NASDAQ:INDB Independent Bank (INDB) Stock Forecast, Price & News $48.89 +0.54 (+1.12%) (As of 09/28/2023 ET) Add Compare Share Share Today's Range$48.18▼$49.3350-Day Range$48.19▼$61.0752-Week Range$43.28▼$91.65Volume279,084 shsAverage Volume259,594 shsMarket Capitalization$2.16 billionP/E Ratio8.09Dividend Yield4.50%Price Target$84.00 ProfileProfileAnalyst RatingsChartCompetitorsDividendEarningsFinancialsInsider TradesInstitutional OwnershipHeadlinesOptions ChainSEC FilingsShort InterestSocial MediaProfileAnalyst RatingsChartCompetitorsDividendEarningsFinancialsInsider TradesInstitutional OwnershipHeadlinesOptions ChainSEC FilingsShort InterestSocial Media Independent Bank MarketRank™ ForecastAnalyst RatingReduce1.67 Rating ScoreUpside/Downside71.8% Upside$84.00 Price TargetShort InterestHealthy2.10% of Shares Sold ShortDividend StrengthStrongBased on Four FactorsSustainabilityN/ANews Sentiment0.81Based on 6 Articles This WeekInsider TradingN/AProj. Earnings Growth-9.93%From $5.34 to $4.81 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.2.79 out of 5 starsFinance Sector193rd out of 877 stocksState Commercial Banks Industry54th out of 186 stocks 2.8 Analyst's Opinion Consensus RatingIndependent Bank has received a consensus rating of Reduce. The company's average rating score is 1.67, and is based on no buy ratings, 2 hold ratings, and 1 sell rating.Price Target Upside/DownsideAccording to analysts' consensus price target of $84.00, Independent Bank has a forecasted upside of 71.8% from its current price of $48.89.Amount of Analyst CoverageIndependent Bank has only been the subject of 1 research reports in the past 90 days. Previous Next 3.0 Short Interest Percentage of Shares Shorted2.10% 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 3.8, which is generally considered an acceptable ratio of short interest to trading volume.Change versus previous monthShort interest in Independent Bank has recently increased by 17.15%, indicating that investor sentiment is decreasing significantly. Previous Next 5.0 Dividend Strength Dividend LeadershipIndependent Bank is a leading dividend payer. It pays a dividend yield of 4.52%, 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 36.42%. 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 45.74% 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 3.2 News and Social Media Coverage News SentimentIndependent Bank has a news sentiment score of 0.81. 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 0.68 average news sentiment score of Finance companies.News Coverage This WeekMarketBeat has tracked 6 news articles for Independent Bank this week, compared to 2 articles on an average week.MarketBeat Follows1 people have added Independent Bank to their MarketBeat watchlist in the last 30 days. Previous Next 1.7 Company Ownership Insider Buying vs. Insider SellingIn the past three months, Independent Bank insiders have not sold or bought any company stock.Percentage Held by InsidersOnly 0.87% of the stock of Independent Bank is held by insiders.Percentage Held by Institutions80.16% 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 -9.93% in the coming year, from $5.34 to $4.81 per share.Price to Earnings Ratio vs. the MarketThe P/E ratio of Independent Bank is 8.09, which means that it is trading at a less expensive P/E ratio than the market average P/E ratio of about 120.89.Price to Earnings Ratio vs. SectorThe P/E ratio of Independent Bank is 8.09, which means that it is trading at a less expensive P/E ratio than the Finance sector average P/E ratio of about 75.51.Price to Book Value per Share RatioIndependent Bank has a P/B Ratio of 0.77. 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 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.Read More INDB Price History View Price History Chart DataSkip Price History Chart 30 days | 90 days | 365 days | Advanced Chart INDB Stock News HeadlinesSeptember 28, 2023 | msn.comIndependent Bank robbed in Midtown, police searching for suspectsSeptember 24, 2023 | msn.comIndependent Bank (INDB) Declares $0.55 DividendSeptember 28, 2023 | Tradewins (Ad)Successful Options Trading Begins With…Options trading expert Wendy Kirkland’s free guide reveals the options trading principles that are as easy to implement as they are to learn and how using them could earn you thousands in extra income each month! September 18, 2023 | finance.yahoo.comRockland Trust names Lee Powlus as new executive to lead tech expansionSeptember 13, 2023 | msn.comSeaport Global Initiates Coverage of Independent Bank (INDB) with Sell RecommendationSeptember 10, 2023 | msn.comStandard Bank pushes to close Indy’s banking accounts despite editors’ pleaSeptember 8, 2023 | finance.yahoo.com2.0% earnings growth over 5 years has not materialized into gains for Independent Bank (NASDAQ:INDB) shareholders over that periodSeptember 5, 2023 | msn.comIDBI Bank shares extend gains, jump 10% today to hit one-year high; here's what tech analysts saySeptember 28, 2023 | Tradewins (Ad)Successful Options Trading Begins With…Options trading expert Wendy Kirkland’s free guide reveals the options trading principles that are as easy to implement as they are to learn and how using them could earn you thousands in extra income each month! August 30, 2023 | finance.yahoo.comIndependent Bank Corp. CEO Jeffrey Tengel and CFO Mark J. Ruggiero to Participate in the 2023 Raymond James U.S. Bank and Banking on Tech ConferencesAugust 24, 2023 | finance.yahoo.comINDB: Lowering target price to $56.00July 29, 2023 | finance.yahoo.comFollowing a 26% decline over last year, recent gains may please Independent Bank Corp. (NASDAQ:INDB) institutional ownersJuly 23, 2023 | seekingalpha.comIndependent Bank's Q2: Strong Returns And Emerging ConcernsJuly 22, 2023 | finance.yahoo.comQ2 2023 Independent Bank Corp (Massachusetts) Earnings CallJuly 21, 2023 | markets.businessinsider.comPiper Sandler Sticks to Their Hold Rating for Independent Bank (INDB)July 21, 2023 | msn.comIndependent Bank Corp. (INDB) Q2 Earnings: Taking a Look at Key Metrics Versus EstimatesJuly 20, 2023 | finance.yahoo.comIndependent Bank Corp. Reports Second Quarter Net Income of $62.6 MillionJuly 20, 2023 | finance.yahoo.comIndependent Bank Corp. (INDB) Q2 Earnings Surpass EstimatesJuly 13, 2023 | finance.yahoo.comIndependent Bank Corp. (INDB) Earnings Expected to Grow: What to Know Ahead of Next Week's ReleaseJuly 6, 2023 | msn.comIndependent Bank (INDB) Price Target Decreased by 7.52% to 62.73June 20, 2023 | msn.comIndependent Bank's Ex-Dividend Date Is Friday, Here's What You Need To KnowApril 22, 2023 | finance.yahoo.comQ1 2023 Independent Bank Corp (Massachusetts) Earnings CallApril 21, 2023 | seekingalpha.comIndependent Bank Corp. 2023 Q1 - Results - Earnings Call PresentationApril 20, 2023 | finance.yahoo.comIndependent Bank Corp. Reports First Quarter Net Income of $61.2 MillionApril 10, 2023 | technews.tmcnet.comIndependent Bank Corp.'s Announcement of Date of First Quarter Conference CallApril 7, 2023 | msn.comKeefe, Bruyette & Woods Maintains Independent Bank (INDB) Market Perform RecommendationApril 1, 2023 | msn.comFirst Citizens leads financial winners by wide margin after SVB deal: Weekly roundupSee More Headlines 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 Company Calendar Ex-Dividend for 7/7 Dividend6/23/2023Dividend Payable7/07/2023Last Earnings7/20/2023Today9/28/2023Ex-Dividend for 10/6 Dividend9/29/2023Dividend Payable10/06/2023Next Earnings (Estimated)10/19/2023Fiscal 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+71.8%Consensus RatingReduce Rating Score (0-4)1.67 Research Coverage3 Analysts Profitability EPS (Most Recent Fiscal Year)$6.04 Trailing P/E Ratio8.09 Forward P/E Ratio9.16 P/E GrowthN/ANet Income$263.81 million Net Margins31.75% Pretax Margin41.83% Return on Equity9.58% Return on Assets1.40% Debt Debt-to-Equity Ratio0.32 Current Ratio0.94 Quick Ratio0.94 Sales & Book Value Annual Sales$757.51 million Price / Sales2.85 Cash Flow$6.77 per share Price / Cash Flow7.22 Book Value$63.25 per share Price / Book0.77Miscellaneous Outstanding Shares44,130,000Free Float43,751,000Market Cap$2.16 billion OptionableOptionable Beta0.84 Social Links 13 Stocks Institutional Investors Won't Stop BuyingWhich stocks are major institutional investors including hedge funds and endowments buying in today's market? Click the link below and we'll send you MarketBeat's list of thirteen stocks that institutional investors are buying up as quickly as they can.Get This Free Report Key ExecutivesMr. Mark J. Ruggiero (Age 46)CFO & Exec. VP of Consumer Lending Comp: $928.76kMr. 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 IronsideExec. VP & Chief Marketing OfficerMs. Maria S. Harris (Age 52)Exec. VP & Chief Human Resource Officer Ms. Debra SmithSr. VP & Director of Banking & Digital Operations - Rockland Trust CompanyMr. David Byron Smith C.F.A.CFA, EVP, MD, Chief Investment Officer & Sr. Portfolio Mang.Timothy C. LaneSr. VP & Chief Internal AuditorMs. Dawn A. MugfordExec. VP & Chief Risk OfficerMore ExecutivesKey CompetitorsCVB FinancialNASDAQ:CVBFFirst BanCorp.NYSE:FBPBank of HawaiiNYSE:BOHSeacoast Banking Co. of FloridaNASDAQ:SBCFCathay General BancorpNASDAQ:CATYView All CompetitorsInsiders & InstitutionsBarclays PLCBought 36,510 shares on 9/21/2023Ownership: 0.185%Comerica BankBought 18,526 shares on 8/22/2023Ownership: 0.042%California State Teachers Retirement SystemSold 4,789 shares on 8/21/2023Ownership: 0.119%Teachers Retirement System of The State of KentuckyBought 806 shares on 8/21/2023Ownership: 0.034%Osaic Holdings Inc.Sold 3,023 shares on 8/21/2023Ownership: 0.012%View All Insider TransactionsView All Institutional Transactions 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. 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), 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). 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? 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 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 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. Please log in to your account or sign up in order to add this asset to your watchlist. 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