Barclays initiated coverage of Independent Bank (INDB) with an Equal Weight rating and $80 price target Independent has better tailwinds from fixed rate asset repricing than most banks, but its elevated commercial real estate concentration and merger integration could be a headwind for loan growth in the near term, the analyst tells investors in a research note.
Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on INDB:
- Independent Bank Highlights Acquisition Benefits to Investors
- Independent Bank Announces Quarterly Dividend Declaration
- Independent Bank management to meet virtually with Seaport Research
- Independent Bank Expands with Enterprise Bancorp Acquisition
- Independent Bank upgraded to Outperform from Market Perform at Keefe Bruyette