Independent Bank price target lowered to $48 from $50 at Truist

Truist lowered the firm’s price target on Independent Bank to $48 from $50 and keeps a Hold rating on the shares as part of a broader research note previewing Q2 results and second half outlooks for Community Banks. The quarter is expected to be “generally uneventful” with stability in net interest income and net interest margins for most banks, along with further deterioration in credit quality trends, though management teams have also signaled improving net interest margins and loan growth with sensitivity to the path of interest rates, the analyst tells investors in a research note.