Independent Bank Stock Price, News & Analysis (NASDAQ:INDB)

3 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for Independent Bank in the last year. There are currently 3 hold ratings for the stock. The consensus among Wall Street research 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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3 equities research analysts have issued 1-year price targets for Independent Bank's shares. Their INDB share price targets range from $72.00 to $80.00. On average, they expect the company's stock price to reach $76.00 in the next year. This suggests a possible upside of 23.4% from the stock's current price.
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Independent Bank's stock was trading at $84.43 at the beginning of 2023. Since then, INDB stock has decreased by 27.0% and is now trading at $61.60.
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Independent Bank saw a increase in short interest in November. As of November 15th, there was short interest totaling 820,700 shares, an increase of 7.5% from the October 31st total of 763,700 shares. Based on an average trading volume of 222,600 shares, the short-interest ratio is presently 3.7 days.
View Independent Bank's Short Interest.

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

Independent Bank Corp. (NASDAQ:INDB) announced its earnings results on Thursday, October, 19th. The bank reported $1.38 earnings per share for the quarter, beating the consensus estimate of $1.33 by $0.05. The bank earned $183.42 million during the quarter, compared to the consensus estimate of $179.19 million. Independent Bank had a trailing twelve-month return on equity of 9.14% and a net margin of 29.16%.

Independent Bank announced a quarterly dividend on Thursday, September 21st. Shareholders of record on Monday, October 2nd will be given a dividend of $0.55 per share on Friday, October 6th. This represents a $2.20 dividend on an annualized basis and a yield of 3.57%. The ex-dividend date is Friday, September 29th.
Read our dividend analysis for INDB.

Independent Bank (NASDAQ:INDB) pays an annual dividend of $2.20 per share and currently has a dividend yield of 3.60%. 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 37.61%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, INDB will have a dividend payout ratio of 46.71% next year. This indicates that the company will be able to sustain or increase its dividend.
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).

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's stock is owned by many different retail and institutional investors. Top institutional shareholders include Victory Capital Management Inc. (4.32%), Nuance Investments LLC (3.79%), Northern Trust Corp (1.54%), Rockland Trust Co. (1.48%), Morgan Stanley (1.27%) and Ameriprise Financial Inc. (1.20%). 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.
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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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