Hennessy Advisors Has Trimmed By $2.98 Million Its Independent Bank Mass (INDB) Position; Ameris Bancorp (ABCB) Has 1.31 Sentiment

June 20, 2017 - By Louis Casey

Ameris Bancorp is a financial holding company. The company has market cap of $1.74 billion. The Company’s business is conducted through its banking subsidiary, Ameris Bank , which provides a range of banking services to its retail and commercial customers. It has a 20.83 P/E ratio. The Firm operates through four divisions: the Banking Division, the Retail Mortgage Division, the Warehouse Lending Division and the SBA Division.

Hennessy Advisors Inc decreased Independent Bank Corp Mass (INDB) stake by 25.76% reported in 2016Q4 SEC filing. Hennessy Advisors Inc sold 42,500 shares as Independent Bank Corp Mass (INDB)’s stock declined 4.08%. The Hennessy Advisors Inc holds 122,500 shares with $8.63 million value, down from 165,000 last quarter. Independent Bank Corp Mass now has $1.77B valuation. The stock increased 0.08% or $0.05 during the last trading session, reaching $65.85. About shares traded. Independent Bank Corp (NASDAQ:INDB) has risen 30.83% since June 20, 2016 and is uptrending. It has outperformed by 14.13% the S&P500.

Among 6 analysts covering Independent Bank (NASDAQ:INDB), 0 have Buy rating, 1 Sell and 5 Hold. Therefore 0 are positive. Independent Bank had 12 analyst reports since July 20, 2015 according to SRatingsIntel. The stock of Independent Bank Corp (NASDAQ:INDB) has “Neutral” rating given on Wednesday, March 29 by Compass Point. Compass Point upgraded the stock to “Buy” rating in Friday, January 22 report. The stock of Independent Bank Corp (NASDAQ:INDB) earned “Sell” rating by Compass Point on Tuesday, September 20. The stock of Independent Bank Corp (NASDAQ:INDB) has “Neutral” rating given on Friday, October 16 by Compass Point. The stock has “Sell” rating by Sandler O’Neill on Wednesday, August 31. As per Thursday, August 20, the company rating was upgraded by Zacks. The stock has “Buy” rating by Zacks on Wednesday, August 26.

Since January 25, 2017, it had 0 buys, and 7 sales for $1.12 million activity. RIBEIRO CARL sold $62,240 worth of Independent Bank Corp (NASDAQ:INDB) on Thursday, May 25. $60,100 worth of stock was sold by MISKELL EILEEN C on Thursday, June 1. 4,275 shares were sold by SULLIVAN MAURICE H JR, worth $276,367. ODDLEIFSON CHRISTOPHER sold 2,000 shares worth $127,457. 6,103 shares were sold by Nadeau Gerard F, worth $388,811. $126,400 worth of Independent Bank Corp (NASDAQ:INDB) shares were sold by SEKSAY EDWARD H.

Analysts await Independent Bank Corp (NASDAQ:INDB) to report earnings on July, 20. They expect $0.88 EPS, up 12.82% or $0.10 from last year’s $0.78 per share. INDB’s profit will be $23.65M for 18.71 P/E if the $0.88 EPS becomes a reality. After $0.78 actual EPS reported by Independent Bank Corp for the previous quarter, Wall Street now forecasts 12.82% EPS growth.

Hennessy Advisors Inc increased First Bancorp P R (NYSE:FBP) stake by 255,000 shares to 980,000 valued at $6.48M in 2016Q4. It also upped National Grid Plc (NYSE:NGG) stake by 156,000 shares and now owns 1.22 million shares. Cisco Sys Inc (NASDAQ:CSCO) was raised too.

Investors sentiment decreased to 1.52 in Q4 2016. Its down 0.10, from 1.62 in 2016Q3. It dived, as 7 investors sold INDB shares while 47 reduced holdings. 29 funds opened positions while 53 raised stakes. 20.24 million shares or 0.39% less from 20.32 million shares in 2016Q3 were reported. Profund Llc holds 5,962 shares. Credit Suisse Ag has invested 0% in Independent Bank Corp (NASDAQ:INDB). Rockland Trust has 518,788 shares for 3.23% of their portfolio. New England Research owns 1.07% invested in Independent Bank Corp (NASDAQ:INDB) for 19,365 shares. Deutsche National Bank & Trust Ag invested 0% of its portfolio in Independent Bank Corp (NASDAQ:INDB). New England Private Wealth Ltd owns 3,163 shares. Commonwealth Equity Svcs reported 12,104 shares stake. Ballentine Partners Limited Com reported 0.03% of its portfolio in Independent Bank Corp (NASDAQ:INDB). New York State Teachers Retirement Sys invested in 0.01% or 35,029 shares. Ls Limited Liability Company, a Michigan-based fund reported 1,005 shares. Winslow Evans & Crocker Inc has 1,250 shares for 0% of their portfolio. Prudential Public Ltd Company stated it has 278,400 shares or 0.07% of all its holdings. Us Bancorp De accumulated 0% or 1,762 shares. Manufacturers Life Ins Company The invested in 648,295 shares. Amer Gp has invested 0.01% in Independent Bank Corp (NASDAQ:INDB).

Since January 1, 0001, it had 3 insider purchases, and 5 sales for $3.44 million activity.

Castine Capital Management Llc holds 3.9% of its portfolio in Ameris Bancorp for 214,372 shares. Jacobs Asset Management Llc owns 421,100 shares or 3.89% of their US portfolio. Moreover, Polaris Capital Management Llc has 2.79% invested in the company for 989,343 shares. The Wisconsin-based 1492 Capital Management Llc has invested 2.11% in the stock. Mendon Capital Advisors Corp, a New York-based fund reported 400,000 shares.

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