Seaport Res Ptn Issues Pessimistic Outlook for INDB Earnings

Independent Bank Corp. (NASDAQ:INDB - Free Report) - Seaport Res Ptn cut their Q2 2025 EPS estimates for Independent Bank in a research report issued on Thursday, June 5th. Seaport Res Ptn analyst L. Hunsicker now anticipates that the bank will earn $1.15 per share for the quarter, down from their previous estimate of $1.18. The consensus estimate for Independent Bank's current full-year earnings is $5.41 per share.

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

Independent Bank Stock Performance

Shares of INDB traded up $0.05 during mid-day trading on Monday, hitting $65.25. The stock had a trading volume of 276,732 shares, compared to its average volume of 293,606. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.95 and a quick ratio of 0.95. The firm has a market cap of $2.78 billion, a P/E ratio of 14.44 and a beta of 0.84. Independent Bank has a 52 week low of $45.11 and a 52 week high of $77.23. The business has a fifty day moving average price of $60.17 and a 200-day moving average price of $64.34.

Independent Bank (NASDAQ:INDB - Get Free Report) last issued its quarterly earnings results on Thursday, April 17th. The bank reported $1.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.18 by ($0.12). Independent Bank had a return on equity of 6.57% and a net margin of 19.58%. The company had revenue of $178.04 million for the quarter, compared to analysts' expectations of $175.03 million.

Institutional Investors Weigh In On Independent Bank

A number of institutional investors and hedge funds have recently made changes to their positions in INDB. GAMMA Investing LLC grew its position in Independent Bank by 156.9% during the first quarter. GAMMA Investing LLC now owns 429 shares of the bank's stock worth $27,000 after buying an additional 262 shares in the last quarter. Venturi Wealth Management LLC purchased a new position in shares of Independent Bank during the fourth quarter worth about $62,000. Smartleaf Asset Management LLC increased its position in shares of Independent Bank by 105.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,056 shares of the bank's stock worth $68,000 after purchasing an additional 542 shares during the last quarter. Quarry LP raised its stake in Independent Bank by 1,328.6% in the first quarter. Quarry LP now owns 1,300 shares of the bank's stock valued at $81,000 after purchasing an additional 1,209 shares in the last quarter. Finally, Sterling Capital Management LLC raised its stake in Independent Bank by 810.2% in the fourth quarter. Sterling Capital Management LLC now owns 1,338 shares of the bank's stock valued at $86,000 after purchasing an additional 1,191 shares in the last quarter. Hedge funds and other institutional investors own 83.40% of the company's stock.

Independent Bank Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 7th. Stockholders of record on Monday, March 31st were given a dividend of $0.59 per share. This is a positive change from Independent Bank's previous quarterly dividend of $0.57. This represents a $2.36 dividend on an annualized basis and a dividend yield of 3.62%. The ex-dividend date was Monday, March 31st. Independent Bank's payout ratio is 53.15%.

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.