of Independent Bank Corp (INDB), Chief Credit Officer Lanning of Investors Bancorp (ISBC) and Chief Credit Officer Giovianzzi of Provident Financial Services (PFS) provide an industry update on an Analyst/Industry conference call to be held on March 25 at 1 pm. | ||||
Financial Analyst… Financial Analyst Fitzgibbon, along with Chief Commercial Banking Officer Nadeau of Independent Bank Corp (INDB), Chief Credit Officer Lanning of Investors Bancorp (ISBC) and Chief Credit Officer Giovianzzi of Provident Financial Services (PFS) provide an industry update on an Analyst/Industry conference call to be held on March 25 at 1 pm. | |
The dividend will be… The dividend will be payable on April 9 to stockholders of record as of the close of business on March 30. | |
DA Davidson analyst David… DA Davidson analyst David Bishop upgraded Independent Bank to Buy from Neutral with a price target of $68, down from $83. The analyst cites an 8-year low multiple on the stock's tangible book value while noting that he has long viewed the company as one of the most fundamentally sound franchises in the community bank space. Bishop adds that the bank's "conservative culture and solid capital balance sheet" should support its "healthy" ROA. | |
DA Davidson analyst David… DA Davidson analyst David Bishop upgraded Independent Bank to Buy from Neutral. | |
As previously reported,… As previously reported, Compass Point analyst Laurie Havener Hunsicker downgraded Independent Bank to Neutral from Buy with a price target of $76, down from $91. Her estimate changes do reflect the indirect impact of COVID-19 fears on U.S. treasury yields and the yield curve inversion in addition to the 50 basis point Fed rate cut, but do not yet reflect an adjustment for credit deterioration if COVID-19 were to substantially damage the U.S. economy, the analyst noted. |