Following this purchase, Patrick holds a total of 34,813 shares directly. Additionally, he has an indirect ownership of 1,600.93 shares through an Employee Stock Ownership Plan (ESOP). Discover more insider trading patterns and 12+ additional exclusive insights with InvestingPro, including a comprehensive Pro Research Report available for IBCP. Discover more insider trading patterns and 12+ additional exclusive insights with InvestingPro, including a comprehensive Pro Research Report available for IBCP. Following this purchase, Patrick holds a total of 34,813 shares directly. Additionally, he has an indirect ownership of 1,600.93 shares through an Employee Stock Ownership Plan (ESOP).
In other recent news, Independent Bank (NASDAQ:INDB) Corporation reported a Q3 net income of $13.8 million, down from $17.5 million from the same period last year. Despite this decrease, the company observed growth in total loans and core deposits, particularly in commercial loans and municipal deposits. The net interest margin also improved to 3.37% from 3.23% year-over-year. Following the results, Piper Sandler adjusted its price target on Independent (LON:IOG) Bank shares to $37.00, maintaining a Neutral rating. The firm also raised its 2025 earnings per share (EPS) estimate for Independent Bank to $3.05, up $0.05, and introduced a 2026 EPS estimate of $3.15. Similarly, DA Davidson adjusted its outlook on Independent Bank, increasing the price target to $36.00, while maintaining a Neutral stance. Both firms' decisions reflect Independent Bank's solid fundamentals and financial performance. Independent Bank is also exploring AI to enhance operational efficiency, expecting it to contribute to revenue generation in 2025.
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