Independent Bank Stock Forecast, Price & News

Independent Bank's stock was trading at $59.36 on March 11th, 2020 when Coronavirus (COVID-19) reached pandemic status according to the World Health Organization (WHO). Since then, INDB shares have decreased by 11.8% and is now trading at $52.33.
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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 Thursday, October 15th 2020.
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Independent Bank Corp (NASDAQ:INDB) released its quarterly earnings data on Thursday, July, 23rd. The bank reported $0.76 earnings per share for the quarter, topping analysts' consensus estimates of $0.62 by $0.14. The bank had revenue of $119.29 million for 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 announced 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 3.52%. The ex-dividend date of this dividend is Friday, September 25th.
View Independent Bank's dividend history.

5 brokers have issued 12 month price objectives for Independent Bank's shares. Their forecasts range from $67.00 to $98.00. On average, they expect Independent Bank's share price to reach $80.75 in the next twelve months. This suggests a possible upside of 54.3% from the stock's current price.
View analysts' price targets for Independent Bank.

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), M&T Bank (MTB), SVB Financial Group (SIVB), KeyCorp (KEY), Regions Financial (RF), Huntington Bancshares (HBAN), Commerce Bancshares (CBSH), Zions Bancorporation NA (ZION), East West Bancorp (EWBC), Signature Bank (SBNY), Prosperity Bancshares (PB) and Cullen/Frost Bankers (CFR).
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Based on aggregate information from My MarketBeat watchlists, some companies that other Independent Bank investors own include Energy Transfer LP Unit (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 a variety of retail and institutional investors. Top institutional investors include Vanguard Group Inc. (10.43%), Silvercrest Asset Management Group LLC (4.87%), Victory Capital Management Inc. (4.73%), Goldman Sachs Group Inc. (3.11%), Rockland Trust Co. (2.12%) and FMR LLC (1.91%). 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 Vanguard Group Inc., Bank of New York Mellon Corp, Nuveen Asset Management LLC, Goldman Sachs Group Inc., Bank of America Corp DE, Prudential Financial Inc., Principal Financial Group Inc., and Principal Financial Group Inc.. 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 FMR LLC, Palisade Capital Management LLC NJ, Victory Capital Management Inc., BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp, Silvercrest Asset Management Group LLC, First Trust Advisors LP, Channing Capital Management LLC, and Balyasny Asset Management LLC.
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 $52.33.

Independent Bank has a market capitalization of $1.72 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]