Extremely significant positive changes in Independent Bank Corp. (NASDAQ: INDB) investment behavior have recently occurred: positive upside/downside volume developed, and the stock’s recent price rise disrupted its longer term downtrend.
Recent significant positive changes in fundamentals have benefitted Independent Bank Corp. (NASDAQ: INDB): the stock’s power rating rose above 70, and significant quarterly sales acceleration occurred.
In light of these very positive signals we are reviewing our current Overall Rating of B. We would continue to view the shares with optimism pending completion of this review in the next several days.
Current PriceTarget Research Rating
With future capital returns forecasted to be above the cost of capital, INDB is expected to continue to be a modest Value Builder.
Independent Bank has a current Value Trend Rating of B (Positive). The Value Trend Rating reflects highly consistent signals from PTR’s two proprietary measures of a stock’s attractiveness. Independent Bank has a good Power Rating of 73 and a good Appreciation Score of 73, with the Positive Value Trend Rating the result.
Recent Price Action
On 1/3/24, Independent Bank Corp. (NASDAQ: INDB) stock declined by -4.0%, closing at $62.64. However, below average trading volume at 81% of normal accompanied the decline. The stock has declined -5.0% during the last week but has been strong relative to the market over the last nine months.
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