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S&P 500   5,011.12
DOW   37,775.38
QQQ   423.41
What's Driving Tesla Lower Ahead of its Earnings?
Stock market today: Wall Street drifts to a mixed finish as yields tick higher
How major US stock indexes fared Thursday, 4/18/2024
3 Steel Stocks Could Soar on New China Tariffs
CSX Co.: The Railroad Powering Ahead with an Earnings Beat
These are the Top 4 Stocks for Buybacks in 2024
'There is no time to waste': EU leaders want to boost competitiveness to close gap with US and China
S&P 500   5,011.12
DOW   37,775.38
QQQ   423.41
What's Driving Tesla Lower Ahead of its Earnings?
Stock market today: Wall Street drifts to a mixed finish as yields tick higher
How major US stock indexes fared Thursday, 4/18/2024
3 Steel Stocks Could Soar on New China Tariffs
CSX Co.: The Railroad Powering Ahead with an Earnings Beat
These are the Top 4 Stocks for Buybacks in 2024
'There is no time to waste': EU leaders want to boost competitiveness to close gap with US and China
S&P 500   5,011.12
DOW   37,775.38
QQQ   423.41
What's Driving Tesla Lower Ahead of its Earnings?
Stock market today: Wall Street drifts to a mixed finish as yields tick higher
How major US stock indexes fared Thursday, 4/18/2024
3 Steel Stocks Could Soar on New China Tariffs
CSX Co.: The Railroad Powering Ahead with an Earnings Beat
These are the Top 4 Stocks for Buybacks in 2024
'There is no time to waste': EU leaders want to boost competitiveness to close gap with US and China
NASDAQ:INDB

Independent Bank (INDB) Stock Price, News & Analysis

$49.45
+0.92 (+1.90%)
(As of 04/18/2024 ET)
Today's Range
$48.59
$49.61
50-Day Range
$47.49
$54.29
52-Week Range
$43.28
$68.75
Volume
224,676 shs
Average Volume
290,030 shs
Market Capitalization
$2.10 billion
P/E Ratio
9.12
Dividend Yield
4.61%
Price Target
$64.00

Independent Bank MarketRank™ Stock Analysis

Analyst Rating
Hold
2.00 Rating Score
Upside/​Downside
29.4% Upside
$64.00 Price Target
Short Interest
Healthy
1.70% 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
Selling Shares
$66,784 Sold Last Quarter
Proj. Earnings Growth
5.68%
From $4.58 to $4.84 Per Share

Overall MarketRank

New Rank-Based ScoringMarketRank is calculated by averaging available category scores (with extra weight given to analysis and valuation), then ranking the company's weighted average against that of other companies.

4.55 out of 5 stars

Finance Sector

168th out of 822 stocks

State Commercial Banks Industry

43rd out of 172 stocks

INDB stock logo

About Independent Bank Stock (NASDAQ:INDB)

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 in the United States. The company provides interest checking, money market, and savings accounts, as well as demand deposits and time certificates of deposit. It offers commercial real estate and construction, commercial and industrial, small business, secured and unsecured commercial, and consumer real estate loans; term loans and revolving/nonrevolving lines of credit; overdraft protection and letters of credit; and residential mortgages and home equity loans and lines. In addition, the company provides cash management services, such as ACH transaction processing, positive pay, and remote deposit services; investment management and trust services to individuals, institutions, small businesses, and charitable institutions; mobile, online, and telephone banking; estate settlement, financial planning, tax services, and other services; automated teller machines; debit and credit cards; and mutual fund and unit investment trust shares, third party model portfolios, general securities, fixed and variable annuities, and life insurance products, as well as advisory platforms. Further, it invests in low-income housing tax credit projects; holds, maintains, and disposes foreclosed properties; and operates as an investment advisor. Independent Bank Corp. was founded in 1907 and is headquartered in Rockland, Massachusetts.

INDB Stock Price History

INDB Stock News Headlines

A.I. Pioneer Issues Urgent Warning to Americans
With artificial intelligence creeping into every facet of our lives, what should you be doing to "A.I.-Proof" your future? It's the question on many of our minds.
Here's what to expect from Independent Bank's earnings report
Independent Bank Corp. (NASDAQ:INDB) Short Interest Update
A.I. Pioneer Issues Urgent Warning to Americans
With artificial intelligence creeping into every facet of our lives, what should you be doing to "A.I.-Proof" your future? It's the question on many of our minds.
INDB Mar 2024 55.000 put
Independent Bank Corp.
Independent Bank: Q4 Earnings Insights
See More Headlines
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Company Calendar

Last Earnings
10/20/2021
Ex-Dividend for 4/5 Dividend
3/28/2024
Dividend Payable
4/05/2024
Today
4/18/2024
Next Earnings (Confirmed)
4/18/2024
Fiscal Year End
12/31/2024

Industry, Sector and Symbol

Sector
Finance
Industry
State commercial banks
Sub-Industry
Regional Banks
Current Symbol
NASDAQ:INDB
CUSIP
45383610
Employees
1,787
Year Founded
1864

Price Target and Rating

Average Stock Price Target
$64.00
High Stock Price Target
$64.00
Low Stock Price Target
$64.00
Potential Upside/Downside
+29.4%
Consensus Rating
Hold
Rating Score (0-4)
2.00
Research Coverage
2 Analysts

Profitability

Net Income
$239.50 million
Pretax Margin
34.24%

Debt

Sales & Book Value

Annual Sales
$920.34 million
Cash Flow
$6.42 per share
Book Value
$66.02 per share

Miscellaneous

Free Float
42,084,000
Market Cap
$2.10 billion
Optionable
Optionable
Beta
0.83

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Key Executives

  • Mr. Mark J. Ruggiero (Age 47)
    Chief Financial Officer
    Comp: $928.76k
  • Mr. Jeffrey J. Tengel (Age 61)
    President, CEO & Director
  • Mr. David Byron Smith C.F.A.
    Executive VP & Chief Investment Officer
  • Ms. Maureen A. Gaffney (Age 45)
    Senior VP, Controller & Principal Accounting Officer
  • Ms. Patricia M. Natale Esq. (Age 58)
    Executive VP & General Counsel
  • Mr. Alastair Ironside
    Executive VP & Chief Marketing Officer
  • Timothy C. Lane
    Senior VP & Chief Internal Auditor
  • Ms. Dawn A. Mugford (Age 53)
    Executive VP & Chief Risk Officer
  • Ms. Margaret McCarthy
    Executive VP & Chief Retail Banking Officer
  • Mr. Jonathan Nelson
    Treasurer

INDB Stock Analysis - 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 twelve months. 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 target for 2024?

2 equities research analysts have issued 12 month target prices for Independent Bank's shares. Their INDB share price targets range from $64.00 to $64.00. On average, they expect the company's stock price to reach $64.00 in the next year. This suggests a possible upside of 29.4% 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 2024?

Independent Bank's stock was trading at $65.81 on January 1st, 2024. Since then, INDB shares have decreased by 24.9% and is now trading at $49.45.
View the best growth stocks for 2024 here
.

Are investors shorting Independent Bank?

Independent Bank saw a decrease in short interest in the month of March. As of March 31st, there was short interest totaling 721,200 shares, a decrease of 10.8% from the March 15th total of 808,100 shares. Based on an average daily volume of 295,800 shares, the short-interest ratio is presently 2.4 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, April 18th 2024.
View our INDB earnings forecast
.

How can I listen to Independent Bank's earnings call?

Independent Bank will be holding an earnings conference call on Friday, April 19th at 10:00 AM Eastern. Interested parties can register for or listen to the call using this link or dial in at 877-344-7529 with passcode "5035315".

How were Independent Bank's earnings last quarter?

Independent Bank Corp. (NASDAQ:INDB) issued its quarterly earnings data on Wednesday, October, 20th. The bank reported $1.21 EPS for the quarter, topping the consensus estimate of $1.02 by $0.19. The bank earned $116.55 million during the quarter, compared to analysts' expectations of $117.97 million. Independent Bank had a trailing twelve-month return on equity of 8.35% and a net margin of 26.02%. During the same period last year, the company earned $1.07 EPS.

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

Independent Bank announced a quarterly dividend on Thursday, March 21st. Stockholders of record on Monday, April 1st will be given a dividend of $0.57 per share on Friday, April 5th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 4.61%. The ex-dividend date of this dividend is Thursday, March 28th. This is a boost from the stock's previous quarterly dividend of $0.55.
Read our dividend analysis for INDB
.

Is Independent Bank a good dividend stock?

Independent Bank (NASDAQ:INDB) pays an annual dividend of $2.28 per share and currently has a dividend yield of 4.70%. INDB has a dividend yield higher than 75% of all dividend-paying stocks, making it a leading dividend payer. The company does not yet have a strong track record of dividend growth. The dividend payout ratio is 42.07%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, INDB will have a dividend payout ratio of 47.11% 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?
Who are Independent Bank's major shareholders?

Independent Bank's stock is owned by a variety of institutional and retail investors. Top institutional shareholders include Rockland Trust Co. (1.52%) and Diversified Trust Co (0.01%). 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.
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 Charles Schwab, E*TRADE, Fidelity, and Vanguard Brokerage Services.
Compare Top Brokerages Here.

This page (NASDAQ:INDB) was last updated on 4/18/2024 by MarketBeat.com Staff

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