ibusinesslines.com July 22, 2017

DA Davidson Initiates Coverage on Independent Bank Corporation (NASDAQ:IBCP)

17 July 2017, 05:07 | Justin Tyler

The stock increased 0.28% or $0.41 during the last trading session, reaching $144.85. The Champlain Investment Partners Llc holds 580,485 shares with $40.90M value, down from 619,410 last quarter. Independent Bank Corp. has a 12-month low of $46.74 and a 12-month high of $71.95. The stock declined 0.52% or $0.35 reaching $66.7 per share. About 1.39M shares traded. It has outperformed by 47.36% the S&P500. Therefore 50% are positive.

Analysts await GoPro Inc (NASDAQ:GPRO) to report earnings on July, 26. Btg Pactual Glob Asset Management invested in 42,672 shares.

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 7th. The stock has "Outperform" rating by Wedbush on Monday, October 19. The ex-dividend date was Thursday, June 22nd. The rating was downgraded by Raymond James to "Mkt Perform" on Tuesday, December 6. Compass Point raised Independent Bank Corp. from a "sell" rating to a "neutral" rating in a research note on Tuesday, March 28th. The firm has "Sell" rating given on Wednesday, August 31 by Sandler O'Neill. The firm has "Hold" rating given on Friday, September 11 by Evercore. Zacks downgraded the shares of INDB in report on Wednesday, August 26 to "Buy" rating. The stock of Independent Bank Corp (NASDAQ:INDB) has "Neutral" rating given on Friday, October 16 by Compass Point.

About 1.76 million shares traded. GoPro Inc (NASDAQ:GPRO) has declined 3.73% since July 13, 2016 and is downtrending. It has underperformed by 6.28% the S&P500.

Investors sentiment decreased to 1.52 in 2016 Q4. Its down 0.82, from 1.42 in 2016Q3. It fall, as 51 investors sold DFS shares while 284 reduced holdings. 29 funds opened positions while 53 raised stakes. Swiss Bancshares reported 0% of its portfolio in Juno Therapeutics Inc (NASDAQ:JUNO). Pinnacle Holding Ltd Liability holds 0% or 51,629 shares. Raymond James Assocs owns 89,604 shares or 0% of their United States portfolio. Northwestern Mutual Wealth Company has 0% invested in GoPro Inc (NASDAQ:GPRO). Wedbush downgraded the shares of GPRO in report on Wednesday, November 9 to "Neutral" rating. Court Place Limited Liability Company has 5,792 shares for 0.22% of their portfolio. Prudential Public Ltd Com holds 0.07% or 278,400 shares. Longview Partners (Guernsey) Ltd owns 2.99 million shares or 4.59% of their U.S. portfolio. Renaissance Limited Liability Corp holds 11,600 shares or 0% of its portfolio. Walthausen Company stated it has 96,608 shares. Eventide Asset Mngmt Lc has invested 0.11% in Juno Therapeutics Inc (NASDAQ:JUNO). Citigroup holds 0% or 22,080 shares.

Juno Therapeutics, Inc.is a biopharmaceutical company, which is focused on developing cellular immunotherapies for the treatment of cancer. The company has market cap of $456.52 million. The Company's product candidates JCAR017, JCAR014, and JCAR015, as well as an additional early stage product candidate incorporating a fully human binding domain, leverage auto technology to target CD19, a protein expressed on the surface of nearly all B cell leukemias and lymphomas.

Since January 30, 2017, it had 0 insider buys, and 8 selling transactions for $16.05 million activity. Moreover, Coho Partners Ltd. has 4.4% invested in the company for 543,371 shares. On Thursday, May 25 the insider RIBEIRO CARL sold $62,240. ODDLEIFSON CHRISTOPHER sold 2,000 shares worth $127,457. On average, analysts anticipate that Independent Bank Corporation will post $1.21 earnings per share for the current fiscal year. The shares were sold at an average price of $22.42, for a total value of $67,260.00.

Investors sentiment decreased to 1.52 in Q4 2016. Its down 0.04, from 0.99 in 2016Q3.

Several large investors have recently added to or reduced their stakes in INDB. Us Bank De holds 754 shares or 0% of its portfolio. Middleton & Communications Ma reported 8,276 shares or 0.13% of all its holdings. 700,766 were reported by Northern Corp. Credit Suisse Ag accumulated 21,164 shares or 0% of the stock. Tru Of Vermont accumulated 7 shares or 0% of the stock. 1492 Limited Liability Co reported 10,242 shares.

Among 20 analysts covering GoPro Inc (NASDAQ:GPRO), 4 have Buy rating, 8 Sell and 8 Hold. The Alberta - Canada-based Her Majesty The Queen In Right Of The Province Of Alberta As Represented By Alberta Invest Management Corp has invested 0.1% in Discover Financial Services (NYSE:DFS). Dimensional Fund Advisors LP now owns 259,784 shares of the financial services provider's stock worth $5,378,000 after buying an additional 2,690 shares in the last quarter. Bank of New York Mellon Corp owned 0.65% of Independent Bank Corporation worth $2,858,000 at the end of the most recent quarter.

American International Group Inc. raised its position in shares of Independent Bank Corporation by 7.1% in the first quarter.

Independent Bank Corp. had a net margin of 23.62% and a return on equity of 9.80%. TWAROZYNSKI JAMES J had sold 1,000 shares worth $21,405 on Friday, February 3. It also upped Cardiovascular Systems Inc. Natixis reported 44,884 shares stake. DA Davidson initiated coverage on Independent Bank Corporation in a research report on Wednesday, July 5th. They expect $2.69 EPS, down 6.92% or $0.20 from last year's $2.89 per share. IBTX's profit would be $23.03 million giving it 18.13 P/E if the $0.82 EPS is correct.

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