On Wednesday, shares of Independent Bank Corp. (NASDAQ:INDB) marked $66.21 per share versus a previous $67.35 closing price. With having a -1.69% loss, an insight into the fundamental values of Independent Bank Corp., investors would also find a great ally in the technical patterns of the stock movements showed in stock charts. INDB showed a fall of -20.47% within its YTD performance, with highs and lows between $50.45 – $87.11 during the period of 52 weeks, compared to the simple moving average of -9.14% in the period of the last 200 days.
Piper Sandler equity researchers changed the status of Independent Bank Corp. (NASDAQ: INDB) shares from “Overweight” to a “Neutral” rating in the report published on June 24th, 2020. Other analysts, including DA Davidson, also published their reports on INDB shares. DA Davidson repeated the rating from the previous report, marking INDB under “Neutral” rating, in the report published on June 8th, 2020. Additionally, INDB shares got another “Buy” rating from DA Davidson, setting a target price of $68 on the company’s shares, according to the report published in March 16th, 2020. On March 4th, 2020, Compass Point Downgrade an Neutral rating and increased its price target to $76. On the other hand, Gabelli & Co Initiated the “Hold” rating for INDB shares, as published in the report on December 9th, 2019. Compass Point seems to be going bullish on the price of INDB shares, based on the price prediction for INDB, indicating that the shares will jump from $77 to $83, giving the shares “Buy” rating based on their report from July 19th, 2019. Another “Neutral” rating came from DA Davidson.
The present dividend yield for INDB owners is set at 0.03, marking the return investors will get regardless of the company’s performance in the upcoming period. However, in order for the company to be able to pay its dividends, just like it is the case with Independent Bank Corp., the company needs to provide a healthy cash flow, currently at the value of 22.30. In addition, the growth of sales from quarter to quarter is recording 17.40%, hinting the company’s progress in the upcoming progress.
In order to gain a clear insight on the performance of Independent Bank Corp. (INDB) as it may occur in the future, there are more than several well-rounded types of analysis and research techniques, while equity is most certainly one of the more important indicators into the company’s growth and performance. In this case, you want to make sure that the return on the present equity of 9.30% is enough for you to make a profit out of your investment. You may also count in the quick ratio of the company, currently set at so you would make sure that the company is able to cover the debts it may have, which can be easily seen in annual reports of the company.
Set to affect the volatility of a given stock, the average volume can also be a valuable indicator, while INDB is currently recording an average of 170.62K in volumes. The volatility of the stock on monthly basis is set at 3.87%, while the weekly volatility levels are marked at 3.24%with -0.09% of loss in the last seven days. Additionally, long-term investors are predicting the target price of $75.75, indicating growth from the present price of $66.21, which can represent yet another valuable research and analysis points that can help you decide whether to invest in INDB or pass.
Independent Bank Corp. (INDB) is based in the USA and it represents one of the well-known company operating with Financial sector. If you wish to compare INDB shares with other companies under Electronic Equipment and Consumer Goods, a factor to note is the P/E value of 14.52 for Independent Bank Corp., while the value 18.06 can represent an indicator in the future growth of the company in terms of investor’s expectations. The later value should have a steady growth rate, increasing and growing gradually, which serves the purpose of reliably showcasing the progress of the company. The value 4.56 is supported by the yearly EPS growth of 14.30%.
Besides from looking into the fundamentals, you should also note the number of people inside the company owning the shares, as the values should be in line with the expectations of investors. In that spirit, the present ownership of stocks inside the company is set at 1.00%, which can provide you with an insight of how involved executives are in owning shares of the company. In oppose to the executives’ share, the institutional ownership counts 84.80% of shares, carrying an equal significance as an indicator of value, as the presence of large investors may signal a strong company.Are Institutional Investors Increasing Stakes in INDB Shares?
It appears that more than several institutional investors and hedge funds decided to increase stakes in INDB in the recent period. That is how BlackRock Fund Advisors now has an increase position in INDB by 1.76% in the first quarter, owning 4.63 million shares of INDB stocks, with the value of $310.93 million after the purchase of an additional 80,069 shares during the last quarter. In the meanwhile, The Vanguard Group, Inc. also increased their stake in INDB shares changed 2.12% in the first quarter, which means that the company now owns 3.6 million shares of company, all valued at $241.48 million after the acquisition of additional 74,611 shares during the last quarter.
Silvercrest Asset Management Grou acquired a new position in Independent Bank Corp. during the first quarter, with the value of $104.1 million, and Victory Capital Management, Inc. increased their stake in the company’s shares by 46.73% in the first quarter, now owning 460,518 shares valued at $97.01 million after the acquisition of the additional 1.45 million shares during the last quarter. In the end, Champlain Investment Partners LLC increased their position by 4.93% during the first quarter, now owning 1.25 million INDB shares, now holding the value of $84.13 million in INDB with the purchase of the additional 31,440 shares during the period of the last quarter. At the present, 84.80% of INDB shares are in the ownership of institutional investors.