About Independent Bank (NASDAQ:INDB)
-logo.jpg "Independent Bank logo")
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. The company's products and services include demand deposits and time certificates of deposit, as well as checking, money market, and savings accounts. Its 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. The company's 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. It 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. The company operates through 84 full service and 2 limited service retail branches, 13 commercial banking centers, 6 investment management offices, and 1 mortgage lending center in Eastern Massachusetts; and an investment management group/commercial lending office in Rhode Island. Independent Bank Corp. was founded in 1907 and is headquartered in Rockland, Massachusetts.
Industry, Sector and Symbol
Industry State commercial banks
Sub-IndustryRegional Banks
SectorFinance
SymbolNASDAQ:INDB
CUSIP45383610
Phone781-878-6100
Debt
Debt-to-Equity Ratio0.17%
Current Ratio0.95%
Quick Ratio0.94%
Price-To-Earnings
Trailing P/E Ratio21.64
Forward P/E Ratio16.87
P/E GrowthN/A
Sales & Book Value
Annual Sales$360.19 million
Price / Sales5.64
Cash Flow$3.9774 per share
Price / Cash18.58
Book Value$34.39 per share
Price / Book2.15
Profitability
EPS (Most Recent Fiscal Year)$3.35
Net Income$87.20 million
Net Margins24.21%
Return on Equity10.00%
Return on Assets1.15%
Miscellaneous
Employees1,108
Outstanding Shares27,510,000
Independent Bank (NASDAQ:INDB) Frequently Asked Questions
What is Independent Bank's stock symbol?
Independent Bank trades on the NASDAQ under the ticker symbol "INDB."
How often does Independent Bank pay dividends? What is the dividend yield for Independent Bank?
Independent Bank announced a quarterly dividend on Friday, March 16th. Stockholders of record on Monday, March 26th will be paid a dividend of $0.38 per share on Friday, April 6th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.06%. The ex-dividend date of this dividend is Friday, March 23rd. This is an increase from Independent Bank's previous quarterly dividend of $0.32. View Independent Bank's Dividend History.
How were Independent Bank's earnings last quarter?
Independent Bank Corp. (NASDAQ:INDB) issued its earnings results on Thursday, January, 18th. The bank reported $0.89 earnings per share (EPS) for the quarter, meeting the Zacks' consensus estimate of $0.89. The bank had revenue of $89.70 million for the quarter, compared to analysts' expectations of $88.31 million. Independent Bank had a return on equity of 10.00% and a net margin of 24.21%. The company's quarterly revenue was up 17.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.76 EPS. View Independent Bank's Earnings History.
When is Independent Bank's next earnings date?
What price target have analysts set for INDB?
4 Wall Street analysts have issued 12 month price targets for Independent Bank's stock. Their forecasts range from $63.00 to $76.00. On average, they anticipate Independent Bank's stock price to reach $70.6667 in the next year. View Analyst Ratings for Independent Bank.
Who are some of Independent Bank's key competitors?
Some companies that are related to Independent Bank include Chemical Bank (CHFC), First Hawaiian Bank (FHB), Home Bancshares (HOMB), Associated Banc (ASB), United Bankshares (UBSI), Bank of Hawaii (BOH), Glacier Bancorp (GBCI), First Financial Bankshares (FFIN), Cathay General Bancorp (CATY), Columbia Banking System (COLB), South State Bank (SSB), BancorpSouth Bank (BXS), International Bancshares (IBOC), United Community Bank (UCBI), CVB Financial (CVBF), Union Bankshares (UBSH), Great Western Bancorp (GWB) and ServisFirst Bancshares (SFBS).
Who are Independent Bank's key executives?
Independent Bank's management team includes the folowing people:
- Mr. Christopher Oddleifson, CEO, Pres & Director (Age 59)
- Mr. Robert D. Cozzone, Exec. VP of Consumer & Bus. Banking & CFO (Age 47)
- Mr. Barry H. Jensen, Chief Information Officer & Sr. VP (Age 53)
- Mr. Edward H. Seksay, Gen. Counsel & Corp. Sec. (Age 60)
- Ms. Pamela Lolley Frey, EVP of Consumer & Bus. Banking and EVP of Consumer & Bus. Banking - Rockland Trust Company
Has Independent Bank been receiving favorable news coverage?
Headlines about INDB stock have been trending somewhat positive recently, according to Accern. Accern identifies negative and positive news coverage by reviewing more than twenty million news and blog sources in real-time. Accern ranks coverage of publicly-traded companies on a scale of negative one to one, with scores closest to one being the most favorable. Independent Bank earned a media sentiment score of 0.24 on Accern's scale. They also assigned news coverage about the bank an impact score of 45.65 out of 100, meaning that recent news coverage is somewhat unlikely to have an effect on the company's share price in the next several days.
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, Scottrade, Fidelity and Charles Schwab.
What is Independent Bank's stock price today?
One share of INDB stock can currently be purchased for approximately $73.90.
How big of a company is Independent Bank?
Independent Bank has a market capitalization of $2.00 billion and generates $360.19 million in revenue each year. The bank earns $87.20 million in net income (profit) each year or $3.35 on an earnings per share basis. Independent Bank employs 1,108 workers across the globe.
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]
MarketBeat Community Rating for Independent Bank (INDB)
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.
Independent Bank (NASDAQ:INDB) Price Target and Consensus Rating
(How are Consensus Ratings Calculated?) MarketBeat calculates consensus analyst ratings for stocks using the most recent rating from each Wall Street analyst that has rated a stock within the last twelve months. Each analyst's rating is normalized to a standardized rating score of 1 (sell), 2 (hold), 3 (buy) or 4 (strong buy). Analyst consensus ratings scores are calculated using the mean average of the number of normalized sell, hold, buy and strong buy ratings from Wall Street analysts. Each stock's consensus analyst rating is derived from its calculated consensus ratings score (0-1.5 = Sell, 1.5-2.5 = Hold, 2.5-3.5 = Buy, >3.5 = Strong Buy). MarketBeat's consensus price targets are a mean average of the most recent available price targets set by each analyst that has set a price target for the stock in the last twelve months. MarketBeat's consensus ratings and consensus price targets may differ from those calculated by other firms due to differences in methodology and available data.
4 Wall Street analysts have issued ratings and price targets for Independent Bank in the last 12 months. Their average twelve-month price target is $70.6667, suggesting that the stock has a possible downside of 4.38%. The high price target for INDB is $76.00 and the low price target for INDB is $63.00. There are currently 3 hold ratings and 1 buy rating for the stock, resulting in a consensus rating of "Hold."
| Today | 30 Days Ago | 90 Days Ago | 180 Days Ago |
| Consensus Rating: | Hold | Hold | Hold | Hold |
| Consensus Rating Score: | 2.25 | 2.25 | 2.25 | 2.00 |
| Ratings Breakdown: | 0 Sell Rating(s)
3 Hold Rating(s)
1 Buy Rating(s)
0 Strong Buy Rating(s) | 0 Sell Rating(s)
3 Hold Rating(s)
1 Buy Rating(s)
0 Strong Buy Rating(s) | 0 Sell Rating(s)
3 Hold Rating(s)
1 Buy Rating(s)
0 Strong Buy Rating(s) | 0 Sell Rating(s)
4 Hold Rating(s)
0 Buy Rating(s)
0 Strong Buy Rating(s) |
| Consensus Price Target: | $70.6667 | $70.6667 | $70.6667 | $70.6667 |
| Price Target Upside: | 4.38% downside | 3.92% downside | 0.24% upside | 7.20% downside |
Independent Bank (NASDAQ:INDB) Consensus Price Target History
Independent Bank (NASDAQ:INDB) Analyst Ratings History
Show:
(Data available from 4/19/2016 forward)
Independent Bank (NASDAQ:INDB) Dividend Information
Independent Bank pays an annual dividend of $1.52 per share, with a dividend yield of 2.06%. INDB's most recent quarterly dividend payment was Friday, April 6. Independent Bank pays out 45.37% of its earnings out as a dividend.
| Most Recent Dividend: | 4/6/2018 |
| Annual Dividend: | $1.52 |
| Dividend Yield: | 2.06% |
| Payout Ratio: | 45.37% (Trailing 12 Months of Earnings)
34.70% (Based on This Year's Estimates)
32.00% (Based on Next Year's Estimates)
|
Independent Bank (NASDAQ:INDB) Dividend History by Quarter
| Announced | Period | Amount | Yield | Ex-Dividend Date | Record Date | Payable Date |
|---|
| 3/16/2018 | quarterly | $0.38 | 2.01% | 3/23/2018 | 3/26/2018 | 4/6/2018 |
| 12/15/2017 | quarterly | $0.32 | 1.82% | 12/22/2017 | 12/26/2017 | 1/5/2018 |
| 9/21/2017 | quarterly | $0.32 | 1.77% | 9/22/2017 | 9/25/2017 | 10/6/2017 |
| 6/15/2017 | quarterly | $0.32 | 1.94% | 6/22/2017 | 6/26/2017 | 7/7/2017 |
| 3/16/2017 | Quarterly | $0.32 | 1.94% | 3/23/2017 | 3/27/2017 | 4/7/2017 |
| 12/9/2016 | quarterly | $0.29 | 1.66% | 12/21/2016 | 12/26/2016 | 1/6/2017 |
| 9/16/2016 | quarterly | $0.29 | 2.21% | 9/23/2016 | 9/26/2016 | 10/7/2016 |
| 6/16/2016 | quarterly | $0.29 | 2.59% | 6/23/2016 | 6/27/2016 | 7/8/2016 |
| 3/17/2016 | quarterly | $0.29 | 2.43% | 3/23/2016 | 3/28/2016 | 4/8/2016 |
| 12/11/2015 | quarterly | $0.26 | 2.26% | 12/23/2015 | 12/28/2015 | 1/8/2016 |
| 9/17/2015 | quarterly | $0.26 | 2.33% | 9/24/2015 | 9/28/2015 | 10/9/2015 |
| 6/18/2015 | quarterly | $0.26 | 2.16% | 6/25/2015 | 6/29/2015 | 7/10/2015 |
| 3/19/2015 | quarterly | $0.26 | 2.32% | 3/26/2015 | 3/30/2015 | 4/10/2015 |
| 12/11/2014 | quarterly | $0.24 | 2.37% | 12/24/2014 | 12/29/2014 | 1/9/2015 |
| 9/18/2014 | quarterly | $0.24 | 2.6% | 9/25/2014 | 9/29/2014 | 10/10/2014 |
| 6/19/2014 | quarterly | $0.24 | 2.52% | 6/26/2014 | 6/30/2014 | 7/11/2014 |
| 3/20/2014 | quarterly | $0.24 | 2.38% | 3/27/2014 | 3/31/2014 | 4/11/2014 |
| 12/12/2013 | quarterly | $0.22 | 2.43% | 12/26/2013 | 12/30/2013 | 1/10/2014 |
| 9/19/2013 | quarterly | $0.22 | 2.45% | 9/26/2013 | 9/30/2013 | 10/11/2013 |
| 6/20/2013 | quarterly | $0.22 | 2.62% | 6/27/2013 | 7/1/2013 | 7/12/2013 |
| 3/21/2013 | quarterly | $0.22 | 2.73% | 3/27/2013 | 4/1/2013 | 4/12/2013 |
| 12/12/2012 | quarterly | $0.21 | 2.9% | 12/20/2012 | 12/24/2012 | 12/31/2012 |
(Data available from 1/1/2013 forward)
Independent Bank (NASDAQ INDB) Insider Trading and Institutional Ownership History
Insider Ownership Percentage: 2.67%
Institutional Ownership Percentage: 79.62%
Independent Bank (NASDAQ INDB) Insider Trading History
| Transaction Date | Insider Name | Title | Buy/Sell | Number of Shares | Average Share Price | Total Transaction | Shares Held After Transaction | Details |
|---|
| 2/23/2018 | Robert D. Cozzone | CFO | Buy | 788 | $71.25 | $56,145.00 | |  |
| 2/2/2018 | Christopher Oddleifson | Insider | Sell | 1,200 | $72.60 | $87,120.00 | 86,643 | |
| 1/25/2018 | Donna L. Abelli | Director | Sell | 601 | $72.05 | $43,302.05 | | |
| 12/12/2017 | Carl Ribeiro | Director | Sell | 700 | $69.25 | $48,475.00 | | |
| 11/21/2017 | Daniel F Obrien | Director | Sell | 1,000 | $70.19 | $70,190.00 | 22,912 | |
| 11/2/2017 | Robert D. Cozzone | CFO | Sell | 3,250 | $72.50 | $235,625.00 | | |
| 10/25/2017 | Eileen C. Miskell | Director | Sell | 1,200 | $71.27 | $85,524.00 | | |
| 7/31/2017 | Gerard F. Nadeau | Insider | Sell | 5,193 | $71.75 | $372,597.75 | | |
| 7/26/2017 | Christopher Oddleifson | Insider | Sell | 1,750 | $72.02 | $126,035.00 | 92,143 | |
| 7/25/2017 | Eileen C. Miskell | Director | Sell | 1,100 | $72.05 | $79,255.00 | | |
| 7/25/2017 | Mark J Ruggiero | Insider | Sell | 400 | $73.05 | $29,220.00 | 2,852 | |
| 5/25/2017 | Carl Ribeiro | Director | Sell | 1,000 | $62.24 | $62,240.00 | 14,647 | |
| 5/1/2017 | Gerard F. Nadeau | Insider | Sell | 6,103 | $63.71 | $388,822.13 | | |
| 4/28/2017 | Kevin J Jones | Director | Sell | 9,630 | $64.11 | $617,379.30 | 77,534 | |
| 3/10/2017 | Maurice H Sullivan Jr | Director | Sell | 4,275 | $64.65 | $276,378.75 | 28,455 | |
| 2/1/2017 | Christopher Oddleifson | Insider | Sell | 1,275 | $62.10 | $79,177.50 | 91,799 | |
| 1/26/2017 | Christopher Oddleifson | Insider | Sell | 2,000 | $63.73 | $127,460.00 | 93,799 | |
| 1/25/2017 | Edward H Seksay | General Counsel | Sell | 2,000 | $63.20 | $126,400.00 | 10,640 | |
| 12/9/2016 | Carl Ribeiro | Director | Sell | 746 | $69.55 | $51,884.30 | | |
| 12/2/2016 | Thomas R Venables | Director | Sell | 3,300 | $64.59 | $213,147.00 | 21,623 | |
| 11/30/2016 | Daniel F Obrien | Director | Sell | 2,300 | $65.44 | $150,512.00 | 23,412 | |
| 11/21/2016 | Barry H. Jensen | Insider | Sell | 3,000 | $64.51 | $193,530.00 | | |
| 10/28/2016 | Maurice H Sullivan Jr | Director | Sell | 2,442 | $54.96 | $134,212.32 | 28,455 | |
| 10/27/2016 | Christopher Oddleifson | Insider | Sell | 1,800 | $55.12 | $99,216.00 | 100,727 | |
| 10/26/2016 | Thomas R Venables | Director | Sell | 3,600 | $55.80 | $200,880.00 | 24,923 | |
| 10/25/2016 | Eileen C. Miskell | Director | Sell | 1,000 | $55.85 | $55,850.00 | | |
| 8/31/2016 | Robert D. Cozzone | CFO | Sell | 1,250 | $53.11 | $66,387.50 | | |
| 8/17/2016 | Gerard F. Nadeau | Insider | Sell | 2,600 | $51.93 | $135,018.00 | | |
| 7/27/2016 | Maurice H Sullivan Jr | Director | Sell | 5,000 | $50.78 | $253,900.00 | 28,455 | |
| 7/26/2016 | Mark J Ruggiero | Insider | Sell | 272 | $50.20 | $13,654.40 | 2,670 | |
| 7/26/2016 | Maurice H Sullivan Jr | Director | Sell | 2,475 | $50.15 | $124,121.25 | 28,455 | |
| 6/1/2016 | Carl Ribeiro | Director | Sell | 700 | $48.93 | $34,251.00 | 15,728 | |
| 5/16/2016 | Carl Ribeiro | Director | Sell | 700 | $46.13 | $32,291.00 | 15,703 | |
| 5/16/2016 | Gerard F Nadeau | EVP | Sell | 4,520 | $46.35 | $209,502.00 | 23,531 | |
| 5/11/2016 | Maurice H Sullivan Jr | Director | Sell | 2,475 | $46.80 | $115,830.00 | 24,730 | |
| 5/10/2016 | Jane Lundquist | EVP | Sell | 3,000 | $46.79 | $140,370.00 | 32,216 | |
| 4/29/2016 | Christopher Oddleifson | CEO | Sell | 1,725 | $46.79 | $80,712.75 | 103,052 | |
| 4/27/2016 | Maurice H Sullivan Jr | Director | Sell | 3,000 | $47.35 | $142,050.00 | 24,730 | |
| 11/18/2015 | Jane Lundquist | EVP | Sell | 1,910 | $49.91 | $95,328.10 | 33,318 | |
| 11/3/2015 | Christopher Oddleifson | CEO | Sell | 3,893 | $47.22 | $183,827.46 | 101,224 | |
| 11/3/2015 | Gerard F Nadeau | EVP | Sell | 3,460 | $46.99 | $162,585.40 | 25,230 | |
| 10/29/2015 | Carl Ribeiro | Director | Sell | 1,000 | $47.99 | $47,990.00 | 16,258 | |
| 10/27/2015 | Maurice H Sullivan Jr | Director | Sell | 2,475 | $46.56 | $115,236.00 | 25,255 | |
| 8/19/2015 | Maurice H Sullivan Jr | Director | Sell | 2,475 | $47.65 | $117,933.75 | | |
| 7/22/2015 | Barry H Jensen | Insider | Sell | 12,500 | $49.50 | $618,750.00 | | |
| 7/22/2015 | Raymond G Fuerschbach | SVP | Sell | 8,500 | $49.79 | $423,215.00 | | |
| 7/21/2015 | Edward H Seksay | General Counsel | Sell | 2,500 | $49.36 | $123,400.00 | | |
| 5/6/2015 | Gerard F Nadeau | EVP | Sell | 8,708 | $41.85 | $364,429.80 | | |
| 5/5/2015 | Jane Lundquist | EVP | Sell | 1,300 | $41.54 | $54,002.00 | | |
| 4/28/2015 | Jane Lundquist | EVP | Sell | 1,500 | $41.84 | $62,760.00 | | |
| 4/22/2015 | Edward H Seksay | General Counsel | Sell | 3,500 | $41.49 | $145,215.00 | | |
| 2/23/2015 | Raymond G Fuerschbach | SVP | Sell | 2,366 | $41.43 | $98,023.38 | | |
| 2/19/2015 | Robert D Cozzone | CFO | Sell | 1,250 | $41.84 | $52,300.00 | | |
| 2/3/2015 | Christopher Oddleifson | CEO | Sell | 2,025 | $39.73 | $80,453.25 | | |
| 11/3/2014 | Christopher Oddleifson | CEO | Sell | 5,360 | $39.86 | $213,649.60 | | |
| 10/23/2014 | Robert D Cozzone | CFO | Sell | 5,000 | $38.23 | $191,150.00 | | |
| 10/22/2014 | Jane Lundquist | EVP | Sell | 4,000 | $38.24 | $152,960.00 | | |
| 8/13/2014 | Gerard F Nadeau | EVP | Sell | 6,060 | $35.83 | $217,129.80 | | |
| 5/12/2014 | Edward Seksay | General Counsel | Sell | 2,100 | $37.15 | $78,015.00 | 16,377 | |
| 5/1/2014 | Jane Lundquist | EVP | Sell | 1,500 | $36.50 | $54,750.00 | 36,672 | |
| 1/30/2014 | Christopher Oddleifson | CEO | Sell | 2,100 | $36.90 | $77,490.00 | 103,677 | |
| 11/13/2013 | Jane Lundquist | EVP | Sell | 1,164 | $35.51 | $41,333.64 | 31,809 | |
| 10/24/2013 | Christopher Oddleifson | CEO | Sell | 2,250 | $37.05 | $83,362.50 | | |
| 8/1/2013 | Barry H Jensen | Insider | Sell | 7,422 | $37.52 | $278,473.44 | | |
| 8/1/2013 | Raymond G Fuerschbach | SVP | Sell | 2,959 | $37.42 | $110,725.78 | | |
| 7/25/2013 | Edward F Jankowski | CTO | Sell | 8,500 | $37.36 | $317,560.00 | | |
| 7/24/2013 | Raymond G Fuerschbach | SVP | Sell | 7,387 | $37.65 | $278,120.55 | | |
| 7/19/2013 | Gerard F Nadeau | EVP | Sell | 2,600 | $37.40 | $97,240.00 | | |
| 7/17/2013 | Edward H Seksay | General Counsel | Sell | 7,875 | $36.54 | $287,752.50 | | |
| 7/17/2013 | Kevin J Jones | Director | Buy | 1,064 | $36.63 | $38,974.32 | | |
| 6/4/2013 | Edward F Jankowski | CTO | Sell | 5,650 | $33.44 | $188,936.00 | | |
| 5/28/2013 | Jane Lundquist | EVP | Sell | 3,000 | $33.20 | $99,600.00 | | |
| 5/23/2013 | Edward F Jankowski | CTO | Sell | 4,235 | $32.53 | $137,764.55 | | |
| 5/22/2013 | Benjamin A Gilmore II | Director | Sell | 1,000 | $33.22 | $33,220.00 | | |
| 5/22/2013 | Gerard F Nadeau | EVP | Sell | 5,100 | $33.21 | $169,371.00 | | |
| 5/21/2013 | Thomas R Venables | Director | Sell | 21,500 | $33.12 | $712,080.00 | | |
| 5/20/2013 | Eileen C Miskell | Director | Sell | 1,130 | $33.17 | $37,482.10 | | |
| 1/29/2013 | Kevin J Jones | Director | Buy | 1,127 | $30.96 | $34,891.92 | | |
| 11/26/2012 | John H Spurr Jr | Director | Sell | 89,213 | $28.10 | $2,506,885.30 | | |
(Data available from 1/1/2013 forward)
Independent Bank (NASDAQ INDB) News Headlines
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Independent Bank (NASDAQ:INDB) SEC Filings
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Independent Bank (NASDAQ:INDB) Income Statement, Balance Sheet and Cash Flow Statement
Independent Bank (NASDAQ INDB) Stock Chart for Thursday, April, 19, 2018
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