Independent Bank Corp. (NASDAQ: INDB) on Friday, plunged -5.41% from the previous trading day, before settling in for the closing price of $65.09. Within the past 52 weeks, INDB’s price has moved between $44.63 and $68.75.
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A company in the Financial sector has jumped its sales by 18.95% annually for the last half of the decade. The company achieved an average annual earnings per share of -17.07%. With a float of $41.96 million, this company’s outstanding shares have now reached $42.87 million.
In an organization with 1787 employees, it is important to assess its efficiency. In terms of profitability, gross margin is 92.49%, operating margin of 8.41%, and the pretax margin is 30.24%.
Independent Bank Corp. (INDB) Insider and Institutional Ownership
Observing investor behavior towards Banks – Regional industry stocks is more important than anything else. The insider ownership of Independent Bank Corp. is 1.06%, while institutional ownership is 82.06%. The most recent insider transaction that took place on Jun 03 ’24, was worth 56,946. In this transaction Director of this company sold 1,134 shares at a rate of $50.22, taking the stock ownership to the 13,206 shares. Before that another transaction happened on Mar 01 ’24, when Company’s CFO & EVP Consumer Lending bought 500 for $51.09, making the entire transaction worth $25,543. This insider now owns 16,032 shares in total.
Independent Bank Corp. (INDB) Latest Financial update
As on 9/30/2024, Multinational firm has announced its last quarter scores, in which it reported 1.26 earnings per share (EPS) for the period topping the consensus outlook (set at 1.24) by 0.02. Wall Street market experts anticipate that the next fiscal year will bring earnings of 1.16 per share during the current fiscal year.
According to the Wall Street analysts, stocks earnings will be around -17.07% per share during the next fiscal year. For the long-term projections, market analysts anticipate that the company’s EPS will surge by 2.50% during the next five years compared to 4.27% growth over the previous five years of trading.
Independent Bank Corp. (NASDAQ: INDB) Trading Performance Indicators
Independent Bank Corp. (INDB) is currently performing well based on its current performance indicators. In addition, a publicly-traded company’s price to sales ratio for the trailing twelve months stands at 2.70. Likewise, its price to free cash flow for the trailing twelve months is 11.15.
For the trailing twelve months, Company’s Diluted EPS (Earnings per Share) is 4.60, a number that is poised to hit 1.16 in the next quarter and is forecasted to reach 5.11 in one year’s time.
Technical Analysis of Independent Bank Corp. (INDB)
Let’s dig in a bit further. During the last 5-days, its volume was 0.39 million. That was better than the volume of 0.28 million it reported in year-ago period. As of the previous 9 days, the stock’s Stochastic %D was 82.40%. Additionally, its Average True Range was 1.89.
During the past 100 days, Independent Bank Corp.’s (INDB) raw stochastic average was set at 79.59%, which indicates a significant increase from 57.79% during the past two weeks. Based on volatility metrics of the stock, it showed a historical volatility of 38.06% in the past 14 days, which was higher than the 35.29% volatility it showed in the past 100 days.
At the time of writing, stock’s 50-day Moving Average is $60.16, while its 200-day Moving Average is $54.97. However, in the short run, Independent Bank Corp.’s stock first resistance to watch stands at $63.33. Second resistance stands at $65.08. The third major resistance level sits at $66.29. If the price goes on to break the first support level at $60.37, it is likely to go to the next support level at $59.16. The third support level lies at $57.41 if the price breaches the second support level.
Independent Bank Corp. (NASDAQ: INDB) Key Stats
Market capitalization of the company is 2.61 billion based on 42,466K outstanding shares. Right now, sales total 920,340 K and income totals 239,500 K. The company made 244,190 K in profit during its latest quarter, and 51,330 K in sales during its previous quarter.
