Independent Bank Corp (NASDAQ: INDB) is 10.91% higher on its value in year-to-date trading and has touched a low of $45.11 and a high of $77.23 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 $73.36 in the last trading session, with the day’s loss setting it -0.37%.
Currently trading at $72.99, the stock is 3.41% and 13.05% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 0.12 million and changing -0.50% at the moment leaves the stock 29.65% off its SMA200. INDB registered 31.49% gain for a year compared to 6-month gain of 44.74%. The firm has a 50-day simple moving average (SMA 50) of $64.347 and a 200-day simple moving average (SMA200) of $56.18995.
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The stock witnessed a 15.55% loss in the last 1 month and extending the period to 3 months gives it a 15.58%, and is 3.08% 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 2.70% over the week and 3.16% over the month.
Independent Bank Corp (INDB) has around 1787 employees, a market worth around $3.10B and $968.53M in sales. Current P/E ratio is 15.86 and Fwd P/E is 14.11. Profit margin for the company is 20.32%. Distance from 52-week low is 61.80% and -5.49% from its 52-week high. The company has generated returns on investments over the last 12 months (5.41%).
The EPS is expected to shrink by -16.97% this year
384.0 institutions hold shares in Independent Bank Corp (INDB), with institutional investors hold 83.79% of the company’s shares. The shares outstanding are 42.87M, and float is at 41.97M with Short Float at 1.93%. Institutions hold 82.82% 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’s Director. 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).
