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NASDAQ:INDB

Independent Bank (INDB) Stock Forecast, Price & News

$48.89
+0.54 (+1.12%)
(As of 09/28/2023 ET)
Compare
Today's Range
$48.18
$49.33
50-Day Range
$48.19
$61.07
52-Week Range
$43.28
$91.65
Volume
279,084 shs
Average Volume
259,594 shs
Market Capitalization
$2.16 billion
P/E Ratio
8.09
Dividend Yield
4.50%
Price Target
$84.00

Independent Bank MarketRank™ Forecast

Analyst Rating
Reduce
1.67 Rating Score
Upside/​Downside
71.8% Upside
$84.00 Price Target
Short Interest
Healthy
2.10% of Shares Sold Short
Dividend Strength
Strong
Based on Four Factors
Sustainability
N/A
News Sentiment
0.81mentions of Independent Bank in the last 14 days
Based on 6 Articles This Week
Insider Trading
N/A
Proj. Earnings Growth
-9.93%
From $5.34 to $4.81 Per Share

Overall MarketRank

MarketRank is calculated as an average of available category scores, with extra weight given to analysis and valuation.

2.79 out of 5 stars

Finance Sector

193rd out of 877 stocks

State Commercial Banks Industry

54th out of 186 stocks


INDB stock logo

About Independent Bank (NASDAQ:INDB) Stock

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 Price History

INDB Stock News Headlines

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INDB: Lowering target price to $56.00
See More Headlines
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INDB Company Calendar

Ex-Dividend for 7/7 Dividend
6/23/2023
Dividend Payable
7/07/2023
Last Earnings
7/20/2023
Today
9/28/2023
Ex-Dividend for 10/6 Dividend
9/29/2023
Dividend Payable
10/06/2023
Next Earnings (Estimated)
10/19/2023
Fiscal Year End
12/31/2023

Industry, Sector and Symbol

Industry
State commercial banks
Sub-Industry
Regional Banks
Sector
Finance
Current Symbol
NASDAQ:INDB
CUSIP
45383610
Employees
1,739
Year Founded
1864

Price Target and Rating

Average Stock Price Forecast
$84.00
High Stock Price Forecast
$100.00
Low Stock Price Forecast
$72.00
Forecasted Upside/Downside
+71.8%
Consensus Rating
Reduce
Rating Score (0-4)
1.67
Research Coverage
3 Analysts

Profitability

Net Income
$263.81 million
Pretax Margin
41.83%

Debt

Sales & Book Value

Annual Sales
$757.51 million
Cash Flow
$6.77 per share
Book Value
$63.25 per share

Miscellaneous

Free Float
43,751,000
Market Cap
$2.16 billion
Optionable
Optionable
Beta
0.84

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Key Executives

  • Mr. Mark J. Ruggiero (Age 46)
    CFO & Exec. VP of Consumer Lending
    Comp: $928.76k
  • Mr. Jeffrey J. Tengel (Age 60)
    Pres, CEO & Director
  • Ms. Maureen A. Gaffney (Age 44)
    Sr. VP, Controller & Principal Accounting Officer
  • Ms. Patricia M. Natale Esq.
    Exec. VP, Gen. Counsel & Corp. Sec.
  • Mr. Alastair Ironside
    Exec. VP & Chief Marketing Officer
  • Ms. Maria S. Harris (Age 52)
    Exec. VP & Chief Human Resource Officer
  • Ms. Debra Smith
    Sr. VP & Director of Banking & Digital Operations - Rockland Trust Company
  • Mr. David Byron Smith C.F.A.
    CFA, EVP, MD, Chief Investment Officer & Sr. Portfolio Mang.
  • Timothy C. Lane
    Sr. VP & Chief Internal Auditor
  • Ms. Dawn A. Mugford
    Exec. VP & Chief Risk Officer













INDB Stock - Frequently Asked Questions

Should I buy or sell Independent Bank stock right now?

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.

What is Independent Bank's stock price forecast for 2023?

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.

How have INDB shares performed in 2023?

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.
View the best growth stocks for 2023 here
.

Are investors shorting Independent Bank?

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
.

When is Independent Bank's next earnings date?

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

How were Independent Bank's earnings last quarter?

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%.

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

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
.

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 4.52%. 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.

What other stocks do shareholders of Independent Bank own?
What is Independent Bank's stock symbol?

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

Who are Independent Bank's major shareholders?

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
.

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 WeBull, Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab.
Compare Top Brokerages Here.

What is Independent Bank's stock price today?

One share of INDB stock can currently be purchased for approximately $48.89.

How much money does Independent Bank make?

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.

How many employees does Independent Bank have?

The company employs 1,739 workers across the globe.

How can I contact Independent Bank?

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.

This page (NASDAQ:INDB) was last updated on 9/28/2023 by MarketBeat.com Staff

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