Independent Bank Corp. (NASDAQ: INDB) is -22.53% lower on its value in year-to-date trading and has touched a low of $50.45 and a high of $87.11 in the current 52-week trading range. The INDB stock was last observed hovering at around $61.52 in the last trading session, with the day’s gains setting it 2.97% off its average median price target of $75.50 for the next 12 months. It is also 24.13% off the consensus price target high of $85.00 offered by 5 analysts, but current levels are 3.75% higher than the price target low of $67.00 for the same period.
Currently trading at $64.49, the stock is -5.98% and -4.19% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 0.16 million and changing 4.83% at the moment leaves the stock -12.46% off its SMA200. INDB registered -15.31% loss for a year compared to 6-month loss of -23.02%. The firm has a 50-day simple moving average (SMA 50) of $66.69 and a 200-day simple moving average (SMA200) of $70.86.
The stock witnessed a -7.17% gain in the last 1 month and extending the period to 3 months gives it a -0.31%, and is -4.77% down over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 4.22% over the week and 4.63% over the month.
Independent Bank Corp. (INDB) has around 1348 employees, a market worth around $2.23B and $462.90M in sales. Current P/E ratio is 14.15 and Fwd P/E is 17.33. Profit margin for the company is 33.90%. Distance from 52-week low is 27.83% and -25.97% from its 52-week high. The company has generated returns on investments over the last 12 months (17.60%).
Independent Bank Corp. (INDB) Analyst Forecasts
Analyst recommendations provided by FactSet shows that the consensus forecast for Independent Bank Corp. (INDB) is a “Hold”. 5 analysts offering their recommendations for the stock have an average rating of 2.60, where 4 rate it as a Hold and 0 think it is a “Overweight”. 1 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.
Independent Bank Corp. is expected to release its quarterly report on 07/16/2020 and quarterly earnings per share for the current quarter are estimated at $0.64 with sales reaching $122.67M over the same period.The EPS is expected to grow by 14.30% this year, but quarterly earnings will post -2.70% year-over-year. Quarterly sales are estimated to shrink -5.20% in year-over-year returns.
Independent Bank Corp. (INDB) Top Institutional Holders
292 institutions hold shares in Independent Bank Corp. (INDB), with 611.92k shares held by insiders accounting for 1.86% while institutional investors hold 86.48% of the company’s shares. The shares outstanding are 34.18M, and float is at 32.31M with Short Float at 3.74%. Institutions hold 84.88% of the Float.
The top institutional shareholder in the company is Blackrock Inc. with over 4.95 million shares valued at $318.35 million. The investor’s holdings represent 15.02% of the INDB Shares outstanding. As of Mar 30, 2020, the second largest holder is Vanguard Group, Inc. (The) with 3.67 million shares valued at $236.02 million to account for 11.13% of the shares outstanding. The other top investors are Silvercrest Asset Management Group LLC which holds 1.55 million shares representing 4.71% and valued at over $99.88 million, while Victory Capital Management Inc. holds 4.39% of the shares totaling 1.45 million with a market value of $93.08 million.
Independent Bank Corp. (INDB) Insider Activity
A total of 73 insider transactions have happened at Independent Bank Corp. (INDB) in the last six months, with sales accounting for 47 and purchases happening 26 times. The most recent transaction is an insider sale by Abelli Donna L, the company’s Director. SEC filings show that Abelli Donna L sold 780 shares of the company’s common stock on May 27 at a price of $72.00 per share for a total of $56160.0. Following the sale, the insider now owns 9763.0 shares.
Independent Bank Corp. disclosed in a document filed with the SEC on Apr 28 that Cozzone Robert D (Chief Operating Officer) sold a total of 3,500 shares of the company’s common stock. The trade occurred on Apr 28 and was made at $72.02 per share for $0.25 million. Following the transaction, the insider now directly holds 23009.0 shares of the INDB stock.
Still, SEC filings show that on Feb 13, ODDLEIFSON CHRISTOPHER (CEO) disposed off 1,200 shares at an average price of $76.29 for $91551.0. The insider now directly holds 0 shares of Independent Bank Corp. (INDB).
Independent Bank Corp. (INDB): Who are the competitors?
The company’s main competitors (and peers) include Boston Private Financial Holdings Inc. (BPFH) that is trading -44.70% down over the past 12 months. Washington Trust Bancorp Inc. (WASH) is -37.72% down on the 1-year trading charts. Short interest in the company’s stock has fallen -2.48% from the last report on May 14, 2020 to stand at a total of 1.24 million short shares sold with a short interest ratio of 6.92.