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NASDAQ:INDB

Independent Bank - INDB Stock Forecast, Price & News

$82.42
+0.82 (+1.00%)
(As of 02/7/2023 12:00 AM ET)
Add
Compare
Today's Range
$80.80
$82.55
50-Day Range
$76.45
$91.51
52-Week Range
$74.28
$91.65
Volume
196,270 shs
Average Volume
235,875 shs
Market Capitalization
$3.76 billion
P/E Ratio
14.46
Dividend Yield
2.66%
Price Target
$94.33

Independent Bank MarketRank™ Forecast

Analyst Rating
Hold
2.00 Rating Score
Upside/​Downside
14.5% Upside
$94.33 Price Target
Short Interest
Healthy
2.12% of Shares Sold Short
Dividend Strength
Strong
Based on Four Factors
Sustainability
N/A
News Sentiment
0.65mentions of Independent Bank in the last 14 days
Based on 5 Articles This Week
Insider Trading
Selling Shares
$93,360 Sold Last Quarter
Proj. Earnings Growth
0.47%
From $6.34 to $6.37 Per Share

Overall MarketRank

MarketRank is calculated as an average of available category scores, with extra weight given to analysis and valuation.

2.62 out of 5 stars

Finance Sector

193rd out of 861 stocks

State Commercial Banks Industry

45th out of 182 stocks

INDB stock logo

About Independent Bank (NASDAQ:INDB) Stock

Independent Bank Corp. operates as a bank holding company. The company provides commercial banking, retail banking, and wealth management services and is engaged in the sale of retail investments and insurance products in Massachusetts. It offers deposit products, including demand deposits, interest checking, money market accounts, savings accounts, and time certificates of deposit. The company provides real estate loans, which include commercial mortgages that are secured by non-residential properties, residential mortgages that are secured primarily by owner-occupied residences, and mortgages for the construction of commercial and residential properties. Independent Bank was founded in 1985 and is headquartered in Rockland, MA.

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INDB Stock News Headlines

A gold storm is coming…
“We are in the early stages of a mania – the calm before the storm.”...
Independent Bank Corp. (NASDAQ:INDB) Short Interest Update
The #1 Energy Stock to Buy
The next major energy revolution is unfolding right now. And it could hand early investors as much as 46,700% gains…
Independent Bank: Dividend Insights
See More Headlines
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INDB Company Calendar

Last Earnings
10/20/2021
Ex-Dividend for 1/6 Dividend
12/23/2022
Dividend Payable
1/06/2023
Today
2/07/2023
Next Earnings (Estimated)
4/20/2023
Fiscal Year End
12/31/2023

Industry, Sector and Symbol

Industry
State commercial banks
Sub-Industry
Regional Banks
Sector
Finance
Current Symbol
NASDAQ:INDB
CUSIP
45383610
Employees
1,691
Year Founded
1864

Price Target and Rating

Average Stock Price Forecast
$94.33
High Stock Price Forecast
$100.00
Low Stock Price Forecast
$83.00
Forecasted Upside/Downside
+14.5%
Consensus Rating
Hold
Rating Score (0-4)
2.00
Research Coverage
2 Analysts

Profitability

Net Income
$263.81 million
Pretax Margin
45.91%

Debt

Sales & Book Value

Annual Sales
$757.51 million
Cash Flow
$4.64 per share
Book Value
$63.25 per share

Miscellaneous

Free Float
45,176,000
Market Cap
$3.76 billion
Optionable
Optionable
Beta
0.83

Social Links


Key Executives

  • Christopher OddleifsonChristopher Oddleifson
    President, Chief Executive Officer & Director
  • Robert D. CozzoneRobert D. Cozzone
    Chief Operating Officer & Executive Vice President
  • Mark J. Ruggiero
    Chief Financial & Accounting Officer
  • Barry H. Jensen
    Chief Technology Officer
  • Edward H. SeksayEdward H. Seksay
    Chief Risk Officer, Executive VP & General Counsel













INDB Stock - 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 forecast for 2023?

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.

How have INDB shares performed in 2023?

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.
View the best growth stocks for 2023 here
.

Are investors shorting Independent Bank?

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
.

When is Independent Bank's next earnings date?

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

How were Independent Bank's earnings last quarter?

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.

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

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
.

Is Independent Bank a good dividend stock?

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.

What other stocks do shareholders of Independent Bank own?
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. (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
.

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 WeBull, Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab.
Compare Top Brokerages Here.

What is Independent Bank's stock price today?

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

How much money does Independent Bank make?

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.

How many employees does Independent Bank have?

The company employs 1,691 workers across the globe.

How can I contact Independent Bank?

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.

This page (NASDAQ:INDB) was last updated on 2/7/2023 by MarketBeat.com Staff