Currently, there are 42.50M common shares owned by the public and among those 41.97M shares have been available to trade.
The company’s stock has a 5-day price change of 11.16% and 4.36% over the past three months. INDB shares are trading 4.44% year to date (YTD), with the 12-month market performance up to 10.61% higher. It has a 12-month low price of $45.11 and touched a high of $77.23 over the same period. INDB has an average intraday trading volume of 276.48K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 4.33%, -2.50%, and 13.85% respectively.
Institutional ownership of Independent Bank Corp (NASDAQ: INDB) shares accounts for 81.70% of the company’s 42.50M shares outstanding.
It has a market capitalization of $2.84B and a beta (3y monthly) value of 0.79. The stock’s trailing 12-month PE ratio is 14.84, while the earnings-per-share (ttm) stands at $4.52. The company has a debt-to-equity ratio at 0.23. Price movements for the stock have been influenced by the stock’s volatility, which stands at 3.58% over the week and 3.20% over the month.
Analysts forecast that Independent Bank Corp (INDB) will achieve an EPS of 1.18 for the current quarter, 1.28 for the next quarter and 7.17 for current fiscal year. The lowest estimate earnings-per-share for the quarter is 1.15 while analysts give the company a high EPS estimate of 1.15. Comparatively, EPS for the current quarter was 1.12 a year ago. Earnings per share for the fiscal year are expected to increase by 12.31%, and 35.37% over the next financial year.
Looking at the support for the INDB, a number of firms have released research notes about the stock. Raymond James stated their Strong Buy rating for the stock in a research note on October 21, 2024, with the firm’s price target at $74. Seaport Research Partners coverage for the Independent Bank Corp (INDB) stock in a research note released on July 22, 2024 offered a Buy rating with a price target of $65. Seaport Research Partners was of a view on October 23, 2023 that the stock is Neutral, while Seaport Research Partners gave the stock Sell rating on September 12, 2023, issuing a price target of $45. Raymond James on their part issued Mkt Perform rating on December 21, 2022.
