Independent Bank Corp [INDB] stock prices are up 4.88% to $67.04 at the moment. It is a good measure of the stock’s recent performance to check whether the stock’s short-term value is rising or falling. The INDB shares have gain 11.16% over the last week, with a monthly amount drifted -6.47%, and not seem to be holding up well over a long-time horizon.
From an analyst’s perspective:
Independent Bank Corp [NASDAQ: INDB] stock has seen the most recent analyst activity on October 21, 2024, when Raymond James upgraded its rating to a Strong Buy but kept the price target unchanged to $74 for it. Previously, Seaport Research Partners upgraded its rating to Buy on July 22, 2024, and kept the price target unchanged to $65. On October 23, 2023, upgrade upgraded it’s rating to Neutral. Seaport Research Partners started tracking the stock assigning a Sell rating and suggested a price target of $45 on September 12, 2023. Raymond James initiated its recommendation with a Mkt Perform. Keefe Bruyette downgraded its rating to Mkt Perform for this stock on December 13, 2022, but kept the price target unchanged to $100. In a note dated October 25, 2021, Piper Sandler downgraded an Neutral rating on this stock and boosted its target price from $82 to $88.
The stock price of Independent Bank Corp [INDB] has been fluctuating between $45.11 and $77.23 over the past year. Currently, Wall Street analysts expect the stock to reach $69.5 within the next 12 months. Independent Bank Corp [NASDAQ: INDB] shares were valued at $67.04 at the most recent close of the market. An investor can expect a potential return of 3.67% based on the average INDB price forecast.
Analyzing the INDB fundamentals
The Independent Bank Corp [NASDAQ:INDB] reported sales of 978.25M for trailing twelve months, representing a surge of 4.08%. Gross Profit Margin for this corporation currently stands at 0.93% with Operating Profit Margin at 0.28%, Pretax Profit Margin comes in at 0.27%, and Net Profit Margin reading is 0.21%. To continue investigating profitability, this company’s Return on Assets is posted at 0.01, Equity is 0.07 and Total Capital is 0.02. An extended analysis of the company’s primary financial structure reveals a debt-to-equity ratio of0.22.
Before buying any particular stock, readers tend to pay close attention to the indicators that support and create resistance. The company’s stock is currently sitting at 65.04 points at the first support level, and at 63.03 for the second support level. However, for the 1st resistance point, the stock is sitting at 68.61, and for the 2nd resistance point, it is at 70.17.
Ratios To Look Out For
It’s worth pointing out that Independent Bank Corp [NASDAQ:INDB]’s Current Ratio is 0.03. Considering the valuation of this stock, the price to sales ratio is 2.91, the price to book ratio is 0.95 and price to earnings (TTM) ratio is 14.84.
Transactions by insiders
Recent insider trading involved MISKELL EILEEN C, Director, that happened on Jun 03 ’24 when 1134.0 shares were sold. CFO & EVP Consumer Lending, Ruggiero Mark J completed a deal on Mar 01 ’24 to buy 500.0 shares. Meanwhile, Director Abelli Donna L sold 800.0 shares on Feb 29 ’24.
