Independent Bank Corp (NASDAQ: INDB) on Friday, soared 4.88% from the previous trading day, before settling in for the closing price of $63.92. Within the past 52 weeks, INDB’s price has moved between $45.11 and $77.23.
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A company in the Financial sector has jumped its sales by 13.32% annually for the last half of the decade. The company achieved an average annual earnings per share of 12.31%. With a float of $41.97 million, this company’s outstanding shares have now reached $42.50 million.
In an organization with 1787 employees, it is important to assess its efficiency. In terms of profitability, gross margin is 93.24%, operating margin of 27.98%, and the pretax margin is 27.22%.
Independent Bank Corp (INDB) Insider Updates
Observing investor behavior towards Banks – Regional industry stocks is more important than anything else. The insider ownership of Independent Bank Corp is 1.05%, while institutional ownership is 81.70%. 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) Performance Highlights and Predictions
According to the Wall Street analysts, stocks earnings will be around 12.31% per share during the next fiscal year.
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 2.91. Likewise, its price to free cash flow for the trailing twelve months is 12.92.
For the trailing twelve months, Company’s Diluted EPS (Earnings per Share) is 4.52, a number that is poised to hit 1.16 in the next quarter and is forecasted to reach 6.92 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 0.28 million. That was better than the volume of 0.25 million it reported in year-ago period. As of the previous 9 days, the stock’s Stochastic %D was 76.63%. Additionally, its Average True Range was 2.12.
During the past 100 days, Independent Bank Corp’s (INDB) raw stochastic average was set at 51.48%, which indicates a significant decrease from 87.03% during the past two weeks. Based on volatility metrics of the stock, it showed a historical volatility of 34.70% in the past 14 days, which was lower than the 36.14% volatility it showed in the past 100 days.
At the time of writing, stock’s 50-day Moving Average is $68.76, while its 200-day Moving Average is $58.88. However, in the short run, Independent Bank Corp’s stock first resistance to watch stands at $68.61. Second resistance stands at $70.17. The third major resistance level sits at $72.18. If the price goes on to break the first support level at $65.04, it is likely to go to the next support level at $63.03. Assuming the price breaks the second support level, the third support level stands at $61.47.
Independent Bank Corp (NASDAQ: INDB) Key Stats
Market capitalization of the company is 2.84 billion based on 42,493K outstanding shares. Right now, sales total 920,340 K and income totals 239,500 K. The company made 250,070 K in profit during its latest quarter, and 42,950 K in sales during its previous quarter.
