Independent Bank - INDB Stock Forecast, Price & News

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.
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2 analysts have issued twelve-month price objectives for Independent Bank's stock. Their INDB share price forecasts range from $83.00 to $100.00. On average, they expect the company's stock price to reach $94.33 in the next year. This suggests a possible upside of 15.6% from the stock's current price.
View analysts price targets for INDB or view top-rated stocks among Wall Street analysts.

Independent Bank's stock was trading at $84.43 at the beginning of 2023. Since then, INDB shares have decreased by 3.4% and is now trading at $81.60.
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Independent Bank saw a decline in short interest in the month of January. As of January 15th, there was short interest totaling 965,600 shares, a decline of 5.3% from the December 31st total of 1,020,000 shares. Based on an average daily volume of 193,800 shares, the days-to-cover ratio is presently 5.0 days.
View Independent Bank's Short Interest.

The company is scheduled to release its next quarterly earnings announcement on Thursday, April 20th 2023.
View our INDB earnings forecast.

Independent Bank Corp. (NASDAQ:INDB) posted its earnings results on Wednesday, October, 20th. The bank reported $1.21 EPS for the quarter, beating analysts' consensus estimates of $1.02 by $0.19. The bank earned $116.55 million during the quarter, compared to the consensus estimate of $117.97 million. Independent Bank had a net margin of 34.83% and a trailing twelve-month return on equity of 9.32%. During the same quarter in the prior year, the company posted $1.07 earnings per share.

Independent Bank announced a quarterly dividend on Thursday, December 8th. Stockholders of record on Tuesday, December 27th will be given a dividend of $0.55 per share on Friday, January 6th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.70%. The ex-dividend date of this dividend is Friday, December 23rd. This is an increase from the stock's previous quarterly dividend of $0.51.
Read our dividend analysis for INDB.

Independent Bank (NASDAQ:INDB) pays an annual dividend of $2.20 per share and currently has a dividend yield of 2.66%. 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 38.60%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, INDB will have a dividend payout ratio of 34.54% next year. This indicates that the company will be able to sustain or increase its dividend.
Read our dividend analysis for INDB.

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).

Independent Bank trades on the NASDAQ under the ticker symbol "INDB."

Independent Bank's stock is owned by many different institutional and retail investors. Top institutional investors include Rockland Trust Co. (1.41%), Boston Trust Walden Corp (0.82%), New York State Common Retirement Fund (0.71%), Leeward Investments LLC MA (0.56%), Moody Aldrich Partners LLC (0.25%) and Fisher Asset Management LLC (0.24%). Insiders that own company stock include Christopher Oddleifson, Daniel F Obrien, Donna L Abelli, Donna L Abelli, Edward H Seksay, Eileen C Miskell, Eileen C Miskell, Gerard F Nadeau, Robert D Cozzone, Robert D Cozzone and Scott Smith.
View institutional ownership trends.

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.
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One share of INDB stock can currently be purchased for approximately $81.60.

Independent Bank (NASDAQ:INDB) has a market capitalization of $3.72 billion and generates $757.51 million in revenue each year. The bank earns $263.81 million in net income (profit) each year or $5.70 on an earnings per share basis.

The company employs 1,691 workers across the globe.

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.