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NASDAQ:INDB - Independent Bank Stock Price, Forecast & News

$62.80
-2.05 (-3.16 %)
(As of 03/29/2020 04:00 PM ET)
Today's Range
$58.84
Now: $62.80
$65.11
50-Day Range
$52.37
MA: $67.76
$77.51
52-Week Range
$50.45
Now: $62.80
$87.64
Volume301,373 shs
Average Volume310,492 shs
Market Capitalization$2.16 billion
P/E Ratio12.49
Dividend Yield2.71%
Beta1.11
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 primarily in Massachusetts. Its products and services include demand deposits and time certificates of deposit, as well as checking, money market, and savings accounts. The company's loan portfolio includes commercial loans, such as commercial and industrial, asset-based, commercial real estate, commercial construction, and small business loans; consumer real estate loans, including residential mortgages, home equity loans, and loans for the construction of residential properties; and other consumer loans, such as personal loans. Its commercial and industrial loans cover loans for working capital, other business-related purposes, and floor plan financing; asset-based loans consist primarily of revolving lines of credit and term loans; commercial real estate loans include commercial mortgages for construction purposes that are secured by nonresidential properties, multifamily properties, or one-to-four family rental properties; and small business loans comprise businesses with commercial credit needs. The company also provides investment management and trust services to individuals, institutions, small businesses, and charitable institutions; Internet and mobile banking services, as well as automated teller machine cards and debit cards; and mutual fund shares, unit investment trust shares, general securities, fixed and variable annuities, and life insurance. It operates through 87 full service and 2 limited service retail branches, 13 commercial banking centers, 8 investment management offices, and 1 mortgage lending center in Eastern Massachusetts; and an investment management group/commercial lending office in Rhode Island. The company was founded in 1907 and is headquartered in Rockland, Massachusetts.
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Independent Bank logo

Industry, Sector and Symbol

Industry State commercial banks
Sub-IndustryRegional Banks
SectorFinance
Current SymbolNASDAQ:INDB
CUSIP45383610
Phone781-878-6100

Debt

Price-To-Earnings

Sales & Book Value

Annual Sales$562.31 million
Cash Flow$5.75 per share
Book Value$49.69 per share

Profitability

Net Income$165.18 million

Miscellaneous

Employees1,348
Market Cap$2.16 billion
Next Earnings Date4/16/2020 (Estimated)
OptionableOptionable

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Independent Bank (NASDAQ:INDB) Frequently Asked Questions

How has Independent Bank's stock been impacted by COVID-19 (Coronavirus)?

Independent Bank's stock was trading at $59.36 on March 11th, 2020 when Coronavirus (COVID-19) reached pandemic status according to the World Health Organization. Since then, INDB stock has increased by 5.8% and is now trading at $62.80. View which stocks have been mosted impacted by Coronavirus.

Do Wall Street analysts recommend investors buy shares of Independent Bank?

5 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Independent Bank in the last year. There are currently 3 hold ratings and 2 buy ratings for the stock, resulting in a consensus recommendation of "Hold." View analyst ratings for Independent Bank.

When is Independent Bank's next earnings date?

Independent Bank is scheduled to release its next quarterly earnings announcement on Thursday, April 16th 2020. View our earnings forecast for Independent Bank.

How were Independent Bank's earnings last quarter?

Independent Bank Corp (NASDAQ:INDB) issued its quarterly earnings data on Thursday, January, 16th. The bank reported $1.38 earnings per share for the quarter, missing the Thomson Reuters' consensus estimate of $1.40 by $0.02. The bank earned $133.29 million during the quarter, compared to analyst estimates of $131.07 million. Independent Bank had a net margin of 29.37% and a return on equity of 12.05%. View Independent Bank's earnings history.

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

Independent Bank declared a quarterly dividend on Thursday, March 19th. Stockholders of record on Monday, March 30th will be given a dividend of $0.46 per share on Thursday, April 9th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.93%. The ex-dividend date of this dividend is Friday, March 27th. This is a positive change from Independent Bank's previous quarterly dividend of $0.44. View Independent Bank's dividend history.

What price target have analysts set for INDB?

5 brokerages have issued twelve-month price targets for Independent Bank's shares. Their forecasts range from $68.00 to $98.00. On average, they expect Independent Bank's share price to reach $80.67 in the next year. This suggests a possible upside of 28.5% from the stock's current price. View analysts' price targets for Independent Bank.

Has Independent Bank been receiving favorable news coverage?

Press coverage about INDB stock has been trending extremely negative recently, InfoTrie reports. The research firm scores the sentiment of media coverage by reviewing more than six thousand blog and news sources. The firm ranks coverage of publicly-traded companies on a scale of negative five to positive five, with scores closest to five being the most favorable. Independent Bank earned a coverage optimism score of -4.0 on InfoTrie's scale. They also assigned news headlines about the bank a news buzz of 10.0 out of 10, indicating that recent media coverage is extremely likely to have an effect on the stock's share price in the near future. View the latest news aboutIndependent Bank.

Are investors shorting Independent Bank?

Independent Bank saw a increase in short interest during the month of March. As of March 13th, there was short interest totaling 1,085,500 shares, an increase of 26.5% from the February 27th total of 858,400 shares. Based on an average daily volume of 200,200 shares, the days-to-cover ratio is currently 5.4 days. Approximately 3.2% of the company's shares are sold short. View Independent Bank's Current Options Chain.

Who are some of Independent Bank's key competitors?

What other stocks do shareholders of Independent Bank own?

Who are Independent Bank's key executives?

Independent Bank's management team includes the following people:
  • Mr. Christopher Oddleifson, CEO, Pres & Director (Age 60)
  • Mr. Robert D. Cozzone, Exec. VP & COO (Age 48)
  • Mr. Barry H. Jensen, Chief Technology Officer (Age 54)
  • Mr. Edward H. Seksay Esq., Gen. Counsel & Corp. Sec. (Age 61)
  • Mr. Gerard F. Nadeau, Director (Age 61)

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 variety of institutional and retail investors. Top institutional investors include Champlain Investment Partners LLC (3.56%), State Street Corp (3.40%), Goldman Sachs Group Inc. (3.08%), Victory Capital Management Inc. (2.98%), Victory Capital Management Inc. (2.87%) and Rockland Trust Co. (2.07%). Company insiders that own Independent Bank stock include Carl Ribeiro, Christopher Oddleifson, Daniel F Obrien, Donna L Abelli, Edward H Seksay, Eileen C Miskell, Gerard F Nadeau, Kevin J Jones, Mark J Ruggiero, Robert D Cozzone, Thomas R Venables and William M Parent. View institutional ownership trends for Independent Bank.

Which major investors are selling Independent Bank stock?

INDB stock was sold by a variety of institutional investors in the last quarter, including FMR LLC, Bank of America Corp DE, Nuveen Asset Management LLC, Arizona State Retirement System, Principal Financial Group Inc., Goldman Sachs Group Inc., Citigroup Inc., and First Trust Advisors LP. Company insiders that have sold Independent Bank company stock in the last year include Christopher Oddleifson, Daniel F Obrien, Donna L Abelli, Gerard F Nadeau, Kevin J Jones, Mark J Ruggiero, Robert D Cozzone, Thomas R Venables, and William M Parent. View insider buying and selling activity for Independent Bank.

Which major investors are buying Independent Bank stock?

INDB stock was bought by a variety of institutional investors in the last quarter, including Norges Bank, Moors & Cabot Inc., Victory Capital Management Inc., Eaton Vance Management, Victory Capital Management Inc., Champlain Investment Partners LLC, Macquarie Group Ltd., and Macquarie Group Ltd.. View insider buying and selling activity for Independent Bank.

How do I buy shares of Independent Bank?

Shares of INDB can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab.

What is Independent Bank's stock price today?

One share of INDB stock can currently be purchased for approximately $62.80.

How big of a company is Independent Bank?

Independent Bank has a market capitalization of $2.16 billion and generates $562.31 million in revenue each year. The bank earns $165.18 million in net income (profit) each year or $5.62 on an earnings per share basis. Independent Bank employs 1,348 workers across the globe. View additional information about Independent Bank.

What is Independent Bank's official website?

The official website for Independent Bank is http://www.rocklandtrust.com/.

How can I contact Independent Bank?

Independent Bank's mailing address is 2036 WASHINGTON STEET, ROCKLAND MA, 02370. The bank can be reached via phone at 781-878-6100 or via email at [email protected]


MarketBeat Community Rating for Independent Bank (NASDAQ INDB)

Community Ranking:  2.0 out of 5 (star star)
Outperform Votes:  371 (Thanks for Voting!)
Underperform Votes:  540 (Thanks for Voting!)
Total Votes:  911
MarketBeat's community ratings are surveys of what our community members think about Independent Bank and other stocks. Vote "Outperform" if you believe INDB will outperform the S&P 500 over the long term. Vote "Underperform" if you believe INDB will underperform the S&P 500 over the long term. You may vote once every thirty days.
This page was last updated on 3/29/2020 by MarketBeat.com Staff

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