Positive News SentimentPositive NewsNASDAQ:INDB Independent Bank (INDB) Stock Forecast, Price & News $51.60 -1.76 (-3.30%) (As of 06/8/2023 ET) Add Compare Share Share Today's Range$50.78▼$52.9650-Day Range$44.14▼$65.6252-Week Range$43.28▼$91.65Volume237,323 shsAverage Volume262,877 shsMarket Capitalization$2.28 billionP/E Ratio8.69Dividend Yield4.26%Price Target$84.00 ProfileProfileAnalyst RatingsChartCompetitorsDividendEarningsFinancialsInsider TradesInstitutional OwnershipHeadlinesOptions ChainSEC FilingsShort InterestSocial MediaProfileAnalyst RatingsChartCompetitorsDividendEarningsFinancialsInsider TradesInstitutional OwnershipHeadlinesOptions ChainSEC FilingsShort InterestSocial Media Independent Bank MarketRank™ ForecastAnalyst RatingHold2.00 Rating ScoreUpside/Downside62.8% Upside$84.00 Price TargetShort InterestHealthy2.47% of Shares Sold ShortDividend StrengthStrongBased on Four FactorsSustainabilityN/ANews Sentiment1.57Based on 2 Articles This WeekInsider TradingAcquiring Shares$207,131 Bought Last QuarterProj. Earnings Growth-4.47%From $5.37 to $5.13 Per ShareSee Full Details Hide Full Details Overall MarketRank™MarketRank is calculated as an average of available category scores, with extra weight given to analysis and valuation.3.30 out of 5 starsFinance Sector22nd out of 861 stocksState Commercial Banks Industry10th out of 177 stocks 3.0 Analyst's Opinion Consensus RatingIndependent Bank has received a consensus rating of Hold. The company's average rating score is 2.00, and is based on no buy ratings, 2 hold ratings, and no sell ratings.Price Target Upside/DownsideAccording to analysts' consensus price target of $84.00, Independent Bank has a forecasted upside of 62.8% from its current price of $51.60.Amount of Analyst CoverageIndependent Bank has only been the subject of 1 research reports in the past 90 days. Previous Next 5.0 Short Interest Percentage of Shares Shorted2.47% of the outstanding shares of Independent Bank have been sold short.Short Interest Ratio / Days to CoverIndependent Bank has a short interest ratio ("days to cover") of 3.7, which is generally considered an acceptable ratio of short interest to trading volume.Change versus previous monthShort interest in Independent Bank has recently decreased by 7.63%, indicating that investor sentiment is improving significantly. Previous Next 5.0 Dividend Strength Dividend LeadershipIndependent Bank is a leading dividend payer. It pays a dividend yield of 4.31%, putting its dividend yield in the top 25% of dividend-paying stocks.Dividend GrowthIndependent Bank has been increasing its dividend for 12 years.Dividend CoverageThe dividend payout ratio of Independent Bank is 37.04%. This payout ratio is at a healthy, sustainable level, below 75%.Dividend SustainabilityBased on earnings estimates, Independent Bank will have a dividend payout ratio of 42.88% next year. This indicates that Independent Bank will be able to sustain or increase its dividend. Previous Next N/A Sustainability and ESG Overall ESG (Environmental, Social, and Governance) ScoreThere is no current Upright™ data available for INDB. Previous Next 3.6 News and Social Media Coverage News SentimentIndependent Bank has a news sentiment score of 1.57. This score is calculated as an average of sentiment of articles about the company over the last seven days and ranges from 2 (good news) to -2 (bad news). This is a higher news sentiment than the 0.60 average news sentiment score of Finance companies.News Coverage This WeekMarketBeat has tracked 2 news articles for Independent Bank this week, compared to 2 articles on an average week.Search Interest3 people have searched for INDB on MarketBeat in the last 30 days. MarketBeat Follows1 people have added Independent Bank to their MarketBeat watchlist in the last 30 days. Previous Next 3.3 Company Ownership Insider Buying vs. Insider SellingIn the past three months, Independent Bank insiders have bought 185.39% more of their company's stock than they have sold. Specifically, they have bought $207,131.00 in company stock and sold $72,579.00 in company stock.Percentage Held by InsidersOnly 0.87% of the stock of Independent Bank is held by insiders.Percentage Held by Institutions81.28% of the stock of Independent Bank is held by institutions. High institutional ownership can be a signal of strong market trust in this company. Previous Next 1.9 Earnings and Valuation Earnings GrowthEarnings for Independent Bank are expected to decrease by -4.47% in the coming year, from $5.37 to $5.13 per share.Price to Earnings Ratio vs. the MarketThe P/E ratio of Independent Bank is 8.69, which means that it is trading at a less expensive P/E ratio than the market average P/E ratio of about 136.96.Price to Earnings Ratio vs. SectorThe P/E ratio of Independent Bank is 8.69, which means that it is trading at a less expensive P/E ratio than the Finance sector average P/E ratio of about 139.98.Price to Book Value per Share RatioIndependent Bank has a P/B Ratio of 0.82. P/B Ratios below 1 indicate that a company could be undervalued with respect to its assets and liabilities. Previous Next See Top Rated MarketRank™ Stocks Here About Independent Bank (NASDAQ:INDB) StockIndependent Bank Corp. operates as a bank holding company. The company provides commercial banking, retail banking, and wealth management services and is engaged in the sale of retail investments and insurance products in Massachusetts. It offers deposit products, including demand deposits, interest checking, money market accounts, savings accounts, and time certificates of deposit. The company provides real estate loans, which include commercial mortgages that are secured by non-residential properties, residential mortgages that are secured primarily by owner-occupied residences, and mortgages for the construction of commercial and residential properties. Independent Bank was founded in 1985 and is headquartered in Rockland, MA.Read More Receive INDB Stock News and Ratings via Email Sign-up to receive the latest news and ratings for Independent Bank and its competitors with MarketBeat's FREE daily newsletter. Email Address INDB Stock News HeadlinesMay 11, 2023 | americanbankingnews.comInsider Buying: Independent Bank Corp. (NASDAQ:INDB) CEO Buys $100,180.98 in StockMay 4, 2023 | americanbankingnews.comIndependent Bank Corp. (NASDAQ:INDB) CFO Buys $56,290.00 in StockJune 8, 2023 | Behind the Markets (Ad)BREAKING: Tiny biotech successfully treats blindnessThere's a tiny biotech in Cambridge that's using a breakthrough technology to treat blindness. This company has already shown success in human trials... And Our research shows that anyone who gets in today could see a 46,751% return.May 3, 2023 | americanbankingnews.comIndependent Bank Corp. (NASDAQ:INDB) CTO Buys $50,660.00 in StockMay 3, 2023 | americanbankingnews.comIndependent Bank Corp. (NASDAQ:INDB) Sees Significant Decline in Short InterestMay 3, 2023 | americanbankingnews.comScott Smith Sells 1,300 Shares of Independent Bank Corp. (NASDAQ:INDB) StockApril 22, 2023 | finance.yahoo.comQ1 2023 Independent Bank Corp (Massachusetts) Earnings CallApril 21, 2023 | seekingalpha.comIndependent Bank Corp. 2023 Q1 - Results - Earnings Call PresentationJune 8, 2023 | Behind the Markets (Ad)BREAKING: Tiny biotech successfully treats blindnessThere's a tiny biotech in Cambridge that's using a breakthrough technology to treat blindness. This company has already shown success in human trials... And Our research shows that anyone who gets in today could see a 46,751% return.April 21, 2023 | americanbankingnews.comIndependent Bank (NASDAQ:INDB) Trading Up 2.4%April 20, 2023 | finance.yahoo.comIndependent Bank Corp. Reports First Quarter Net Income of $61.2 MillionApril 18, 2023 | americanbankingnews.comIndependent Bank (INDB) to Release Quarterly Earnings on ThursdayApril 14, 2023 | americanbankingnews.comIndependent Bank (NASDAQ:INDB) Reaches New 1-Year Low at $62.29April 10, 2023 | technews.tmcnet.comIndependent Bank Corp.'s Announcement of Date of First Quarter Conference CallApril 10, 2023 | americanbankingnews.comKeefe, Bruyette & Woods Cuts Independent Bank (NASDAQ:INDB) Price Target to $80.00April 7, 2023 | msn.comKeefe, Bruyette & Woods Maintains Independent Bank (INDB) Market Perform RecommendationApril 5, 2023 | americanbankingnews.comColony Bankcorp (NASDAQ:CBAN) and Independent Bank (NASDAQ:INDB) Financial ComparisonApril 2, 2023 | americanbankingnews.comReviewing Pacific Premier Bancorp (NASDAQ:PPBI) & Independent Bank (NASDAQ:INDB)April 1, 2023 | msn.comFirst Citizens leads financial winners by wide margin after SVB deal: Weekly roundupApril 1, 2023 | finance.yahoo.com64% earnings growth over 1 year has not materialized into gains for Independent Bank (NASDAQ:INDB) shareholders over that periodMarch 24, 2023 | seekingalpha.comIndependent Bank Corp.: Attractively Valued With A Positive Earnings OutlookMarch 22, 2023 | americanbankingnews.comIndependent Bank Corp. (INDB) To Go Ex-Dividend on March 24thMarch 19, 2023 | seekingalpha.comIndependent Bank declares $0.55 dividendMarch 15, 2023 | msn.comLeveraging the power of an independent boardMarch 1, 2023 | marketwatch.comIndependent Bank to Pay $100M to Settle Stanford Ponzi LitigationFebruary 22, 2023 | finance.yahoo.comIndependent Bank Corp. (INDB)February 19, 2023 | finance.yahoo.comWith 85% ownership of the shares, Independent Bank Corp. (NASDAQ:INDB) is heavily dominated by institutional ownersSee More Headlines INDB Price History View Price History Chart DataSkip Price History Chart 30 days | 90 days | 365 days | Advanced Chart INDB Company Calendar Last Earnings10/20/2021Ex-Dividend for 4/6 Dividend3/24/2023Dividend Payable4/06/2023Today6/08/2023Next Earnings (Estimated)7/20/2023Fiscal Year End12/31/2023Get Stock AlertsIndustry, Sector and Symbol Stock ExchangeNASDAQ Industry State commercial banks Sub-IndustryRegional Banks SectorFinance Current SymbolNASDAQ:INDB CUSIP45383610 CIK776901 Webwww.rocklandtrust.com Phone(781) 878-6100Fax781-982-6130Employees1,739Year Founded1864Price Target and Rating Average Stock Price Forecast$84.00 High Stock Price Forecast$100.00 Low Stock Price Forecast$72.00 Forecasted Upside/Downside+64.3%Consensus RatingHold Rating Score (0-4)2.00 Research Coverage2 Analysts Profitability EPS (Most Recent Fiscal Year)$5.94 Trailing P/E Ratio8.61 Forward P/E Ratio9.52 P/E GrowthN/ANet Income$263.81 million Net Margins33.75% Pretax Margin44.54% Return on Equity9.54% Return on Assets1.39% Debt Debt-to-Equity Ratio0.35 Current Ratio0.94 Quick Ratio0.94 Sales & Book Value Annual Sales$757.51 million Price / Sales2.98 Cash Flow$6.74 per share Price / Cash Flow7.58 Book Value$63.25 per share Price / Book0.81Miscellaneous Outstanding Shares44,130,000Free Float43,741,000Market Cap$2.26 billion OptionableOptionable Beta0.81 Social Links Key ExecutivesJeffrey J. TengelPresident, Chief Executive Officer & DirectorBarry H. JensenEVP, Chief Operations & Technology OfficerMark J. RuggieroChief Financial OfficerEdward H. SeksayExecutive Vice President & General CounselJonathan NelsonTreasurer & Senior Vice PresidentKey CompetitorsFirst BanCorp.NYSE:FBPCathay General BancorpNASDAQ:CATYAmeris BancorpNASDAQ:ABCBTexas Capital BancsharesNASDAQ:TCBISeacoast Banking Co. of FloridaNASDAQ:SBCFView All CompetitorsInsiders & InstitutionsMacquarie Group Ltd.Bought 19,619 shares on 6/1/2023Ownership: 1.847%ProShare Advisors LLCBought 19,618 shares on 5/26/2023Ownership: 0.287%Brandywine Global Investment Management LLCBought 58,852 shares on 5/25/2023Ownership: 0.133%Toroso Investments LLCBought 4,907 shares on 5/23/2023Ownership: 0.011%Ameriprise Financial Inc.Bought 4,884 shares on 5/22/2023Ownership: 0.963%View All Insider TransactionsView All Institutional Transactions INDB Stock - 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 forecast for 2023? 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. How have INDB shares performed in 2023? 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. Are investors shorting Independent Bank? 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. 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, July 20th 2023. View our INDB earnings forecast. How were Independent Bank's earnings last quarter? 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. How often does Independent Bank pay dividends? What is the dividend yield for Independent Bank? 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. What ETFs hold Independent Bank's stock? 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). 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 4.31%. 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. What other stocks do shareholders of Independent Bank own? 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). 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 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. 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 $51.12. How much money does Independent Bank make? 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. 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 6/8/2023 by MarketBeat.com Staff Adding Choose a watchlist: Watchlist Adding You have already added five stocks to your watchlist. Upgrade to MarketBeat All Access to add more stocks to your watchlist. Adding Independent Bank Corp. 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