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NASDAQ:INDB

Independent Bank (INDB) Stock Forecast, Price & News

$81.68
+1.92 (+2.41%)
(As of 05/23/2022 02:09 PM ET)
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Compare
Today's Range
$80.32
$81.91
50-Day Range
$76.22
$86.52
52-Week Range
$68.14
$93.52
Volume
2,150 shs
Average Volume
195,877 shs
Market Capitalization
$3.82 billion
P/E Ratio
23.27
Dividend Yield
2.56%
Beta
0.86
30 days | 90 days | 365 days | Advanced Chart
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Independent Bank logo

About Independent Bank

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 accepts interest checking, money market, and savings accounts, as well as demand deposits and time certificates of deposit. It also offers commercial and industrial, commercial real estate and construction, small business, consumer real estate, and personal loans. In addition, the company provides investment management and trust services to individuals, institutions, small businesses, and charitable institutions; Internet and mobile banking services, as well as estate settlement, financial planning, tax services, and other services; automated teller machine and debit cards; and mutual fund and unit investment trust shares, general securities, fixed and variable annuities, and life insurance products. As of December 31, 2021, it operates one hundred nineteen retail branches, two limited-service retail branches, and one mobile branch located within Barnstable, Bristol, Dukes, Essex, Middlesex, Nantucket, Norfolk, Plymouth, Suffolk, and Worcester counties in Eastern Massachusetts. The company was founded in 1907 and is headquartered in Rockland, Massachusetts.

Headlines

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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

Sales & Book Value

Annual Sales
$521.13 million
Cash Flow
$4.84 per share
Book Value
$63.39 per share

Profitability

Net Income
$120.99 million
Pretax Margin
30.76%

Debt

Price-To-Earnings

Miscellaneous

Free Float
46,302,000
Market Cap
$3.82 billion
Optionable
Optionable

Company Calendar

Ex-Dividend for 4/8 Dividend
3/25/2022
Dividend Payable
4/08/2022
Last Earnings
4/21/2022
Today
5/23/2022
Next Earnings (Estimated)
7/28/2022
Fiscal Year End
12/31/2022

Social Links


MarketRank

Overall MarketRank

2.56 out of 5 stars

Finance Sector

278th out of 1,349 stocks

State Commercial Banks Industry

69th out of 235 stocks

Analyst Opinion: 1.0Community Rank: 3.9Dividend Strength: 4.2Insider Behavior: 2.5Valuation: 1.3 5 -4 -3 -2 -1 -













Independent Bank (NASDAQ:INDB) Frequently Asked Questions

Is Independent Bank a buy right now?

1 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for Independent Bank in the last twelve months. There are currently 1 hold rating for the stock. The consensus among Wall Street research analysts is that investors should "hold" Independent Bank stock. 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 analyst ratings for Independent Bank
or view top-rated stocks.

When is Independent Bank's next earnings date?

Independent Bank is scheduled to release its next quarterly earnings announcement on Thursday, July 28th 2022.
View our earnings forecast for Independent Bank
.

How were Independent Bank's earnings last quarter?

Independent Bank Corp. (NASDAQ:INDB) released its quarterly earnings results on Thursday, April, 21st. The bank reported $1.23 EPS for the quarter, meeting analysts' consensus estimates of $1.23. The bank earned $163.70 million during the quarter, compared to analysts' expectations of $164.30 million. Independent Bank had a net margin of 23.51% and a trailing twelve-month return on equity of 8.61%. During the same quarter last year, the business earned $1.26 EPS.
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 17th. Stockholders of record on Monday, March 28th will be given a dividend of $0.51 per share on Friday, April 8th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.49%. The ex-dividend date is Friday, March 25th. This is an increase from Independent Bank's previous quarterly dividend of $0.48.
View Independent Bank's dividend history
.

Is Independent Bank a good dividend stock?

Independent Bank pays an annual dividend of $2.04 per share and currently has a dividend yield of 2.56%. Independent Bank has been increasing its dividend for 13 consecutive years, indicating the company has a strong committment to maintain and grow its dividend. The dividend payout ratio of Independent Bank is 58.12%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, Independent Bank will have a dividend payout ratio of 36.11% next year. This indicates that Independent Bank will be able to sustain or increase its dividend.
View Independent Bank's dividend history.

What price target have analysts set for INDB?

1 brokers have issued 1-year price targets for Independent Bank's shares. Their forecasts range from $88.00 to $88.00. On average, they expect Independent Bank's stock price to reach $88.00 in the next year. This suggests a possible upside of 7.6% from the stock's current price.
View analysts' price targets for Independent Bank
or view top-rated stocks among Wall Street analysts.

Who are Independent Bank's key executives?
Independent Bank's management team includes the following people:
  • Mr. Christopher Oddleifson, CEO, Pres & Director (Age 63, Pay $1.81M) (LinkedIn Profile)
  • Mr. Mark J. Ruggiero, Chief Accounting Officer & CFO (Age 45, Pay $650.41k)
  • Mr. Robert D. Cozzone, Exec. VP & COO (Age 51, Pay $921.64k) (LinkedIn Profile)
  • Mr. Edward H. Seksay Esq., Exec. VP, Chief Risk Officer & Gen. Counsel (Age 64, Pay $694.39k) (LinkedIn Profile)
  • Mr. Barry H. Jensen, Exec. VP and Chief Technology & Operations Officer (Age 57)
  • Ms. Meagan Silva, Exec. Assistant
  • Ms. Debra Smith, Sr. VP & Director of Banking & Digital Operations - Rockland Trust Company
  • Mr. David Byron Smith C.F.A., CFA, MD & Chief Investment Officer of Investment Management Group - Rockland Trust Company
  • Ms. Maria S. Harris, Sr. VP & Director of HR of Rockland Trust (Age 51)
  • Mr. Jonathan Nelson, Treasurer
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 shareholders include BlackRock Inc. (14.78%), Vanguard Group Inc. (11.59%), State Street Corp (4.97%), Victory Capital Management Inc. (3.97%), Dimensional Fund Advisors LP (3.66%) and Champlain Investment Partners LLC (3.13%). Company insiders that own Independent Bank stock include Christopher Oddleifson, Daniel F Obrien, Donna L Abelli, Edward H Seksay, Eileen C Miskell, Gerard F Nadeau, Robert D Cozzone, Robert D Cozzone and Scott Smith.
View institutional ownership trends for Independent Bank
.

Which institutional investors are selling Independent Bank stock?

INDB stock was sold by a variety of institutional investors in the last quarter, including Champlain Investment Partners LLC, Renaissance Technologies LLC, Victory Capital Management Inc., Rockland Trust Co., Goldman Sachs Group Inc., Northern Trust Corp, Commonwealth Equity Services LLC, and Dimensional Fund Advisors LP. Company insiders that have sold Independent Bank company stock in the last year include Christopher Oddleifson, Edward H Seksay, Eileen C Miskell, Gerard F Nadeau, Robert D Cozzone, and Scott Smith.
View insider buying and selling activity for Independent Bank
or view top insider-selling stocks.

Which institutional investors are buying Independent Bank stock?

INDB stock was purchased by a variety of institutional investors in the last quarter, including Vanguard Group Inc., The Manufacturers Life Insurance Company , GW&K Investment Management LLC, Hsbc Holdings PLC, American Century Companies Inc., BHZ Capital Management LP, State Street Corp, and Healthcare of Ontario Pension Plan Trust Fund.
View insider buying and selling activity for Independent Bank
or or view top insider-buying stocks.

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 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 $81.81.

How much money does Independent Bank make?

Independent Bank has a market capitalization of $3.83 billion and generates $521.13 million in revenue each year. The bank earns $120.99 million in net income (profit) each year or $3.509990 on an earnings per share basis.

How many employees does Independent Bank have?

Independent Bank employs 1,691 workers across the globe.

When was Independent Bank founded?

Independent Bank was founded in 1864.

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, via email at [email protected], or via fax at 781-982-6130.

This page was last updated on 5/23/2022 by MarketBeat.com Staff

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