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NASDAQ:INDB

Independent Bank (INDB) Stock Price, News & Analysis

$49.13
-1.82 (-3.57%)
(As of 03/4/2024 ET)
Today's Range
$48.97
$51.79
50-Day Range
$50.95
$67.82
52-Week Range
$43.28
$78.39
Volume
402,199 shs
Average Volume
282,649 shs
Market Capitalization
$2.09 billion
P/E Ratio
9.06
Dividend Yield
4.48%
Price Target
$68.00

Independent Bank MarketRank™ Stock Analysis

Analyst Rating
Hold
2.00 Rating Score
Upside/​Downside
38.4% Upside
$68.00 Price Target
Short Interest
Healthy
1.77% of Shares Sold Short
Dividend Strength
Strong
Based on Four Factors
Sustainability
N/A
News Sentiment
0.84mentions of Independent Bank in the last 14 days
Based on 6 Articles This Week
Insider Trading
Selling Shares
$66,784 Sold Last Quarter
Proj. Earnings Growth
5.68%
From $4.58 to $4.84 Per Share

Overall MarketRank

New Rank-Based ScoringMarketRank is calculated by averaging available category scores (with extra weight given to analysis and valuation), then ranking the company's weighted average against that of other companies.

4.46 out of 5 stars

Finance Sector

180th out of 863 stocks

State Commercial Banks Industry

42nd out of 183 stocks


INDB stock logo

About Independent Bank Stock (NASDAQ:INDB)

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 primarily in Massachusetts. It accepts interest checking, money market, and savings accounts, as well as demand deposits and time certificates of deposit. The company also offers commercial and industrial, commercial real estate and construction, small business, and consumer real estate. In addition, it provides investment management and trust services to individuals, institutions, small businesses, and charitable institutions; Internet and mobile banking services, as well as estate settlement, financial planning, tax services, and other services; automated teller machine and debit cards; and mutual fund and unit investment trust shares, general securities, fixed and variable annuities, and life insurance products, as well as advisory platforms. The company was founded in 1907 and is headquartered in Rockland, Massachusetts.

INDB Stock Price History

INDB Stock News Headlines

INDB Mar 2024 55.000 put
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Independent Bank Corp.
This is the #1 Stock to Buy for the AI Tidal Wave
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Independent Bank: Q4 Earnings Insights
Independent Bank Corp INDB
Independent Bank Corp INDB Stock Quote
Independent Bank Insider Trades Send a Signal
See More Headlines
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Company Calendar

Ex-Dividend for 1/5 Dividend
12/22/2023
Dividend Payable
1/05/2024
Last Earnings
1/18/2024
Today
3/04/2024
Next Earnings (Estimated)
4/18/2024
Fiscal Year End
12/31/2024

Industry, Sector and Symbol

Sector
Finance
Industry
State commercial banks
Sub-Industry
Regional Banks
Current Symbol
NASDAQ:INDB
CUSIP
45383610
Employees
1,787
Year Founded
1864

Price Target and Rating

Average Stock Price Target
$68.00
High Stock Price Target
$72.00
Low Stock Price Target
$64.00
Potential Upside/Downside
+38.4%
Consensus Rating
Hold
Rating Score (0-4)
2.00
Research Coverage
2 Analysts

Profitability

Net Income
$239.50 million
Pretax Margin
34.24%

Debt

Sales & Book Value

Annual Sales
$920.34 million
Cash Flow
$6.06 per share
Book Value
$66.02 per share

Miscellaneous

Free Float
42,077,000
Market Cap
$2.09 billion
Optionable
Optionable
Beta
0.83

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Key Executives















INDB Stock Analysis - Frequently Asked Questions

Should I buy or sell Independent Bank stock right now?

2 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Independent Bank in the last year. There are currently 2 hold ratings for the stock. The consensus among Wall Street analysts is that investors should "hold" INDB shares. A hold rating indicates that analysts believe investors should maintain any existing positions they have in INDB, but not buy additional shares or sell existing shares.
View INDB analyst ratings
or view top-rated stocks.

What is Independent Bank's stock price target for 2024?

2 Wall Street analysts have issued 12 month price objectives for Independent Bank's shares. Their INDB share price targets range from $64.00 to $72.00. On average, they anticipate the company's stock price to reach $68.00 in the next twelve months. This suggests a possible upside of 38.4% from the stock's current price.
View analysts price targets for INDB
or view top-rated stocks among Wall Street analysts.

How have INDB shares performed in 2024?

Independent Bank's stock was trading at $65.81 at the beginning of the year. Since then, INDB shares have decreased by 25.3% and is now trading at $49.13.
View the best growth stocks for 2024 here
.

When is Independent Bank's next earnings date?

The company is scheduled to release its next quarterly earnings announcement on Thursday, April 18th 2024.
View our INDB earnings forecast
.

How were Independent Bank's earnings last quarter?

Independent Bank Corp. (NASDAQ:INDB) issued its quarterly earnings data on Thursday, January, 18th. The bank reported $1.26 EPS for the quarter, beating analysts' consensus estimates of $1.25 by $0.01. The bank had revenue of $177.16 million for the quarter, compared to analysts' expectations of $176.75 million. Independent Bank had a trailing twelve-month return on equity of 8.35% and a net margin of 26.02%.

How often does Independent Bank pay dividends? What is the dividend yield for Independent Bank?

Independent Bank announced a quarterly dividend on Thursday, December 14th. Investors of record on Tuesday, December 26th will be paid a dividend of $0.55 per share on Friday, January 5th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 4.48%. The ex-dividend date of this dividend is Friday, December 22nd.
Read our dividend analysis for INDB
.

Is Independent Bank a good dividend stock?

Independent Bank (NASDAQ:INDB) pays an annual dividend of $2.20 per share and currently has a dividend yield of 4.32%. INDB has a dividend yield higher than 75% of all dividend-paying stocks, making it a leading dividend payer. The dividend payout ratio is 40.59%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, INDB will have a dividend payout ratio of 45.45% next year. This indicates that the company will be able to sustain or increase its dividend.
Read our dividend analysis for INDB.

What other stocks do shareholders of Independent Bank own?
Who are Independent Bank's major shareholders?

Independent Bank's stock is owned by a number of institutional and retail investors. Top institutional investors include Vanguard Group Inc. (12.02%), Victory Capital Management Inc. (4.03%), Dimensional Fund Advisors LP (4.00%), Nuance Investments LLC (2.91%), Northern Trust Corp (1.51%) and Rockland Trust Co. (1.48%). Insiders that own company stock include Barry H Jensen, Christopher Oddleifson, Donna L Abelli, Edward H Seksay, Eileen C Miskell, Eileen C Miskell, Gerard F Nadeau, Jeffrey J Tengel, John J Morrissey, Lee C Powlus, Mark J Ruggiero, Robert D Cozzone, Robert D Cozzone and Scott Smith.
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.
Compare Top Brokerages Here.

This page (NASDAQ:INDB) was last updated on 3/4/2024 by MarketBeat.com Staff