Independent Bank Corp (NASDAQ: IBCP) has reported E.P.S. of $0.77 for its first fiscal quarter (ending March 31) versus $0.62 for the same period a year ago. For the latest four quarters through March 31, E.P.S. were $2.97 compared to $2.78 a year ago.
Recent Price Action
On 4/25/24, Independent Bank Corp (NASDAQ: IBCP) stock rose slightly by 0.2%, closing at $25.17. Moreover, trading volume in this advance was exceptionally high at 226% of normal. Relative to the market the stock has been exceptionally strong over the last nine months and has risen 8.5% during the last week.
Current PriceTarget Research Rating
IBCP’s future returns on capital are forecasted to be above the cost of capital. Accordingly, the company is expected to continue to be a Value Builder.
Independent Bank has a current Value Trend Rating of A (Highest Rating). This rating combines consistent signals from two proprietary PTR measures of a stock’s attractiveness. Independent Bank has a good Appreciation Score of 72 and a very high Power Rating of 94, producing the Highest Value Trend Rating.
Rating Review
In light of this new information and positive market action we are reviewing our current Overall Rating of A. This review will be completed in the next several days.
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