Independent Bank (INDB) Stock Forecast, Price & News

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.
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2 analysts have issued 12 month price objectives for Independent Bank's shares. Their INDB share price forecasts range from $72.00 to $100.00. On average, they anticipate the company's share price to reach $84.00 in the next year. This suggests a possible upside of 64.3% from the stock's current price.
View analysts price targets for INDB or view top-rated stocks among Wall Street analysts.

Independent Bank's stock was trading at $84.43 at the beginning of the year. Since then, INDB stock has decreased by 39.5% and is now trading at $51.12.
View the best growth stocks for 2023 here.

Independent Bank saw a drop in short interest during the month of May. As of May 15th, there was short interest totaling 1,090,000 shares, a drop of 7.6% from the April 30th total of 1,180,000 shares. Based on an average daily volume of 291,300 shares, the days-to-cover ratio is presently 3.7 days.
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The company is scheduled to release its next quarterly earnings announcement on Thursday, July 20th 2023.
View our INDB earnings forecast.

Independent Bank Corp. (NASDAQ:INDB) posted its earnings results on Wednesday, October, 20th. The bank reported $1.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.02 by $0.19. The bank earned $116.55 million during the quarter, compared to the consensus estimate of $117.97 million. Independent Bank had a trailing twelve-month return on equity of 9.54% and a net margin of 33.75%. During the same quarter in the previous year, the business earned $1.07 earnings per share.

Independent Bank announced a quarterly dividend on Thursday, March 16th. Investors of record on Monday, March 27th will be paid a dividend of $0.55 per share on Thursday, April 6th. This represents a $2.20 annualized dividend and a dividend yield of 4.30%. The ex-dividend date of this dividend is Friday, March 24th.
Read our dividend analysis for INDB.

ETFs with the largest weight of Independent Bank (NASDAQ:INDB) stock in their portfolio include Invesco KBW Regional Banking ETF (KBWR), First Trust NASDAQ ABA Community Bank Index Fund (QABA), Invesco S&P SmallCap Financials ETF (PSCF), ProShares Russell 2000 Dividend Growers ETF (SMDV), Invesco S&P SmallCap Low Volatility ETF (XSLV), SPDR S&P Regional Banking ETF (KRE), SPDR S&P Bank ETF (KBE) and First Trust Nasdaq Bank ETF (FTXO).

Independent Bank (NASDAQ:INDB) pays an annual dividend of $2.20 per share and currently has a dividend yield of 4.31%. INDB has a dividend yield higher than 75% of all dividend-paying stocks, making it a leading dividend payer. The company has been increasing its dividend for 12 consecutive years, indicating the company has a strong committment to maintain and grow its dividend. The dividend payout ratio is 37.04%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, INDB will have a dividend payout ratio of 42.88% next year. This indicates that the company will be able to sustain or increase its dividend.
Read our dividend analysis for INDB.

Based on aggregate information from My MarketBeat watchlists, some companies that other Independent Bank investors own include Energy Transfer (ET), CBL & Associates Properties (CBL), Cornerstone Total Return Fund (CRF), Martin Midstream Partners (MMLP), SandRidge Permian Trust (PER), AT&T (T), Cornerstone Strategic Value Fund (CLM), NGL Energy Partners (NGL), Owens Corning (OC) and Pfizer (PFE).

Independent Bank trades on the NASDAQ under the ticker symbol "INDB."

Independent Bank's stock is owned by a number of institutional and retail investors. Top institutional shareholders include BlackRock Inc. (15.20%), State Street Corp (5.02%), Victory Capital Management Inc. (4.08%), Dimensional Fund Advisors LP (3.66%), Silvercrest Asset Management Group LLC (3.23%) and Geode Capital Management LLC (2.07%). Insiders that own company stock include Barry H Jensen, Christopher Oddleifson, Daniel F Obrien, Donna L Abelli, Edward H Seksay, Eileen C Miskell, Eileen C Miskell, Gerard F Nadeau, Jeffrey J Tengel, Mark J Ruggiero, Robert D Cozzone, Robert D Cozzone and Scott Smith.
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Shares of INDB stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include WeBull, Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab.
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One share of INDB stock can currently be purchased for approximately $51.12.

Independent Bank (NASDAQ:INDB) has a market capitalization of $2.26 billion and generates $757.51 million in revenue each year. The bank earns $263.81 million in net income (profit) each year or $5.94 on an earnings per share basis.

The company employs 1,739 workers across the globe.

Independent Bank's mailing address is 2036 WASHINGTON STREET, HANOVER MA, 02370. The official website for the company is www.rocklandtrust.com. The bank can be reached via phone at (781) 878-6100, via email at meagan.silva@rocklandtrust.com, or via fax at 781-982-6130.