Alert: Positive Fundamental Signals (4/30/21)-Independent Bank Corp (NASDAQ: IBCP)


Independent Bank Corp (NASDAQ: IBCP) has benefited from exceptional positive changes in fundamentals: the consensus estimate for December, 2021 increased significantly, significant quarterly sales acceleration occurred, the consensus estimate for December, 2022 increased significantly, and significant quarterly earnings acceleration occurred.

In light of these very positive signals we are reviewing our current Overall Rating of C. We would view the shares with optimism pending completion of this review in the next several days.


Current PriceTarget Research Rating

IBCP is expected to be Value Creation neutral reflecting capital returns that are forecasted to be in line with the cost of capital.

Independent Bank has a current Value Trend Rating of C (High Neutral). This rating combines contradictory signals from two proprietary PTR measures of a stock’s attractiveness. Independent Bank has a slightly negative Appreciation Score of 39 but a good Power Rating of 78, resulting in the High Neutral Value Trend Rating.

Recent Price Action

On 4/30/21, Independent Bank Corp (NASDAQ: IBCP) stock rose modestly by 0.3%, closing at $23.56. Moreover, trading volume in this advance was unusually high at 186% of normal. Relative to the market the stock has been strong over the last nine months and has risen 4.6% during the last week.

About John Lafferty 97001 Articles
During his career, John has developed valuation and stock rating methodologies, managed institutional portfolios and mutual funds, and provided equity research to institutional investors on thousands of companies. He has been Director of Research at PTR since its inception in 2004.

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