On Wednesday, Independent Bank received a positive adjustment to its Relative Strength (RS) Rating, from 67 to 74.
IBD's proprietary rating identifies market leadership with a 1 (worst) to 99 (best) score. The score shows how a stock's price movement over the trailing 52 weeks stacks up against all the other stocks in our database.
Over 100 years of market history reveals that the stocks that go on to make the biggest gains tend to have an RS Rating north of 80 in the early stages of their moves. See if Independent Bank can continue to rebound and clear that threshold.
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Independent Bank is building a cup with handle with a 65.79 buy point. See if it can break out in volume at least 40% above average.
Earnings-per-share growth fell in the company's latest report from -15% to -27%, but the top line rose from -7% to -4%.
The company holds the No. 56 rank among its peers in the Banks-Northeast industry group. Amalgamated Financial, Chain Bridge Bancorp and NB Bancorp are among the top 5 highly rated stocks within the group.
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