What is Seaport Res Ptn's Forecast for INDB FY2025 Earnings?

Key Points

• Seaport Res Ptn has raised its FY2025 earnings per share (EPS) forecast for Independent Bank Corp. to $5.54, slightly above the previous estimate of $5.49.
• Independent Bank's stock has seen recent upgrades, with ratings including "outperform" from Keefe, Bruyette & Woods and a "hold" from Weiss Ratings, reflecting a range of perspectives from analysts.
• The bank has announced a quarterly dividend of $0.59 per share, translating to an annual yield of 3.4%, with a payout ratio of 57.42%.

Independent Bank Corp. (NASDAQ:INDB - Free Report) - Stock analysts at Seaport Res Ptn increased their FY2025 earnings per share (EPS) estimates for shares of Independent Bank in a report issued on Monday, October 20th. Seaport Res Ptn analyst L. Hunsicker now forecasts that the bank will post earnings per share of $5.54 for the year, up from their prior forecast of $5.49. The consensus estimate for Independent Bank's current full-year earnings is $5.41 per share. Seaport Res Ptn also issued estimates for Independent Bank's Q2 2026 earnings at $1.83 EPS, Q3 2026 earnings at $1.89 EPS, FY2026 earnings at $7.39 EPS, Q1 2027 earnings at $1.96 EPS, Q2 2027 earnings at $2.04 EPS, Q3 2027 earnings at $2.09 EPS and FY2027 earnings at $8.22 EPS.

Other equities research analysts also recently issued research reports about the stock. Keefe, Bruyette & Woods raised shares of Independent Bank from a "market perform" rating to an "outperform" rating and set a $83.00 price target on the stock in a research note on Tuesday. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Independent Bank in a research report on Wednesday, October 8th. Wall Street Zen upgraded shares of Independent Bank from a "sell" rating to a "hold" rating in a research note on Sunday, August 10th. Independent Research set a $83.00 target price on Independent Bank in a research note on Tuesday. Finally, Zacks Research downgraded Independent Bank from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 19th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, Independent Bank has an average rating of "Moderate Buy" and an average target price of $76.75.

Independent Bank Stock Up 3.6%

Shares of INDB stock opened at $68.60 on Tuesday. The company has a market capitalization of $3.42 billion, a price-to-earnings ratio of 16.69 and a beta of 0.85. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.95 and a quick ratio of 0.94. The company's fifty day moving average price is $69.50 and its 200-day moving average price is $64.80. Independent Bank has a one year low of $52.15 and a one year high of $77.23.

Independent Bank (NASDAQ:INDB - Get Free Report) last announced its earnings results on Wednesday, February 12th. The bank reported $1.01 earnings per share for the quarter. Independent Bank had a net margin of 16.64% and a return on equity of 7.19%. The business had revenue of $175.25 million during the quarter.

Hedge Funds Weigh In On Independent Bank

Several hedge funds have recently made changes to their positions in the company. GAMMA Investing LLC lifted its stake in shares of Independent Bank by 156.9% in the 1st quarter. GAMMA Investing LLC now owns 429 shares of the bank's stock worth $27,000 after acquiring an additional 262 shares during the period. SG Americas Securities LLC increased its stake in shares of Independent Bank by 215.0% during the 1st quarter. SG Americas Securities LLC now owns 5,739 shares of the bank's stock worth $360,000 after purchasing an additional 3,917 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in shares of Independent Bank by 9.0% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 25,359 shares of the bank's stock valued at $1,589,000 after acquiring an additional 2,092 shares in the last quarter. GHP Investment Advisors Inc. boosted its stake in shares of Independent Bank by 3.8% during the 1st quarter. GHP Investment Advisors Inc. now owns 33,678 shares of the bank's stock worth $2,110,000 after purchasing an additional 1,220 shares during the last quarter. Finally, Illinois Municipal Retirement Fund grew its stake in Independent Bank by 4.2% in the 1st quarter. Illinois Municipal Retirement Fund now owns 23,867 shares of the bank's stock worth $1,495,000 after acquiring an additional 953 shares during the period. Hedge funds and other institutional investors own 83.40% of the company's stock.

Independent Bank Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 7th. Investors of record on Monday, September 29th were paid a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date was Monday, September 29th. Independent Bank's dividend payout ratio is presently 57.42%.

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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