Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Independent Bank Corp. shares valued at $25,543 were purchased by Ruggiero Mark J on Mar 01 ’24. At $51.09 per share, Ruggiero Mark J acquired 500 shares. The insider’s holdings grew to 16,032 shares worth approximately $0.82 million following the completion of this transaction.
Also, Abelli Donna L sold 800 shares, netting a total of over 42,264 in proceeds. Following the sale of shares at $52.83 each, the insider now holds 11,640 shares.
Before that, MISKELL EILEEN C had sold 400 shares from its account. In a trade valued at $24,520, the Director traded Independent Bank Corp. shares for $61.30 each. Upon closing the transaction, the insider’s holdings decreased to 400 shares, worth approximately $0.72 million.
As published in a research note from Seaport Research Partners on October 23, 2023, Independent Bank Corp. [INDB] has been rated up from a Sell to a Neutral. Analysts at Seaport Research Partners started covering the stock with ‘”a Sell”‘ outlook in a report released in mid September. As of December 21, 2022, Raymond James has initiated its “Mkt perform” rating for INDB. Earlier on December 13, 2022, Keefe Bruyette downgraded its rating. Their new recommendation was “a Mkt perform” for INDB stock which previously was a “an Outperform”.
Analyzing INDB Stock Performance
During the last five days, there has been a drop of approximately -3.87%. Over the course of the year, Independent Bank Corp. shares have dropped approximately -22.70%. Shares of the company reached a 52-week high of $66.65 on 01/02/24 and a 52-week low of $46.80 on 04/10/24. A 50-day SMA is recorded $50.71, while a 200-day SMA reached $54.40. Nevertheless, trading volume fell to 0.36 million shares from 0.21 million shares the previous day.
Support And Resistance Levels for Independent Bank Corp. (INDB)
According to the 24-hour chart, there is a support level at 50.10, which, if violated, would cause prices to drop to 49.34. In the upper region, resistance lies at 51.80. The next price resistance is at 52.73. RSI (Relative Strength Index) is 50.68 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.20, which suggests the price will decrease in the coming days. Percent R is at 44.01%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
