Seaport Res Ptn Has Negative Outlook for INDB Q2 Earnings

Independent Bank Corp. (NASDAQ:INDB - Free Report) - Investment analysts at Seaport Res Ptn cut their Q2 2025 EPS estimates for shares of 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 prior estimate of $1.18. The consensus estimate for Independent Bank's current full-year earnings is $5.41 per share.

INDB has been the topic of a number of other reports. Piper Sandler lowered their price target on shares of Independent Bank from $74.00 to $63.00 and set a "neutral" rating on the stock in a report on Monday, April 21st. Keefe, Bruyette & Woods lowered their target price on shares of 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. Finally, Wall Street Zen cut shares of Independent Bank from a "hold" rating to a "sell" rating in a research note on Saturday, April 26th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $71.00.

Independent Bank Stock Performance

Shares of INDB opened at $63.87 on Monday. The stock's 50-day simple moving average is $59.77 and its 200 day simple moving average is $64.39. The stock has a market capitalization of $2.72 billion, a price-to-earnings ratio of 14.13 and a beta of 0.84. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.95 and a current ratio of 0.95. Independent Bank has a 52-week low of $45.11 and a 52-week high of $77.23.

Independent Bank (NASDAQ:INDB - Get Free Report) last posted its 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). The company had revenue of $178.04 million for the quarter, compared to analysts' expectations of $175.03 million. Independent Bank had a return on equity of 6.57% and a net margin of 19.58%.

Institutional Trading of Independent Bank

Institutional investors and hedge funds have recently modified their holdings of the business. Strs Ohio purchased a new stake in Independent Bank in the first quarter valued at approximately $802,000. Intech Investment Management LLC lifted its holdings in shares of Independent Bank by 24.2% during the 1st quarter. Intech Investment Management LLC now owns 50,354 shares of the bank's stock worth $3,155,000 after acquiring an additional 9,823 shares during the last quarter. Jane Street Group LLC lifted its holdings in shares of Independent Bank by 1,222.7% during the 1st quarter. Jane Street Group LLC now owns 74,057 shares of the bank's stock worth $4,640,000 after acquiring an additional 68,458 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in 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 purchasing an additional 8,435 shares in the last quarter. Finally, Empowered Funds LLC raised its position in Independent Bank by 2.0% during the first quarter. Empowered Funds LLC now owns 125,727 shares of the bank's stock valued at $7,877,000 after purchasing an additional 2,519 shares in the last quarter. Hedge funds and other institutional investors own 83.40% of the company's stock.

Independent Bank Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 7th. Shareholders of record on Monday, March 31st were issued a $0.59 dividend. The ex-dividend date was Monday, March 31st. This represents a $2.36 annualized dividend and a dividend yield of 3.70%. This is a boost from Independent Bank's previous quarterly dividend of $0.57. Independent Bank's dividend payout ratio (DPR) is presently 53.15%.

Independent Bank Company Profile

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.

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