For its third fiscal quarter (ending September 30), Independent Bank Corp (NASDAQ: IBCP) has reported a -21% decline in E.P.S. from $0.84 a year ago to $0.66 in the current quarter. For the latest four quarters through September 30, E.P.S. were $2.97 versus $2.88 for the same period a year ago — an increase of 3%.
Recent Price Action
On 10/24/24, Independent Bank Corp (NASDAQ: IBCP) stock declined modestly by -1.5%, closing at $32.74. Moreover, this decline was accompanied by unusually high trading volume at 189% of normal. The stock has declined -5.8% during the last week but has been exceptionally strong relative to the market over the last nine months.
Current PriceTarget Research Rating
IBCP’s future returns on capital are forecasted to exceed 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 complementary signals from two proprietary PTR measures of a stock’s attractiveness. Independent Bank has a slightly positive Appreciation Score of 64 and a very high Power Rating of 86, resulting in 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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