On Wednesday, Independent Bank got a positive adjustment to its Relative Strength (RS) Rating, from 78 to 82.
IBD's proprietary rating tracks price performance with a 1 (worst) to 99 (best) score. The grade shows how a stock's price movement over the trailing 52 weeks holds up against all the other stocks in our database.
History reveals that the best-performing stocks tend to have an 80 or better RS Rating in the early stages of their moves.
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Independent Bank is working on a consolidation with a 77.23 buy point. See if the stock can clear the breakout price in volume at least 40% above average.
Top and bottom line growth moved higher last quarter. Earnings were up -4%, compared to -27% in the prior report. Revenue increased from -4% to 0%.
The company earns the No. 45 rank among its peers in the Banks-Northeast industry group. The Bancorp, NB Bancorp and Eastern Bankshares are among the top 5 highly rated stocks within the group.
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