A Director at Independent Bank is Exercising Options

Yesterday it was reported that a Director at Independent Bank (INDB), Daniel Obrien, exercised options to buy 500 INDB shares at $28.87 a share, for a total transaction value of $14.44K.

Following this transaction Daniel Obrien’s holding in the company was increased by 2.18% to a total of $1.4 million.

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The company has a one-year high of $87.11 and a one-year low of $49.25. INDB’s market cap is $1.97 billion and the company has a P/E ratio of 14.40. Currently, Independent Bank has an average volume of 161.89K.

The insider sentiment on Independent Bank has been neutral according to 52 insider trades in the past three months. This sentiment is lower than the average sentiment of company insiders in this sector.

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Independent Bank Corp. operates as a bank holding company. The company provides commercial banking, retail banking, and wealth management services and is engaged in sale of retail investments and insurance products in Massachusetts. It offers deposit products, including demand deposits, interest checking, money market accounts, savings accounts and time certificates of deposit. The company provides real estate loans, which include commercial mortgages that are secured by non-residential properties; residential mortgages that are secured primarily by owner-occupied residences; and mortgages for the construction of commercial and residential properties. Independent Bank was founded in 1985 and is headquartered in Rockland, MA.

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