-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
Stock Exchange NASDAQ
Industry State commercial banks
Sub-IndustryRegional Banks
SectorFinance
Current SymbolNASDAQ:INDB
Previous Symbol
CUSIP45383610
Phone781-878-6100
Debt
Debt-to-Equity Ratio0.16
Current Ratio0.95
Quick Ratio0.94
Price-To-Earnings
Trailing P/E Ratio22.19
Forward P/E Ratio15.91
P/E GrowthN/A
Sales & Book Value
Annual Sales$360.19 million
Price / Sales5.68
Cash Flow$3.8729 per share
Price / Cash Flow19.19
Book Value$34.39 per share
Price / Book2.16
Profitability
EPS (Most Recent Fiscal Year)$3.35
Net Income$87.20 million
Net Margins28.75%
Return on Equity12.21%
Return on Assets1.44%
Miscellaneous
Employees1,108
Outstanding Shares27,550,000
Market Cap$2.07 billion
OptionableOptionable
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 declared a quarterly dividend on Friday, September 21st. Shareholders of record on Monday, October 1st will be given a dividend of $0.38 per share on Friday, October 5th. This represents a $1.52 dividend on an annualized basis and a yield of 2.05%. The ex-dividend date is Friday, September 28th. View Independent Bank's Dividend History.
How were Independent Bank's earnings last quarter?
Independent Bank Corp (NASDAQ:INDB) announced its quarterly earnings data on Thursday, October, 18th. The bank reported $1.14 EPS for the quarter, missing the Thomson Reuters' consensus estimate of $1.20 by $0.06. The bank had revenue of $99.50 million for the quarter, compared to analyst estimates of $99.40 million. Independent Bank had a net margin of 28.75% and a return on equity of 12.21%. View Independent Bank's Earnings History.
When is Independent Bank's next earnings date?
What price target have analysts set for INDB?
4 analysts have issued 1 year price objectives for Independent Bank's shares. Their predictions range from $80.00 to $88.00. On average, they expect Independent Bank's stock price to reach $84.00 in the next twelve months. This suggests a possible upside of 13.0% from the stock's current price. View Analyst Price Targets for Independent Bank.
What is the consensus analysts' recommendation for Independent Bank?
4 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Independent Bank in the last year. There are currently 2 hold ratings and 2 buy ratings for the stock, resulting in a consensus recommendation of "Buy." View Analyst Ratings for Independent Bank.
Has Independent Bank been receiving favorable news coverage?
Press coverage about INDB stock has trended positive on Wednesday, according to InfoTrie. The research firm rates the sentiment of news coverage by analyzing more than six thousand news and blog sources. The firm ranks coverage of publicly-traded companies on a scale of negative five to five, with scores closest to five being the most favorable. Independent Bank earned a coverage optimism score of 2.6 on InfoTrie's scale. They also gave media stories about the bank a news buzz of 3.0 out of 10, meaning that recent news coverage is unlikely to have an effect on the company's share price in the immediate future.
Who are some of Independent Bank's key competitors?
Some companies that are related to Independent Bank include East West Bancorp (EWBC), Commerce Bancshares (CBSH), Signature Bank (SBNY), Popular (BPOP), First Citizens BancShares (FCNCA), Prosperity Bancshares (PB), Western Alliance Bancorporation (WAL), Investors Bancorp (ISBC), First Financial Bankshares (FFIN), Wintrust Financial (WTFC), IBERIABANK (IBKC), Glacier Bancorp (GBCI), Associated Banc (ASB), United Bankshares (UBSI) and First Hawaiian (FHB).
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, Chief Financial Officer (Age 47)
- Mr. Barry H. Jensen, Chief Information Officer, CTO & COO (Age 53)
- Mr. Edward H. Seksay, Gen. Counsel & Corp. Sec. (Age 60)
- Mr. Mark J. Ruggiero, Sr. VP, Controller & Principal Accounting Officer (Age 41)
Who are Independent Bank's major shareholders?
Independent Bank's stock is owned by a number of of retail and institutional investors. Top institutional shareholders include BlackRock Inc. (14.37%), Vanguard Group Inc. (9.97%), Dimensional Fund Advisors LP (4.49%), The Manufacturers Life Insurance Company (2.70%), Victory Capital Management Inc. (2.64%) and Rockland Trust Co. (2.01%). Company insiders that own Independent Bank stock include Carl Ribeiro, Christopher Oddleifson, Daniel F Obrien, Donna L Abelli, Edward H Seksay, Eileen C Miskell, Gerard F Nadeau, Kevin J Jones, Mark J Ruggiero, Maurice H Sullivan Jr, Robert D Cozzone and Thomas R Venables. View Institutional Ownership Trends for Independent Bank.
Which major investors are selling Independent Bank stock?
INDB stock was sold by a variety of institutional investors in the last quarter, including The Manufacturers Life Insurance Company , Victory Capital Management Inc., FMR LLC, Janus Henderson Group PLC, Dimensional Fund Advisors LP, Wasatch Advisors Inc., First Trust Advisors LP and JPMorgan Chase & Co.. Company insiders that have sold Independent Bank company stock in the last year include Carl Ribeiro, Christopher Oddleifson, Daniel F Obrien, Donna L Abelli, Edward H Seksay, Eileen C Miskell, Gerard F Nadeau, Mark J Ruggiero, Robert D Cozzone and Thomas R Venables. View Insider Buying and Selling for Independent Bank.
Which major investors are buying Independent Bank stock?
INDB stock was bought by a variety of institutional investors in the last quarter, including BlackRock Inc., Macquarie Group Ltd., Chicago Equity Partners LLC, WINTON GROUP Ltd, Vanguard Group Inc., Hennessy Advisors Inc., Panagora Asset Management Inc. and Hsbc Holdings PLC. View Insider Buying and Selling for Independent Bank.
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 $74.32.
How big of a company is Independent Bank?
Independent Bank has a market capitalization of $2.07 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.
What is Independent Bank's official website?
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 (NASDAQ 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.
