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Independent Bank (INDB) Stock Forecast, Price & News

$51.60
-1.76 (-3.30%)
(As of 06/8/2023 ET)
Compare
Today's Range
$50.78
$52.96
50-Day Range
$44.14
$65.62
52-Week Range
$43.28
$91.65
Volume
237,323 shs
Average Volume
262,877 shs
Market Capitalization
$2.28 billion
P/E Ratio
8.69
Dividend Yield
4.26%
Price Target
$84.00

Independent Bank MarketRank™ Forecast

Analyst Rating
Hold
2.00 Rating Score
Upside/​Downside
62.8% Upside
$84.00 Price Target
Short Interest
Healthy
2.47% of Shares Sold Short
Dividend Strength
Strong
Based on Four Factors
Sustainability
N/A
News Sentiment
1.57mentions of Independent Bank in the last 14 days
Based on 2 Articles This Week
Insider Trading
Acquiring Shares
$207,131 Bought Last Quarter
Proj. Earnings Growth
-4.47%
From $5.37 to $5.13 Per Share

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 stars

Finance Sector

22nd out of 861 stocks

State Commercial Banks Industry

10th out of 177 stocks


INDB stock logo

About Independent Bank (NASDAQ:INDB) Stock

Independent 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.

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INDB Stock News Headlines

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There'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.
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There'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.
Independent Bank (NASDAQ:INDB) Trading Up 2.4%
Independent Bank (NASDAQ:INDB) Reaches New 1-Year Low at $62.29
Independent Bank Corp. (INDB) To Go Ex-Dividend on March 24th
Independent Bank declares $0.55 dividend
Independent Bank Corp. (INDB)
See More Headlines

INDB Price History

INDB Company Calendar

Last Earnings
10/20/2021
Ex-Dividend for 4/6 Dividend
3/24/2023
Dividend Payable
4/06/2023
Today
6/08/2023
Next Earnings (Estimated)
7/20/2023
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
+64.3%
Consensus Rating
Hold
Rating Score (0-4)
2.00
Research Coverage
2 Analysts

Profitability

Net Income
$263.81 million
Pretax Margin
44.54%

Debt

Sales & Book Value

Annual Sales
$757.51 million
Cash Flow
$6.74 per share
Book Value
$63.25 per share

Miscellaneous

Free Float
43,741,000
Market Cap
$2.26 billion
Optionable
Optionable
Beta
0.81

Social Links


Key Executives

  • Jeffrey J. Tengel
    President, Chief Executive Officer & Director
  • Barry H. Jensen
    EVP, Chief Operations & Technology Officer
  • Mark J. Ruggiero
    Chief Financial Officer
  • Edward H. SeksayEdward H. Seksay
    Executive Vice President & General Counsel
  • Jonathan Nelson
    Treasurer & Senior Vice President













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
.

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?
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

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