Independent Bank Corp. (NASDAQ: INDB) has reported E.P.S. of $1.01 for its third fiscal quarter (ending September 30) versus $1.38 for the same period a year ago — a decline of -27%. This performance was $-0.02 short of the consensus estimate of $1.03. For the latest four quarters through September 30, E.P.S. were $4.60 compared to $5.85 a year ago — a decline of -21%.
Recent Price Action
Independent Bank Corp. (NASDAQ: INDB) stock closed at $65.09 on 10/17/24 after an increase of 1.3%. Moreover, trading volume in this advance was above average at 135% of normal. The stock has risen 12.4% during the last week and has been strong relative to the market over the last nine months.
Current PriceTarget Research Rating
INDB is expected to continue to be a modest Value Builder reflecting capital returns that are forecasted to exceed the cost of capital.
Independent Bank has a current Value Trend Rating of A (Highest Rating). With this rating, PTR’s two proprietary measures of a stock’s current attractiveness are providing highly consistent signals. Independent Bank has a good Power Rating of 70 and a good Appreciation Score of 82, leading to the Highest Value Trend Rating.
Rating Review
In light of this new information we are reviewing our current Overall Rating of A. This review will be completed in the next several days.
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