Independent Bank Corp. (NASDAQ: INDB) has reported E.P.S. of $1.26 for its fourth fiscal quarter (ending December 31) versus $1.69 for the same period a year ago — a decline of -25%. However, this result exceeded the consensus estimate of $1.25 by $0.01. For the latest four quarters through December 31, E.P.S. were $5.42 versus $5.69 for the same period a year ago — a decline of -5%.
Recent Price Action
On 1/18/24, Independent Bank Corp. (NASDAQ: INDB) stock rose modestly by 0.7%, closing at $61.03. This advance was accompanied by normal trading volume. Relative to the market the stock has been exceptionally strong over the last nine months but has declined -4.6% during the last week.
Current PriceTarget Research Rating
INDB’s future returns on capital are forecasted to be above the cost of capital. Accordingly, the company is expected to continue to be a modest Value Builder.
Independent Bank has a current Value Trend Rating of A (Highest Rating). The Value Trend Rating reflects highly consistent signals from PTR’s two proprietary measures of a stock’s attractiveness. Independent Bank has a good Appreciation Score of 74 and a good Power Rating of 84, triggering 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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