Independent Bank (INDB) Stock Price, News & Analysis

Company Overview

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. It offers commercial real estate and construction, commercial and industrial, small business, secured and unsecured commercial, and consumer real estate loans; term loans and revolving/nonrevolving lines of credit; overdraft protection and letters of credit; and residential mortgages and home equity loans and lines. In addition, the company provides cash management services, such as ACH transaction processing, positive pay, and remote deposit services; investment management and trust services to individuals, institutions, small businesses, and charitable institutions; mobile, online, and telephone banking; estate settlement, financial planning, tax services, and other services; automated teller machines; debit and credit cards; and mutual fund and unit investment trust shares, third party model portfolios, general securities, fixed and variable annuities, and life insurance products, as well as advisory platforms. Further, it invests in low-income housing tax credit projects; holds, maintains, and disposes foreclosed properties; and operates as an investment advisor. Independent Bank Corp. was founded in 1907 and is headquartered in Rockland, Massachusetts.

Key Stats

• Today's Range: $61.17 to $63.40
• 50-Day Range: $53.62 to $65.21
• 52-Week Range: $45.11 to $77.23
• Volume: 223,855 shs
• Average Volume: 291,816 shs
• Market Capitalization: $2.65 billion
• P/E Ratio: 13.75
• Dividend Yield: 3.80%
• Price Target: $71.00
• Consensus Rating: Buy

Independent Bank Stock Analysis - MarketRank™

Independent Bank scored higher than 86% of companies evaluated by MarketBeat, and ranked 247th out of 935 stocks in the finance sector. Scores are calculated by averaging available category scores, with extra weight given to analysis and valuation.

Analyst's Opinion

• Score: 2.5 / 5
• Analyst Rating: Buy

Consensus Rating

Independent Bank has received a consensus rating of Buy. The company's average rating score is 3.00, and is based on no buy ratings, 2 hold ratings, and no sell ratings.

Amount of Analyst Coverage

Independent Bank has only been the subject of 2 research reports in the past 90 days.

Earnings and Valuation

• Score: 3.8 / 5
• Proj. Earnings Growth: 23.84%

Earnings Growth

Earnings for Independent Bank are expected to grow by 23.84% in the coming year, from $5.41 to $6.70 per share.

Price to Earnings Ratio vs. the Market

The P/E ratio of Independent Bank is 13.75, which means that it is trading at a less expensive P/E ratio than the market average P/E ratio of about 24.32.

Price to Earnings Ratio vs. Sector

The P/E ratio of Independent Bank is 13.75, which means that it is trading at a less expensive P/E ratio than the Finance sector average P/E ratio of about 22.64.

Price to Book Value per Share Ratio

Independent Bank has a P/B Ratio of 0.88. P/B Ratios below 1 indicate that a company could be undervalued with respect to its assets and liabilities.

Short Interest

• Score: 2.0 / 5
• Short Interest Level: Bearish

Percentage of Shares Shorted

4.46% of the float of Independent Bank has been sold short.

Short Interest Ratio / Days to Cover

Independent Bank has a short interest ratio ("days to cover") of 5.5.

Change versus previous month

Short interest in Independent Bank has recently increased by 9.30%, indicating that investor sentiment is decreasing significantly.

Dividend

• Score: 5.0 / 5
• Dividend Strength: Strong

Dividend Leadership

Independent Bank is a leading dividend payer. It pays a dividend yield of 3.86%, putting its dividend yield in the top 25% of dividend-paying stocks.

Dividend Growth

Independent Bank has been increasing its dividend for 15 years.

Dividend Coverage

The dividend payout ratio of Independent Bank is 53.15%. This payout ratio is at a healthy, sustainable level, below 75%.

Dividend Sustainability

Based on earnings estimates, Independent Bank will have a dividend payout ratio of 35.22% next year. This indicates that Independent Bank will be able to sustain or increase its dividend.

Sustainability and ESG

• Score: N/A
• Environmental Score: N/A

Percentage of Shares Shorted

4.46% of the float of Independent Bank has been sold short.

Short Interest Ratio / Days to Cover

Independent Bank has a short interest ratio ("days to cover") of 5.5.

Change versus previous month

Short interest in Independent Bank has recently increased by 9.30%, indicating that investor sentiment is decreasing significantly.

News and Social Media

• Score: 3.2 / 5
• News Sentiment: 1.69

News Sentiment

Independent Bank has a news sentiment score of 1.69. This score is calculated as an average of sentiment of articles about the company over the last seven days and ranges from 2 (good news) to -2 (bad news). This is a higher news sentiment than the 0.97 average news sentiment score of Finance companies.

News Coverage This Week

MarketBeat has tracked 10 news articles for Independent Bank this week, compared to 5 articles on an average week.

Company Ownership

• Score: 1.7 / 5
• Insider Trading: N/A

Insider Buying vs. Insider Selling

In the past three months, Independent Bank insiders have not sold or bought any company stock.

Percentage Held by Insiders

Only 0.81% of the stock of Independent Bank is held by insiders.

Percentage Held by Institutions

83.40% of the stock of Independent Bank is held by institutions. High institutional ownership can be a signal of strong market trust in this company.

INDB Stock Analysis - Frequently Asked Questions

How have INDB shares performed this year?

Independent Bank's stock was trading at $64.19 on January 1st, 2025. Since then, INDB stock has decreased by 3.2% and is now trading at $62.13.
View the best growth stocks for 2025 here.

How were Independent Bank's earnings last quarter?

Independent Bank Corp. (NASDAQ:INDB) announced its earnings results on Thursday, April, 17th. The bank reported $1.06 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.18 by $0.12. The bank had revenue of $178.04 million for the quarter, compared to the consensus estimate of $175.03 million. Independent Bank had a net margin of 19.58% and a trailing twelve-month return on equity of 6.57%.
Read the conference call transcript.

Who are Independent Bank's major shareholders?

Top institutional investors of Independent Bank include Vanguard Group Inc. (12.05%), Dimensional Fund Advisors LP (5.49%), Alliancebernstein L.P. (2.53%) and Victory Capital Management Inc. (2.08%). Insiders that own company stock include Christopher Oddleifson, Barry H Jensen, Robert D Cozzone, Jeffrey J Tengel, Eileen C Miskell, Donna L Abelli, John J Morrissey, Mark J Ruggiero, Edward H Seksay, Scott Smith and Lee C Powlus.
View institutional ownership trends.

How do I buy shares of Independent Bank?

Shares of INDB stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include Charles Schwab, E*TRADE, Fidelity, and Vanguard Brokerage Services.

What other stocks do shareholders of Independent Bank own?

Based on aggregate information from My MarketBeat watchlists, some other companies that Independent Bank investors own include NVIDIA (NVDA), Meta Platforms (META), Advanced Micro Devices (AMD), Netflix (NFLX), Broadcom (AVGO), Tesla (TSLA) and First Solar (FSLR).

Company Calendar

• Record date for 4/7 Dividend: 3/31/2025
• Ex-Dividend for 4/7 Dividend: 3/31/2025
• Dividend Payable: 4/07/2025
• Last Earnings: 4/17/2025
• Today: 5/29/2025
• Next Earnings (Estimated): 7/17/2025
• Fiscal Year End: 12/31/2025

Industry, Sector and Symbol

• Stock Exchange: NASDAQ
• Sector: Finance
• Industry: State commercial banks
• Sub-Industry: Regional Banks
• Current Symbol: NASDAQ:INDB
• CIK: 776901
• Web: www.rocklandtrust.com
• Phone: (781) 878-6100
• Fax: 781-982-6130
• Employees: 1,690
• Year Founded: 1864

Price Target and Rating

• Average Stock Price Target: $71.00
• High Stock Price Target: $78.00
• Low Stock Price Target: $63.00
• Potential Upside/Downside: +14.6%
• Consensus Rating: Buy
• Rating Score (0-4): 3.00
• Research Coverage: 4 Analysts

Profitability

• EPS (Most Recent Fiscal Year): $4.44
• Trailing P/E Ratio: 13.68
• Forward P/E Ratio: 11.45
• P/E Growth: N/A
• Net Income: $192.08 million
• Net Margins: 19.58%
• Pretax Margin: 25.20%
• Return on Equity: 6.57%
• Return on Assets: 1.00%

Debt

• Debt-to-Equity Ratio: 0.23
• Current Ratio: 0.95
• Quick Ratio: 0.95

Sales & Book Value

• Annual Sales: $694.32 million
• Price / Sales: 3.80
• Cash Flow: $5.60 per share
• Price / Cash Flow: 11.06
• Book Value: $70.44 per share
• Price / Book: 0.88

Miscellaneous

• Outstanding Shares: 42,619,000
• Free Float: 42,123,000
• Market Cap: $2.64 billion
• Optionable: Optionable
• Beta: 0.82