Independent Bank Corp. (INDB) Reaches $71.55 Formed H&S; Conduent (CNDT) Shorts Increased By 23.35%

Independent Bank Corp. (INDB) formed H&S with $69.40 target or 3.00% below today’s $71.55 share price. Independent Bank Corp. (INDB) has $1.96 billion valuation. The stock decreased 1.15% or $0.83 during the last trading session, reaching $71.55. About 35,109 shares traded. Independent Bank Corp. (NASDAQ:INDB) has risen 30.83% since December 25, 2016 and is uptrending. It has outperformed by 14.13% the S&P500.

Conduent Incorporated (NYSE:CNDT) had an increase of 23.35% in short interest. CNDT’s SI was 9.47M shares in December as released by FINRA. Its up 23.35% from 7.68M shares previously. With 1.82 million avg volume, 5 days are for Conduent Incorporated (NYSE:CNDT)’s short sellers to cover CNDT’s short positions. The SI to Conduent Incorporated’s float is 4.99%. The stock increased 0.13% or $0.02 during the last trading session, reaching $16.02. About 2.21M shares traded. Conduent Incorporated (NYSE:CNDT) has 0.00% since December 25, 2016 and is . It has underperformed by 16.70% the S&P500.

Analysts await Independent Bank Corp. (NASDAQ:INDB) to report earnings on January, 18. They expect $0.92 EPS, up 21.05% or $0.16 from last year’s $0.76 per share. INDB’s profit will be $25.25 million for 19.44 P/E if the $0.92 EPS becomes a reality. After $0.87 actual EPS reported by Independent Bank Corp. for the previous quarter, Wall Street now forecasts 5.75% EPS growth.

Since October 25, 2017, it had 0 buys, and 2 sales for $134,001 activity. RIBEIRO CARL also sold $48,475 worth of Independent Bank Corp. (NASDAQ:INDB) shares. 1,200 Independent Bank Corp. (NASDAQ:INDB) shares with value of $85,526 were sold by MISKELL EILEEN C.

Investors sentiment decreased to 1.17 in Q3 2017. Its down 0.46, from 1.63 in 2017Q2. It worsened, as 9 investors sold Independent Bank Corp. shares while 43 reduced holdings. 15 funds opened positions while 46 raised stakes. 21.80 million shares or 4.23% more from 20.92 million shares in 2017Q2 were reported. Endurance Wealth holds 127,408 shares. Principal Financial Group Incorporated Inc reported 221,035 shares stake. Citadel Advisors Lc owns 20,131 shares for 0% of their portfolio. State Board Of Administration Of Florida Retirement Systems holds 0% in Independent Bank Corp. (NASDAQ:INDB) or 16,106 shares. Parkside Finance Bank & Tru reported 0% in Independent Bank Corp. (NASDAQ:INDB). Delta Asset Mgmt Ltd Liability Corp Tn owns 0.01% invested in Independent Bank Corp. (NASDAQ:INDB) for 690 shares. Cambridge Tru holds 0.09% or 17,240 shares in its portfolio. Aperio Group Inc Ltd Limited Liability Company stated it has 9,928 shares or 0% of all its holdings. Hancock holds 14,000 shares or 0.04% of its portfolio. Walthausen And Lc has 86,948 shares for 0.61% of their portfolio. Fiduciary owns 0.01% invested in Independent Bank Corp. (NASDAQ:INDB) for 4,867 shares. Emerald Mutual Fund Advisers Trust, Pennsylvania-based fund reported 15,250 shares. Wealth Architects Limited Liability invested in 0.09% or 3,500 shares. Boston Advsrs Lc reported 0.01% of its portfolio in Independent Bank Corp. (NASDAQ:INDB). New York State Teachers Retirement Systems holds 0.01% or 35,029 shares in its portfolio.

Among 8 analysts covering Independent Bank (NASDAQ:INDB), 1 have Buy rating, 1 Sell and 6 Hold. Therefore 13% are positive. Independent Bank had 22 analyst reports since July 20, 2015 according to SRatingsIntel. The company was downgraded on Wednesday, October 11 by Compass Point. Piper Jaffray maintained Independent Bank Corp. (NASDAQ:INDB) on Thursday, October 19 with “Hold” rating. The stock of Independent Bank Corp. (NASDAQ:INDB) earned “Neutral” rating by Compass Point on Wednesday, March 29. The rating was maintained by Keefe Bruyette & Woods on Friday, October 20 with “Hold”. The stock of Independent Bank Corp. (NASDAQ:INDB) has “Buy” rating given on Wednesday, August 26 by Zacks. On Monday, December 18 the stock rating was upgraded by Compass Point to “Buy”. Keefe Bruyette & Woods maintained Independent Bank Corp. (NASDAQ:INDB) on Sunday, July 23 with “Hold” rating. Keefe Bruyette & Woods maintained Independent Bank Corp. (NASDAQ:INDB) rating on Tuesday, October 3. Keefe Bruyette & Woods has “Hold” rating and $73.0 target. On Monday, June 26 the stock rating was maintained by Keefe Bruyette & Woods with “Hold”. As per Thursday, August 20, the company rating was upgraded by Zacks.

Among 5 analysts covering Conduent (NYSE:CNDT), 1 have Buy rating, 0 Sell and 4 Hold. Therefore 20% are positive. Conduent had 8 analyst reports since January 12, 2017 according to SRatingsIntel. Morgan Stanley initiated the shares of CNDT in report on Thursday, January 12 with “Equal-Weight” rating. Citigroup initiated Conduent Incorporated (NYSE:CNDT) on Thursday, January 26 with “Buy” rating. The firm has “Buy” rating by Citigroup given on Friday, June 9. The stock of Conduent Incorporated (NYSE:CNDT) earned “Hold” rating by Needham on Thursday, September 14. BMO Capital Markets maintained the shares of CNDT in report on Wednesday, August 9 with “Hold” rating. On Wednesday, October 4 the stock rating was maintained by Cowen & Co with “Hold”. As per Friday, July 28, the company rating was maintained by Cowen & Co. The stock of Conduent Incorporated (NYSE:CNDT) has “Hold” rating given on Thursday, August 3 by BMO Capital Markets.