NASDAQ:INDBIndependent Bank Stock Price, Forecast & 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 stock has increased by 15.4% and is now trading at $68.52.
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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 Thursday, October 15th 2020.
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Independent Bank Corp (NASDAQ:INDB) issued its quarterly earnings data on Thursday, July, 23rd. The bank reported $0.76 EPS for the quarter, topping the consensus estimate 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 net margin of 26.94% and a return on equity of 8.95%.
View Independent Bank's earnings history.

Independent Bank announced a quarterly dividend on Thursday, June 18th. Stockholders of record on Monday, June 29th will be given a dividend of $0.46 per share on Friday, July 10th. This represents a $1.84 annualized dividend and a dividend yield of 2.69%. The ex-dividend date of this dividend is Friday, June 26th.
View Independent Bank's dividend history.

5 equities research analysts have issued twelve-month price targets for Independent Bank's stock. Their forecasts range from $67.00 to $98.00. On average, they anticipate Independent Bank's share price to reach $80.75 in the next year. This suggests a possible upside of 17.8% from the stock's current price.
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News headlines about INDB stock have trended very positive recently, according to InfoTrie Sentiment. The research firm identifies negative and positive news coverage by analyzing more than six thousand news and blog sources in real-time. The firm ranks coverage of public companies on a scale of negative five to positive five, with scores nearest to five being the most favorable. Independent Bank earned a news impact score of 4.0 on InfoTrie's scale. They also assigned media stories about the bank a news buzz of 0.0 out of 10, meaning that recent news coverage is extremely unlikely to have an impact on the company's share price in the next few days.
View the latest news about Independent Bank.

Independent Bank saw a drop in short interest during the month of July. As of July 31st, there was short interest totaling 1,110,000 shares, a drop of 8.3% from the July 15th total of 1,210,000 shares. Based on an average trading volume of 168,300 shares, the short-interest ratio is currently 6.6 days. Approximately 3.4% of the company's stock are short sold.
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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), KeyCorp (KEY), SVB Financial Group (SIVB), Regions Financial (RF), Huntington Bancshares (HBAN), Commerce Bancshares (CBSH), Signature Bank (SBNY), Zions Bancorporation NA (ZION), Prosperity Bancshares (PB), East West Bancorp (EWBC) 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), AT&T (T), CBL & Associates Properties (CBL), Cornerstone Total Return Fund (CRF), Martin Midstream Partners (MMLP), SandRidge Permian Trust (PER), Cornerstone Strategic Value Fund (CLM), Canadian Natural Resources (CNQ), Ford Motor (F) and Altria Group (MO).

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 investors include Victory Capital Management Inc. (4.73%), Rockland Trust Co. (2.12%), Principal Financial Group Inc. (0.76%), Palisade Capital Management LLC NJ (0.61%), New York State Common Retirement Fund (0.46%) and Boston Trust Walden Corp (0.44%). 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 Principal Financial Group Inc., Moody Aldrich Partners LLC, Texas Permanent School Fund, Envestnet Asset Management Inc., Penobscot Investment Management Company Inc., Rockland Trust Co., Intrust Bank NA, and Brinker Capital 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 purchased by a variety of institutional investors in the last quarter, including Palisade Capital Management LLC NJ, Victory Capital Management Inc., First Trust Advisors LP, New York State Common Retirement Fund, Boston Trust Walden Corp, Swiss National Bank, Hennessy Advisors Inc., and Fisher 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 $68.52.

Independent Bank has a market capitalization of $2.26 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 288 UNION STREET, ROCKLAND MA, 02370. The bank can be reached via phone at 781-878-6100 or via email at [email protected]