Independent Bank Stock Forecast, Price & News

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.
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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."
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Independent Bank is scheduled to release its next quarterly earnings announcement on Friday, October 23rd 2020.
View our earnings forecast for Independent Bank.

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.

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.

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.

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.

Some companies that are related to Independent Bank include Truist Financial (TFC), PNC Financial Services Group (PNC), First Republic Bank (FRC), Fifth Third Bancorp (FITB), SVB Financial Group (SIVB), M&T Bank (MTB), Regions Financial (RF), KeyCorp (KEY), Huntington Bancshares (HBAN), Commerce Bancshares (CBSH), East West Bancorp (EWBC), Prosperity Bancshares (PB), Zions Bancorporation, National Association (ZION), First Citizens BancShares (FCNCA) and Signature Bank (SBNY).
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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. (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.

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.

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.

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.

One share of INDB stock can currently be purchased for approximately $55.52.

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.

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

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]