INDB Price Prediction Next Week
Analysis and Insights
To predict the stock price of Independent Bank (INDB) for the next trading week, we analyze both technical indicators and recent news sentiment.
Technical Analysis:
- Current Price: INDB is currently trading at $65.03 as of 2025-03-24.
- RSI (14): The Relative Strength Index (RSI) is at 41.27, indicating the stock is in a neutral zone but nearing oversold territory.
- MACD: The MACD line (-1.16) is below the signal line (0.03), suggesting bearish momentum, but the gap is narrowing.
- Stochastic Oscillator: The %K (35.52) and %D (35.77) lines are both in the lower half, indicating potential overselling.
- Fibonacci Levels: The stock is trading above the pivot point ($62.60) with resistance levels at $64.33 (R1) and $65.40 (R2).
News Sentiment and Fundamental Analysis:
- Dividend Growth: INDB has a strong history of dividend increases, with a recent hike to $0.57 per share, maintaining a yield of 3.58%.
- Revenue and Earnings: The company reported Q4 2024 revenues of $176.85 million and EPS of $1.21, both exceeding estimates.
- Analyst Targets: The Invesco FTSE RAFI US 1000 ETF (PRF), which holds INDB, has an implied analyst target price of $78.25, suggesting a 27.51% upside.
Price Prediction and Recommendation:
Based on the analysis, INDB is expected to reach $67.13 in the next trading week. The stock is likely to test the upper resistance level of $65.40, with potential to break out if momentum continues.
Recommendation: Buy INDB on dips near the pivot point ($62.60) with a target of $67.13.
INDB Similar Chart Price Prediction
The price of INDB is predicted to go up 3.39%, based on the high correlation periods with BCAL. The similarity of these two price pattern on the periods is 98.23%.
INDB
BCAL
Up: 3.39%Similarity: 98.23%
INDB Revenue Forecast
INDB EPS Forecast
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INDB Analyst's Forecast
Steve Moss
Raymond James
Strong Buy
2025-01-21
Price Target
$74 → $78
Upside
+14.37%
Raymond James raised the firm's price target on Independent Bank to $78 from $74 and keeps a Strong Buy rating on the shares. Credit stabilized, and Independent Bank has a path forward to materially lower non-performing assets with minimal incremental provision expense given existing specific reserves and pending short sales, while the net interest margin outlook is positive and appears conservative, the analyst tells investors in a research note. The firm views the results and guidance positively and likes the direction that management is leading the company.
Steve Moss
Raymond James
Hold → Strong Buy
2024-10-21
Price Target
$74
Upside
+18.65%
