Independent Bank (INDB) Stock Forecast, Price & News

3 Wall Street equities research analysts have issued "buy," "hold," and "sell" ratings for Independent Bank in the last year. There are currently 1 sell rating and 2 hold ratings for the stock. The consensus among Wall Street equities research analysts is that investors should "reduce" INDB shares.
View INDB analyst ratings or view top-rated stocks.

3 analysts have issued 1 year target prices for Independent Bank's stock. Their INDB share price forecasts range from $72.00 to $100.00. On average, they expect the company's stock price to reach $84.00 in the next twelve months. This suggests a possible upside of 71.8% 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 2023. Since then, INDB shares have decreased by 42.1% and is now trading at $48.89.
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Independent Bank saw a increase in short interest during the month of September. As of September 15th, there was short interest totaling 926,300 shares, an increase of 17.1% from the August 31st total of 790,700 shares. Based on an average trading volume of 242,000 shares, the short-interest ratio is currently 3.8 days.
View Independent Bank's Short Interest.

The company is scheduled to release its next quarterly earnings announcement on Thursday, October 19th 2023.
View our INDB earnings forecast.

Independent Bank Corp. (NASDAQ:INDB) posted its quarterly earnings data on Thursday, July, 20th. The bank reported $1.42 EPS for the quarter, beating the consensus estimate of $1.34 by $0.08. The bank had revenue of $183.30 million for the quarter, compared to the consensus estimate of $184.40 million. Independent Bank had a trailing twelve-month return on equity of 9.58% and a net margin of 31.75%.

Independent Bank declared a quarterly dividend on Thursday, September 21st. Stockholders of record on Monday, October 2nd will be paid a dividend of $0.55 per share on Friday, October 6th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 4.50%. The ex-dividend date of this dividend is Friday, September 29th.
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), ProShares Russell 2000 Dividend Growers ETF (SMDV), Invesco S&P SmallCap Low Volatility ETF (XSLV), Invesco S&P SmallCap Financials ETF (PSCF), First Trust Mid Cap Value AlphaDEX Fund (FNK), First Trust Nasdaq Bank ETF (FTXO) and First Trust Mid Cap Core AlphaDEX Fund (FNX).

Independent Bank (NASDAQ:INDB) pays an annual dividend of $2.20 per share and currently has a dividend yield of 4.52%. 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 36.42%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, INDB will have a dividend payout ratio of 45.74% 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 many different institutional and retail investors. Top institutional investors include BlackRock Inc. (14.72%), State Street Corp (5.12%), Victory Capital Management Inc. (4.27%), Dimensional Fund Advisors LP (3.60%), Silvercrest Asset Management Group LLC (3.27%) and Geode Capital Management LLC (2.06%). 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, Mark J Ruggiero, Robert D Cozzone, Robert D Cozzone and Scott Smith.
View institutional ownership trends.

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 $48.89.

Independent Bank (NASDAQ:INDB) has a market capitalization of $2.16 billion and generates $757.51 million in revenue each year. The bank earns $263.81 million in net income (profit) each year or $6.04 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.