NASDAQ:INDB

Independent Bank Stock Forecast, Price & News

$79.24
+0.36 (+0.46 %)
(As of 06/15/2021 09:56 AM ET)
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Today's Range
$79.09
$79.45
50-Day Range
$76.29
$84.18
52-Week Range
$49.25
$99.85
Volume561 shs
Average Volume169,372 shs
Market Capitalization$2.62 billion
P/E Ratio19.19
Dividend Yield2.41%
Beta0.98
30 days | 90 days | 365 days | Advanced Chart
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Independent Bank logo

About Independent Bank

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. Its products and services include demand deposits and time certificates of deposit, as well as checking, money market, and savings accounts. The company's 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 and home equity loans, and loans for the construction of residential properties; and personal loans. 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 (ATM) cards and debit cards; and mutual fund shares, unit investment trust shares, general securities, fixed and variable annuities, and life insurance products. As of December 31, 2020, it operates through a network of ninety-six full service and two limited service retail branches, sixteen commercial banking centers, ten investment management offices, and eight mortgage lending centers in Eastern Massachusetts, Greater Boston, the South Shore, and the Cape and Islands, as well as in Worcester County and Rhode Island. The company was founded in 1907 and is headquartered in Rockland, Massachusetts.

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Miscellaneous


MarketRank

Overall MarketRank

2.05 out of 5 stars

Finance Sector

151st out of 1,976 stocks

State Commercial Banks Industry

20th out of 310 stocks

Analyst Opinion: 1.4Community Rank: 2.0Dividend Strength: 3.3Insider Behavior: 1.7Valuation: 1.9 5 -4 -3 -2 -1 -
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Independent Bank (NASDAQ:INDB) Frequently Asked Questions

Is Independent Bank a buy right now?

4 Wall Street equities research analysts have issued "buy," "hold," and "sell" ratings for Independent Bank in the last twelve months. There are currently 1 hold rating and 3 buy ratings for the stock. The consensus among Wall Street equities research analysts is that investors should "buy" Independent Bank stock.
View analyst ratings for Independent Bank
or view top-rated stocks.

What stocks does MarketBeat like better than Independent Bank?

Wall Street analysts have given Independent Bank a "Buy" rating, but there may be better buying opportunities in the stock market. Some of MarketBeat's past winning trading ideas have resulted in 5-15% weekly gains. MarketBeat just released five new stock ideas, but Independent Bank wasn't one of them. MarketBeat thinks these five companies may be even better buys.
View MarketBeat's top stock picks here.

When is Independent Bank's next earnings date?

Independent Bank is scheduled to release its next quarterly earnings announcement on Thursday, July 22nd 2021.
View our earnings forecast for Independent Bank
.

How were Independent Bank's earnings last quarter?

Independent Bank Corp. (NASDAQ:INDB) announced its quarterly earnings results on Wednesday, April, 21st. The bank reported $1.26 earnings per share for the quarter, topping the consensus estimate of $1.09 by $0.17. The bank earned $120.83 million during the quarter, compared to the consensus estimate of $115.38 million. Independent Bank had a net margin of 26.98% and a trailing twelve-month return on equity of 8.06%.
View Independent Bank's earnings history
.

How has Independent Bank's stock been impacted by COVID-19?

Independent Bank's stock was trading at $59.36 on March 11th, 2020 when COVID-19 reached pandemic status according to the World Health Organization (WHO). Since then, INDB shares have increased by 32.9% and is now trading at $78.88.
View which stocks have been most impacted by COVID-19
.

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

Independent Bank declared a quarterly dividend on Friday, March 19th. Shareholders of record on Monday, March 29th will be paid a dividend of $0.48 per share on Friday, April 9th. This represents a $1.92 dividend on an annualized basis and a yield of 2.43%. The ex-dividend date of this dividend is Friday, March 26th. This is a boost from Independent Bank's previous quarterly dividend of $0.46.
View Independent Bank's dividend history
.

Is Independent Bank a good dividend stock?

Independent Bank pays an annual dividend of $1.92 per share and currently has a dividend yield of 2.41%. Independent Bank has been increasing its dividend for 7 consecutive years, indicating the company has a new, but growing committment to grow its dividend. The dividend payout ratio of Independent Bank is 52.46%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, Independent Bank will have a dividend payout ratio of 40.08% next year. This indicates that Independent Bank will be able to sustain or increase its dividend.
View Independent Bank's dividend history.

What price target have analysts set for INDB?

4 brokers have issued twelve-month price targets for Independent Bank's stock. Their forecasts range from $70.00 to $94.00. On average, they anticipate Independent Bank's share price to reach $84.67 in the next year. This suggests a possible upside of 7.3% from the stock's current price.
View analysts' price targets for Independent Bank
or view top-rated stocks among Wall Street analysts.

Who are Independent Bank's key executives?

Independent Bank's management team includes the following people:
  • Mr. Christopher Oddleifson, CEO, Pres & Director (Age 62, Pay $1.36M)
  • Mr. Mark J. Ruggiero, Chief Financial & Accounting Officer (Age 44, Pay $457.74k)
  • Mr. Robert D. Cozzone, COO and Exec. VP of Consumer & Bus. Banking (Age 50, Pay $747.73k)
  • Mr. Edward H. Seksay Esq., Exec. VP, Chief Risk Officer & Gen. Counsel (Age 63, Pay $566.62k)
  • Mr. Barry H. Jensen, Exec. VP and Chief Technology & Operations Officer (Age 56)
  • 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, Sr. VP & Director of HR of Rockland Trust (Age 50)
  • Mr. Jonathan Nelson, Treasurer

Who are some of Independent Bank's key competitors?

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 investors include BlackRock Inc. (14.80%), Victory Capital Management Inc. (4.19%), Champlain Investment Partners LLC (3.92%), Dimensional Fund Advisors LP (3.16%), Goldman Sachs Group Inc. (2.65%) and Price T Rowe Associates Inc. MD (2.10%). Company insiders that own Independent Bank stock include Christopher Oddleifson, Daniel F Obrien, Donna L Abelli, Edward H Seksay, Eileen C Miskell, Gerard F Nadeau, Mark J Ruggiero, Robert D Cozzone, Thomas R Venables and William M Parent.
View institutional ownership trends for Independent Bank
.

Which institutional investors are selling Independent Bank stock?

INDB stock was sold by a variety of institutional investors in the last quarter, including Northern Trust Corp, Janus Henderson Group PLC, New York State Common Retirement Fund, Heartland Advisors Inc., Bank of New York Mellon Corp, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp, Dimensional Fund Advisors LP, and Palisade Capital Management LLC NJ. Company insiders that have sold Independent Bank company stock in the last year include Daniel F Obrien, Edward H Seksay, Eileen C Miskell, and Robert D Cozzone.
View insider buying and selling activity for Independent Bank
or view top insider-selling stocks.

Which institutional investors are buying Independent Bank stock?

INDB stock was bought by a variety of institutional investors in the last quarter, including Citadel Advisors LLC, Morgan Stanley, Geode Capital Management LLC, Eaton Vance Management, Cubist Systematic Strategies LLC, Richard Bernstein Advisors LLC, JPMorgan Chase & Co., and NFJ Investment Group LLC.
View insider buying and selling activity for Independent Bank
or or view top insider-buying stocks.

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 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 $78.88.

How much money does Independent Bank make?

Independent Bank has a market capitalization of $2.61 billion and generates $513.51 million in revenue each year. The bank earns $121.17 million in net income (profit) each year or $3.66 on an earnings per share basis.

How many employees does Independent Bank have?

Independent Bank employs 1,432 workers across the globe.

What is Independent Bank's official website?

The official website for Independent Bank is www.rocklandtrust.com.

Where are Independent Bank's headquarters?

Independent Bank is headquartered at 2036 WASHINGTON STREET, HANOVER MA, 02370.

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]


This page was last updated on 6/15/2021 by MarketBeat.com Staff
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