Independent Bank Corp.’s recent filing unveils that its Director MISKELL EILEEN C unloaded Company’s shares for reported $56946.0 on Jun 03 ’24. In the deal valued at $50.22 per share,1,134 shares were sold. As a result of this transaction, MISKELL EILEEN C now holds 13,206 shares worth roughly $0.82 million.
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Then, Ruggiero Mark J bought 500 shares, generating $25,543 in total proceeds. Upon buying the shares at $51.09, the CFO & EVP Consumer Lending now owns 16,032 shares.
Before that, Abelli Donna L sold 800 shares. Independent Bank Corp. shares valued at $42,264 were divested by the Director at a price of $52.83 per share. As a result of the transaction, Abelli Donna L now holds 11,640 shares, worth roughly $0.72 million.
Raymond James upgraded its Independent Bank Corp. [INDB] rating to a Strong buy from a a Mkt perform in a research note published recently. A number of analysts have revised their coverage, including Seaport Research Partners’s analysts, who increased its forecast for the stock in late July from “a Neutral” to “a Buy”. Seaport Research Partners also remained covering INDB and has increased its forecast on October 23, 2023 with a “Neutral” recommendation from previously “Sell” rating. Seaport Research Partners started covering the stock on September 12, 2023. It rated INDB as “a Sell”.
Price Performance Review of INDB
On Tuesday, Independent Bank Corp. [NASDAQ:INDB] saw its stock fall -0.32% to $62.17. Over the last five days, the stock has lost -1.38%. Independent Bank Corp. shares have fallen nearly -5.53% since the year began. Nevertheless, the stocks have risen 36.31% over the past one year. While a 52-week high of $68.75 was reached on 01/02/24, a 52-week low of $44.63 was recorded on 06/21/24. SMA at 50 days reached $60.35, while 200 days put it at $54.96.
Levels Of Support And Resistance For INDB Stock
The 24-hour chart illustrates a support level at 61.53, which if violated will result in even more drops to 60.90. On the upside, there is a resistance level at 62.68. A further resistance level may holdings at 63.20. The Relative Strength Index (RSI) on the 14-day chart is 56.28, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 1.67, which suggests price will go up in the next trading period. Percent R suggests that price movement has been low at 35.71%. Stochastics %K at 62.84% indicates the stock is a holding.
How much short interest is there in Independent Bank Corp.?
A steep rise in short interest was recorded in Independent Bank Corp. stocks on 2024-09-30, dropping by -0.34 million shares to a total of 0.52 million shares. Yahoo Finance data shows the prior-month short interest on 2024-08-30 was 0.86 million shares. There was a decline of -65.8%, which implies that there is a negative sentiment for the stock.
The most recent change occurred on December 21, 2022 when Raymond James began covering the stock and recommended ‘”a Mkt perform”‘ rating.
