SYNNEX (SNX) Forms $126.19 Double Bottom; Independent Bank (INDB) Has 1.21 Sentiment

March 19, 2018 - By Annabelle Johnson

Independent Bank Corp. operates as the bank holding firm for Rockland Trust Company that provides commercial banking services and products to individuals and small-to-medium sized businesses primarily in Massachusetts. The company has market cap of $2.08 billion. The companyÂ’s services and products include demand deposits and time certificates of deposit, as well as checking, money market, and savings accounts. It has a 23.68 P/E ratio. The Company’s loan portfolio includes commercial loans, such as commercial and industrial, asset-based, commercial real estate, commercial construction, and small business loans; consumer real estate loans, including residential mortgages, home equity loans, and loans for the construction of residential properties; and other consumer loans, such as personal loans.

SYNNEX Corporation (SNX) formed double bottom with $119.88 target or 5.00% below today’s $126.19 share price. SYNNEX Corporation (SNX) has $5.06 billion valuation. The stock increased 2.06% or $2.55 during the last trading session, reaching $126.19. About 346,155 shares traded or 29.19% up from the average. SYNNEX Corporation (NYSE:SNX) has risen 29.93% since March 19, 2017 and is uptrending. It has outperformed by 13.23% the S&P500.

Among 11 analysts covering SYNNEX (NYSE:SNX), 6 have Buy rating, 2 Sell and 3 Hold. Therefore 55% are positive. SYNNEX had 30 analyst reports since August 20, 2015 according to SRatingsIntel. As per Wednesday, January 10, the company rating was maintained by Citigroup. Raymond James upgraded the stock to “Strong Buy” rating in Friday, May 19 report. The company was downgraded on Thursday, March 24 by Cross Research. The firm has “Neutral” rating given on Monday, May 2 by Citigroup. Brean Capital maintained it with “Buy” rating and $97 target in Friday, September 25 report. The rating was maintained by Stifel Nicolaus with “Hold” on Tuesday, September 27. The rating was upgraded by Stifel Nicolaus on Wednesday, April 12 to “Buy”. The firm earned “Underperform” rating on Thursday, October 29 by Credit Agricole. The rating was upgraded by Raymond James on Wednesday, May 18 to “Outperform”. The stock of SYNNEX Corporation (NYSE:SNX) earned “Buy” rating by Stifel Nicolaus on Wednesday, June 28.

Analysts await SYNNEX Corporation (NYSE:SNX) to report earnings on March, 26. They expect $2.11 earnings per share, up 15.93% or $0.29 from last year’s $1.82 per share. SNX’s profit will be $84.62 million for 14.95 P/E if the $2.11 EPS becomes a reality. After $2.79 actual earnings per share reported by SYNNEX Corporation for the previous quarter, Wall Street now forecasts -24.37% negative EPS growth.

Investors sentiment decreased to 1 in 2017 Q3. Its down 0.08, from 1.08 in 2017Q2. It dropped, as 16 investors sold SYNNEX Corporation shares while 77 reduced holdings. 30 funds opened positions while 70 raised stakes. 28.38 million shares or 0.39% more from 28.27 million shares in 2017Q2 were reported. State Board Of Administration Of Florida Retirement has 0.01% invested in SYNNEX Corporation (NYSE:SNX) for 15,827 shares. Waddell And Reed Fincl accumulated 196,658 shares. Goldman Sachs Inc invested in 1.23 million shares or 0.04% of the stock. Origin Asset Management Llp has 0.6% invested in SYNNEX Corporation (NYSE:SNX) for 77,668 shares. Shell Asset Management Com stated it has 0.07% in SYNNEX Corporation (NYSE:SNX). Swiss Comml Bank reported 49,900 shares or 0.01% of all its holdings. Envestnet Asset Management has invested 0% in SYNNEX Corporation (NYSE:SNX). Alyeska Invest L P accumulated 304,973 shares or 0.31% of the stock. 5,670 were reported by Thomson Horstmann And Bryant. Bahl & Gaynor Inc holds 23,336 shares or 0.03% of its portfolio. Ameriprise holds 0.01% in SYNNEX Corporation (NYSE:SNX) or 242,865 shares. First Manhattan Co owns 2,200 shares or 0% of their US portfolio. Northwestern Mutual Wealth Mgmt has 0% invested in SYNNEX Corporation (NYSE:SNX). Bessemer Gp holds 22,400 shares or 0.01% of its portfolio. Balyasny Asset Management Ltd Liability Corporation reported 55,988 shares.

Since September 28, 2017, it had 0 insider purchases, and 19 insider sales for $211.76 million activity. The insider Zulberti Andrea M sold 1,500 shares worth $206,865. POLK DENNIS had sold 2,000 shares worth $246,030 on Thursday, March 1. $260,740 worth of SYNNEX Corporation (NYSE:SNX) was sold by MURAI KEVIN M. $1.08M worth of stock was sold by LAROCQUE PETER on Friday, January 19. The insider PEER DEVELOPMENTS LTD sold 349,000 shares worth $45.47 million. On Thursday, March 1 the insider Witt Marshall sold $37,146. Wurster Thomas S. sold 300 shares worth $38,101.

Since January 1, 0001, it had 1 buying transaction, and 4 selling transactions for $208,287 activity.

The stock increased 0.80% or $0.6 during the last trading session, reaching $75.55. About 247,651 shares traded or 249.97% up from the average. Independent Bank Corp. (INDB) has risen 30.83% since March 19, 2017 and is uptrending. It has outperformed by 14.13% the S&P500.

Rockland Trust Co holds 3.66% of its portfolio in Independent Bank Corp. for 565,848 shares. Endurance Wealth Management Inc. owns 127,408 shares or 1.58% of their US portfolio. Moreover, Excalibur Management Corp has 1.52% invested in the company for 23,917 shares. The Illinois-based New England Research & Management Inc. has invested 1.44% in the stock. Silvercrest Asset Management Group Llc, a New York-based fund reported 1.70 million shares.

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