Independent Bank - INDB Stock Forecast, Price & News

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" 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.
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1 Wall Street analysts have issued 1 year price objectives for Independent Bank's shares. Their INDB share price forecasts range from $88.00 to $107.00. On average, they expect the company's stock price to reach $97.50 in the next year. This suggests a possible upside of 26.0% from the stock's current price.
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Independent Bank's stock was trading at $81.53 on January 1st, 2022. Since then, INDB stock has decreased by 5.1% and is now trading at $77.39.
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The company is scheduled to release its next quarterly earnings announcement on Thursday, October 20th 2022.
View our INDB earnings forecast.

Independent Bank Corp. (NASDAQ:INDB) posted its earnings results on Thursday, July, 21st. The bank reported $1.32 EPS for the quarter, topping the consensus estimate of $1.26 by $0.06. The bank had revenue of $172.76 million for the quarter, compared to analyst estimates of $168.60 million. Independent Bank had a net margin of 25.36% and a trailing twelve-month return on equity of 8.56%. During the same quarter last year, the business posted $1.17 earnings per share.

Independent Bank declared a quarterly dividend on Thursday, September 15th. Shareholders of record on Monday, September 26th will be paid a dividend of $0.51 per share on Friday, October 7th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.64%. The ex-dividend date is Friday, September 23rd.
Read our dividend analysis for INDB.

Independent Bank (NASDAQ:INDB) pays an annual dividend of $2.04 per share and currently has a dividend yield of 2.63%. The company has been increasing its dividend for 11 consecutive years, indicating the company has a strong committment to maintain and grow its dividend. The dividend payout ratio is 55.28%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, INDB will have a dividend payout ratio of 34.00% next year. This indicates that the company will be able to sustain or increase its dividend.
Read our dividend analysis for INDB.

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 a number of institutional and retail investors. Top institutional shareholders include State Street Corp (4.59%), Victory Capital Management Inc. (3.89%), Price T Rowe Associates Inc. MD (3.45%), Macquarie Group Ltd. (1.63%), Goldman Sachs Group Inc. (1.53%) and Northern Trust Corp (1.47%). 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, Mark J Ruggiero, Robert D Cozzone, Robert D Cozzone, Scott Smith, Thomas R Venables and William M Parent.
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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.
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One share of INDB stock can currently be purchased for approximately $77.39.

Independent Bank (NASDAQ:INDB) has a market capitalization of $3.62 billion and generates $521.13 million in revenue each year. The bank earns $120.99 million in net income (profit) each year or $3.69 on an earnings per share basis.

The company employs 1,691 workers across the globe.

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.