Independent Bank (INDB) Expected to Announce Quarterly Earnings on Thursday

Independent Bank (NASDAQ:INDB - Get Free Report) will likely be issuing its Q2 2025 quarterly earnings data after the market closes on Thursday, July 17th. Analysts expect the company to announce earnings of $1.20 per share and revenue of $179.47 million for the quarter.

Independent Bank (NASDAQ:INDB - Get Free Report) last issued its earnings results on Thursday, April 17th. The bank reported $1.06 EPS for the quarter, missing analysts' consensus estimates of $1.18 by ($0.12). Independent Bank had a return on equity of 6.41% and a net margin of 19.12%. The company had revenue of $178.04 million during the quarter, compared to the consensus estimate of $175.03 million. On average, analysts expect Independent Bank to post $5 EPS for the current fiscal year and $7 EPS for the next fiscal year.

Independent Bank Trading Down 2.1%

Shares of Independent Bank stock traded down $1.43 on Friday, hitting $65.98. 439,794 shares of the company traded hands, compared to its average volume of 303,900. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.28. The company has a market cap of $2.81 billion, a PE ratio of 14.86 and a beta of 0.84. The stock's 50 day moving average price is $63.38 and its 200-day moving average price is $63.37. Independent Bank has a 52 week low of $52.15 and a 52 week high of $77.23.

Independent Bank Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, July 7th. Shareholders of record on Monday, June 30th were given a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 3.58%. The ex-dividend date was Monday, June 30th. Independent Bank's dividend payout ratio (DPR) is presently 53.15%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Piper Sandler dropped their price target on Independent Bank from $74.00 to $63.00 and set a "neutral" rating on the stock in a research report on Monday, April 21st. Wall Street Zen cut shares of Independent Bank from a "hold" rating to a "sell" rating in a report on Saturday, April 26th. Finally, Keefe, Bruyette & Woods reduced their price target on shares of Independent Bank from $80.00 to $72.00 and set a "market perform" rating for the company in a report on Monday, April 21st. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, Independent Bank currently has an average rating of "Moderate Buy" and a consensus target price of $71.00.

Institutional Investors Weigh In On Independent Bank

Hedge funds have recently made changes to their positions in the stock. Goldman Sachs Group Inc. grew its stake in Independent Bank by 2.0% in the first quarter. Goldman Sachs Group Inc. now owns 599,898 shares of the bank's stock valued at $37,584,000 after purchasing an additional 11,714 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Independent Bank by 8.7% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 105,719 shares of the bank's stock valued at $6,623,000 after buying an additional 8,435 shares during the last quarter. Jane Street Group LLC boosted its holdings in shares of Independent Bank by 1,222.7% in the 1st quarter. Jane Street Group LLC now owns 74,057 shares of the bank's stock valued at $4,640,000 after buying an additional 68,458 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Independent Bank by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 25,274 shares of the bank's stock worth $1,583,000 after buying an additional 1,112 shares during the last quarter. Finally, Royal Bank of Canada raised its stake in shares of Independent Bank by 10.6% during the 1st quarter. Royal Bank of Canada now owns 12,451 shares of the bank's stock worth $779,000 after acquiring an additional 1,189 shares in the last quarter. 83.40% of the stock is currently owned by hedge funds and other institutional investors.

About Independent Bank

Independent Bank Corp. operates as the bank holding company for Rockland Trust Company that provides commercial banking products and services to individuals and small-to-medium sized businesses in the United States. The company provides interest checking, money market, and savings accounts, as well as demand deposits and time certificates of deposit.