Independent Bank Corp. (NASDAQ: INDB) is -3.80% lower on its value in year-to-date trading and has touched a low of $44.63 and a high of $68.75 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The INDB stock was last observed hovering at around $63.15 in the last trading session, with the day’s gains setting it 0.16%.
Currently trading at $63.31, the stock is 5.95% and 12.06% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 0.18 million and changing 0.25% at the moment leaves the stock 14.91% off its SMA200. INDB registered 17.31% gain for a year compared to 6-month gain of 24.26%.
3 Tiny Stocks Primed to Explode
The world's greatest investor — Warren Buffett — has a simple formula for making big money in the markets. He buys up valuable assets when they are very cheap. For stock market investors that means buying up cheap small cap stocks like these with huge upside potential.
We've set up an alert service to help smart investors take full advantage of the small cap stocks primed for big returns.
Click here for full details and to join for free
Sponsored
The stock witnessed a 2.49% loss in the last 1 month and extending the period to 3 months gives it a 24.65%, and is 0.51% 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 1.94% over the week and 2.82% over the month.
Independent Bank Corp. (INDB) has around 1787 employees, a market worth around $2.68B and $955.99M in sales. Current P/E ratio is 12.74 and Fwd P/E is 12.17. Profit margin for the company is 22.46%. Distance from 52-week low is 41.86% and -7.91% from its 52-week high. The company has generated returns on investments over the last 12 months (5.94%).
The EPS is expected to shrink by -12.22% this year.
Independent Bank Corp. (INDB) Top Institutional Holders
362.0 institutions hold shares in Independent Bank Corp. (INDB), with institutional investors hold 84.69% of the company’s shares. The shares outstanding are 42.87M, and float is at 41.92M with Short Float at 1.97%. Institutions hold 83.71% of the Float.
The top institutional shareholder in the company is BLACKROCK INC. with over 6.07 million shares valued at $307.78 million. The investor’s holdings represent 14.2603% of the INDB Shares outstanding. As of 2024-06-30, the second largest holder is VANGUARD GROUP INC with 5.06 million shares valued at $$256.63 million to account for 11.8904 of the shares outstanding. The other top investors are STATE STREET CORP which holds 2.36 million shares representing 5.554% and valued at over $119.87 million, while DIMENSIONAL FUND ADVISORS LP holds 5.071 of the shares totaling 2.16 million with a market value of $109.44 million.
Independent Bank Corp. (INDB) Insider Activity
The most recent transaction is an insider sale by MISKELL EILEEN C,the company’sDirector. SEC filings show that MISKELL EILEEN C sold 1,134 shares of the company’s common stock on Jun 03 ’24 at a price of $50.22 per share for a total of $56946.0. Following the sale, the insider now owns 13206.0 shares.
Independent Bank Corp. disclosed in a document filed with the SEC on Mar 01 ’24 that Ruggiero Mark J (CFO & EVP Consumer Lending) bought a total of 500 shares of the company’s common stock. The trade occurred on Mar 01 ’24 and was made at $51.09 per share for $25543.0. Following the transaction, the insider now directly holds 16032.0 shares of the INDB stock.
Still, SEC filings show that on Feb 29 ’24, Abelli Donna L (Director) disposed off 800 shares at an average price of $52.83 for $42264.0. The insider now directly holds 11,640 shares of Independent Bank Corp. (INDB).
