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Independent Bank Stock Forecast, Price & News

+3.18 (+6.08 %)
(As of 10/22/2020 12:00 AM ET)
Today's Range
Now: $55.52
50-Day Range
MA: $54.74
52-Week Range
Now: $55.52
Volume404,559 shs
Average Volume174,415 shs
Market Capitalization$1.83 billion
P/E Ratio12.53
Dividend Yield3.52%
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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Beat the Market (BTM) Rank

Analyst Opinion: 3.0Community Rank: 2.0Dividend Strength: 3.3Insider Behavior: 1.0Valuation: 1.9 5 -4 -3 -2 -1 -

Overall Beat the Market Rank

2.24 out of 5 stars

Industry, Sector and Symbol

Industry State commercial banks
Sub-IndustryRegional Banks
Current SymbolNASDAQ:INDB



Sales & Book Value

Annual Sales$562.31 million
Cash Flow$6.22 per share
Book Value$49.69 per share


Net Income$165.18 million


Market Cap$1.83 billion
Next Earnings Date10/23/2020 (Confirmed)
+3.18 (+6.08 %)
(As of 10/22/2020 12:00 AM ET)
30 days | 90 days | 365 days | Advanced Chart

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Independent Bank (NASDAQ:INDB) Frequently Asked Questions

How has Independent Bank's stock been impacted by Coronavirus?

Independent Bank's stock was trading at $59.36 on March 11th, 2020 when Coronavirus reached pandemic status according to the World Health Organization. Since then, INDB stock has decreased by 6.5% and is now trading at $55.52.
View which stocks have been most impacted by COVID-19

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 5 hold 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 Friday, October 23rd 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 results on Thursday, July, 23rd. The bank reported $0.76 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.62 by $0.14. The bank earned $119.29 million during the quarter, compared to the consensus estimate of $124.80 million. Independent Bank had a return on equity of 8.95% and a net margin of 26.94%.
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, September 17th. Shareholders of record on Monday, September 28th will be given a dividend of $0.46 per share on Friday, October 9th. This represents a $1.84 annualized dividend and a dividend yield of 3.31%. The ex-dividend date is Friday, September 25th.
View Independent Bank's dividend history

What price target have analysts set for INDB?

5 brokerages have issued twelve-month target prices for Independent Bank's stock. Their forecasts range from $58.00 to $98.00. On average, they anticipate Independent Bank's stock price to reach $78.50 in the next year. This suggests a possible upside of 41.4% from the stock's current price.
View analysts' price targets for Independent Bank

Are investors shorting Independent Bank?

Independent Bank saw a drop in short interest during the month of September. As of September 30th, there was short interest totaling 732,800 shares, a drop of 19.7% from the September 15th total of 912,200 shares. Based on an average trading volume of 127,500 shares, the days-to-cover ratio is presently 5.7 days. Approximately 2.3% of the company's stock are sold short.
View Independent Bank's Short Interest

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 many different institutional and retail investors. Top institutional investors include Rockland Trust Co. (2.17%), Boston Trust Walden Corp (0.46%), Hennessy Advisors Inc. (0.13%), State of Alaska Department of Revenue (0.09%), Aries Wealth Management (0.07%) and Louisiana State Employees Retirement System (0.05%). Company insiders that own Independent Bank stock 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 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 New England Research & Management Inc., Aries Wealth Management, and State of Alaska Department of Revenue. 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, 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 Rockland Trust Co., Louisiana State Employees Retirement System, Boston Trust Walden Corp, and Hennessy Advisors Inc..
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 $55.52.

How big of a company is Independent Bank?

Independent Bank has a market capitalization of $1.83 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.

What is Independent Bank's official website?

The official website for Independent Bank is www.rocklandtrust.com.

How can I contact Independent Bank?

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

This page was last updated on 10/23/2020 by MarketBeat.com Staff

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