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NASDAQ:INDB

Independent Bank - INDB Stock Forecast, Price & News

$77.39
-0.26 (-0.33%)
(As of 09/26/2022 12:00 AM ET)
Add
Compare
Today's Range
$76.90
$78.18
50-Day Range
$75.85
$88.08
52-Week Range
$74.11
$93.52
Volume
166,862 shs
Average Volume
195,154 shs
Market Capitalization
$3.62 billion
P/E Ratio
20.97
Dividend Yield
2.63%
Price Target
$97.50

Independent Bank MarketRank™ Forecast

Analyst Rating
Hold
2.00 Rating Score
Upside/​Downside
26.0% Upside
$97.50 Price Target
Short Interest
Healthy
2.22% of Shares Sold Short
Dividend Strength
Strong
Based on Four Factors
Sustainability
N/A
News Sentiment
0.37mentions of Independent Bank in the last 14 days
Based on 4 Articles This Week
Insider Trading
Selling Shares
$350,236 Sold Last Quarter
Proj. Earnings Growth
13.85%
From $5.27 to $6.00 Per Share

Overall MarketRank

MarketRank is calculated as an average of available category scores, with extra weight given to analysis and valuation.

2.84 out of 5 stars

Finance Sector

214th out of 885 stocks

State Commercial Banks Industry

44th out of 180 stocks

INDB stock logo

About Independent Bank (NASDAQ:INDB) Stock

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.

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INDB Stock News Headlines

Independent Bank Corp (Massachusetts)
Independent Bank (MA) (INDB)
Independent Bank declares $0.51 dividend
INDB: Raising target price to $91.00
See More Headlines
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INDB Company Calendar

Ex-Dividend for 7/8 Dividend
6/24/2022
Dividend Payable
7/08/2022
Last Earnings
7/21/2022
Ex-Dividend for 10/7 Dividend
9/23/2022
Today
9/26/2022
Dividend Payable
10/07/2022
Next Earnings (Estimated)
10/20/2022
Fiscal Year End
12/31/2022

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

Price Target and Rating

Average Stock Price Forecast
$97.50
High Stock Price Forecast
$107.00
Low Stock Price Forecast
$88.00
Forecasted Upside/Downside
+26.0%
Consensus Rating
Hold
Rating Score (0-4)
2.00
Research Coverage
1 Analysts

Profitability

Net Income
$120.99 million
Pretax Margin
33.26%

Debt

Sales & Book Value

Annual Sales
$521.13 million
Cash Flow
$4.64 per share
Book Value
$63.75 per share

Miscellaneous

Free Float
46,302,000
Market Cap
$3.62 billion
Optionable
Optionable
Beta
0.83

Social Links


Key Executives

  • Mr. Christopher OddleifsonMr. Christopher Oddleifson (Age 63)
    CEO, Pres & Director
    Comp: $1.81M
  • Mr. Mark J. Ruggiero (Age 45)
    Chief Accounting Officer & CFO
    Comp: $650.41k
  • Mr. Robert D. CozzoneMr. Robert D. Cozzone (Age 51)
    Exec. VP & COO
    Comp: $921.64k
  • Mr. Edward H. Seksay Esq.Mr. Edward H. Seksay Esq. (Age 64)
    Exec. VP & Gen. Counsel
    Comp: $694.39k
  • Mr. Barry H. Jensen (Age 57)
    Exec. VP and Chief Technology & Operations Officer
  • 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 (Age 51)
    Sr. VP & Director of HR of Rockland Trust
  • Ms. Dawn A. Mugford
    Chief Risk Officer













INDB Stock - Frequently Asked Questions

Should I buy or sell Independent Bank stock 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" 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.
View INDB analyst ratings
or view top-rated stocks.

What is Independent Bank's stock price forecast for 2022?

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.
View analysts price targets for INDB
or view top-rated stocks among Wall Street analysts.

How have INDB shares performed in 2022?

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.
View the best growth stocks for 2022 here
.

When is Independent Bank's next earnings date?

The company is scheduled to release its next quarterly earnings announcement on Thursday, October 20th 2022.
View our INDB earnings forecast
.

How were Independent Bank's earnings last quarter?

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.

How often does Independent Bank pay dividends? What is the dividend yield for Independent Bank?

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
.

Is Independent Bank a good dividend stock?

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.

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 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.
View institutional ownership trends
.

How do I buy shares of Independent Bank?

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.
Compare Top Brokerages Here.

What is Independent Bank's stock price today?

One share of INDB stock can currently be purchased for approximately $77.39.

How much money does Independent Bank make?

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.

How many employees does Independent Bank have?

The company employs 1,691 workers across the globe.

How can I contact Independent Bank?

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.

This page (NASDAQ:INDB) was last updated on 9/26/2022 by MarketBeat.com Staff

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