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Independent Bank Corp. (INDB) up 1.05% since start of the year

Independent Bank Corp. (NASDAQ: INDB) is 1.05% higher on its value in year-to-date trading and has touched a low of $68.14 and a high of $93.52 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The INDB stock was last observed hovering at around $81.03 in the last trading session, with the day’s gains setting it 1.36% off its average median price target of $105.00 for the next 12 months. It is also 22.27% off the consensus price target high of $106.00 offered by analysts, but current levels are 3.07% higher than the price target low of $85.00 for the same period.

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Currently trading at $82.39, the stock is 3.14% and 3.03% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 0.21 million and changing 1.68% at the moment leaves the stock 0.25% off its SMA200. INDB registered 17.52% gain for a year compared to 6-month loss of -3.02%.

The stock witnessed a 4.57% gain in the last 1 month and extending the period to 3 months gives it a 3.14%, and is 4.73% up 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 2.21% over the week and 2.02% over the month.

Independent Bank Corp. (INDB) has around 1691 employees, a market worth around $3.76B and $456.30M in sales. Current P/E ratio is 23.48 and Fwd P/E is 14.08. Profit margin for the company is 29.00%. Distance from 52-week low is 20.91% and -11.90% from its 52-week high. The company has generated returns on investments over the last 12 months (11.10%).

Independent Bank Corp. is expected to release its quarterly report on 10/20/2022.The EPS is expected to shrink by -0.80% this year.

Independent Bank Corp. (INDB) Top Institutional Holders

The shares outstanding are 47.37M, and float is at 46.31M with Short Float at 2.07%.

Independent Bank Corp. (INDB) Insider Activity

A total of 80 insider transactions have happened at Independent Bank Corp. (INDB) in the last six months, with sales accounting for 50 and purchases happening 30 times. The most recent transaction is an insider sale by ODDLEIFSON CHRISTOPHER,the company’sCEO. SEC filings show that ODDLEIFSON CHRISTOPHER sold 3,000 shares of the company’s common stock on Jun 09 at a price of $80.86 per share for a total of $0.24 million. Following the sale, the insider now owns 99917.0 shares.

Independent Bank Corp. disclosed in a document filed with the SEC on Jun 09 that MISKELL EILEEN C (Director) sold a total of 1,123 shares of the company’s common stock. The trade occurred on Jun 09 and was made at $81.04 per share for $91012.0. Following the transaction, the insider now directly holds 13435.0 shares of the INDB stock.

Still, SEC filings show that on Mar 15, Nadeau Gerard F (President) disposed off 1,500 shares at an average price of $84.94 for $0.13 million. The insider now directly holds 24,302 shares of Independent Bank Corp. (INDB).

Independent Bank Corp. (INDB): Who are the competitors?

The company’s main competitors (and peers) include Bar Harbor Bankshares (BHB) that is trading 2.18% up over the past 12 months and Washington Trust Bancorp Inc. (WASH) that is -1.01% lower over the same period. Union Bankshares Inc. (UNB) is -22.44% down on the 1-year trading charts.

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