INDB Stock Summary and Trading Ideas (Independent Bank Corp. | NASDAQ:INDB)

Independent Bank Corp is a bank holding company and the sole shareholder of its bank, the Rockland Trust Company. Rockland is a community-oriented commercial bank. The bank provides a variety of banking, investment and financial services, operating with various retail branches, as well as a network of commercial and residential lending centers, and investment management offices majorly in Eastern Massachusetts, Worcester County, and Rhode Island. The bank's loan portfolio constitutes the bulk of the bank's total assets. Its borrowers consist mostly of small to medium-size businesses and consumers, majority of which are made to its market area in eastern Massachusetts and Rhode Island. The bank's loan portfolio is predominantly in commercial loans.

Independent Bank Corp. trades on the NASDAQ stock market under the symbol INDB.

As of April 24, 2024, INDB stock price climbed to $52.92 with 441,328 million shares trading.

INDB has a beta of 1.05, meaning it tends to be more sensitive to market movements. INDB has a correlation of 0.11 to the broad based SPY ETF.

INDB has a market cap of $2.25 billion. This is considered a Mid Cap stock.

Last quarter Independent Bank Corp. reported $167 million in Revenue and $1.12 earnings per share. This fell short of revenue expectation by $-3 million and missed earnings estimates by -$.03.

In the last 3 years, INDB stock traded as high as $93.52 and as low as $43.28.

The top ETF exchange traded funds that INDB belongs to (by Net Assets): IJR, VTI, VB, IWM, VBR.

INDB has underperformed the market in the last year with a return of -7.5%, while the SPY ETF gained +24.2%. In the last 3 month period, INDB fell short of the market, returning -11.9%, while SPY returned +4.6%. However, in the most recent 2 weeks INDB has outperformed the stock market by returning +5.9%, while SPY returned -2.7%.

INDB support price is $51.15 and resistance is $53.29 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that INDB stock will trade within this expected range on the day.