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NASDAQ:INDBIndependent Bank Stock Price, Forecast & News

$66.58
+1.10 (+1.68 %)
(As of 08/7/2020 11:55 AM ET)
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Compare
Today's Range
$65.02
Now: $66.58▼
$66.58
50-Day Range
$60.77
MA: $64.79▼
$67.72
52-Week Range
$50.45
Now: $66.58▼
$87.11
Volume744 shs
Average Volume104,951 shs
Market Capitalization$2.19 billion
P/E Ratio15.03
Dividend Yield2.79%
Beta0.93
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, home equity loans, and loans for the construction of residential properties; and other consumer loans, such as personal loans. Its commercial and industrial loans cover loans for working capital, other business-related purposes, and floor plan financing; asset-based loans consist primarily of revolving lines of credit and term loans; commercial real estate loans include commercial mortgages for construction purposes that are secured by nonresidential properties, multifamily properties, or one-to-four family rental properties; and small business loans comprise businesses with commercial credit needs. The company 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 cards and debit cards; and mutual fund shares, unit investment trust shares, general securities, fixed and variable annuities, and life insurance. It operates through 87 full service and 2 limited service retail branches, 13 commercial banking centers, 8 investment management offices, and 1 mortgage lending center in Eastern Massachusetts; and an investment management group/commercial lending office in Rhode Island. The company was founded in 1907 and is headquartered in Rockland, Massachusetts.
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Independent Bank logo

Beat the Market (BTM) Rank™

Analyst Opinion: 2.0Community Rank: 2.0Dividend Strength: 3.3Insider Behavior: 1.0Valuation: 1.9 5 -4 -3 -2 -1 -

Overall Beat the Market Rank™

2.04 out of 5 stars


Industry, Sector and Symbol

Stock Exchange NASDAQ
Industry State commercial banks
Sub-IndustryRegional Banks
SectorFinance
Current SymbolNASDAQ:INDB
Previous Symbol
CUSIP45383610
CIK776901
Webwww.rocklandtrust.com
Phone781-878-6100

Debt

Debt-to-Equity Ratio0.18
Current Ratio0.97
Quick Ratio0.97

Price-To-Earnings

Trailing P/E Ratio15.03
Forward P/E Ratio19.93
P/E GrowthN/A

Sales & Book Value

Annual Sales$562.31 million
Price / Sales3.90
Cash Flow$6.00 per share
Price / Cash Flow11.10
Book Value$50.76 per share
Price / Book1.31

Profitability

EPS (Most Recent Fiscal Year)$5.62
Net Income$165.18 million
Net Margins26.94%
Return on Equity8.95%
Return on Assets1.26%

Miscellaneous

Employees1,348
Outstanding Shares32,940,000
Market Cap$2.19 billion
Next Earnings Date10/15/2020 (Estimated)
OptionableOptionable
$66.58
+1.10 (+1.68 %)
(As of 08/7/2020 11:55 AM ET)
30 days | 90 days | 365 days | Advanced Chart

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Independent Bank (NASDAQ:INDB) Frequently Asked Questions

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

Independent Bank's stock was trading at $59.36 on March 11th, 2020 when COVID-19 (Coronavirus) reached pandemic status according to the World Health Organization (WHO). Since then, INDB stock has increased by 12.2% and is now trading at $66.58.
View which stocks have been most impacted by Coronavirus.

Do Wall Street analysts recommend investors buy shares of Independent Bank?

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."
View analyst ratings for Independent Bank.

When is Independent Bank's next earnings date?

Independent Bank is scheduled to release its next quarterly earnings announcement on Thursday, October 15th 2020.
View our earnings forecast for Independent Bank.

How were Independent Bank's earnings last quarter?

Independent Bank Corp (NASDAQ:INDB) announced its quarterly earnings data on Thursday, July, 23rd. The bank reported $0.76 earnings per share (EPS) for the quarter, topping the Zacks' consensus estimate of $0.62 by $0.14. The bank earned $119.29 million during 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.

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

Independent Bank declared a quarterly dividend on Thursday, June 18th. Investors of record on Monday, June 29th will be paid a dividend of $0.46 per share on Friday, July 10th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.76%. The ex-dividend date of this dividend is Friday, June 26th.
View Independent Bank's dividend history.

What price target have analysts set for INDB?

5 analysts have issued 12 month target prices for Independent Bank's stock. Their forecasts range from $67.00 to $98.00. On average, they anticipate Independent Bank's stock price to reach $80.75 in the next twelve months. This suggests a possible upside of 21.3% from the stock's current price.
View analysts' price targets for Independent Bank.

Has Independent Bank been receiving favorable news coverage?

News stories about INDB stock have been trending positive on Friday, InfoTrie Sentiment Analysis reports. The research group identifies negative and positive media coverage by monitoring 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 closest to five being the most favorable. Independent Bank earned a news sentiment score of 2.1 on InfoTrie's scale. They also assigned media headlines about the bank a news buzz of 0.0 out of 10, meaning that recent media coverage is extremely unlikely to have an impact on the company's share price in the immediate future.
View the latest news about Independent Bank.

Are investors shorting Independent Bank?

Independent Bank saw a decline in short interest during the month of July. As of July 31st, there was short interest totaling 1,110,000 shares, a decline 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 shares are short sold.
View Independent Bank's Current Options Chain.

Who are some of Independent Bank's key competitors?

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).
View all competitors.

What other stocks do shareholders of Independent Bank own?

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).

Who are Independent Bank's key executives?

Independent Bank's management team includes the following people:
  • Mr. Christopher Oddleifson, CEO, Pres & Director (Age 60)
  • Mr. Robert D. Cozzone, Exec. VP & COO (Age 48)
  • Mr. Barry H. Jensen, Chief Technology Officer (Age 54)
  • Mr. Edward H. Seksay Esq., Gen. Counsel & Corp. Sec. (Age 61)
  • Mr. Gerard F. Nadeau, Director (Age 61)

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 many different institutional and retail investors. Top institutional investors include 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%), Boston Trust Walden Corp (0.44%) and Prudential PLC (0.42%). 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.

Which major investors are selling Independent Bank stock?

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.

Which major investors are buying Independent Bank stock?

INDB stock was acquired by a variety of institutional investors in the last quarter, including Palisade Capital Management LLC NJ, First Trust Advisors LP, New York State Common Retirement Fund, Boston Trust Walden Corp, Swiss National Bank, Hennessy Advisors Inc., UBS Group AG, and CWM LLC.
View insider buying and selling activity for Independent Bank.

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 Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab.

What is Independent Bank's stock price today?

One share of INDB stock can currently be purchased for approximately $66.58.

How big of a company is Independent Bank?

Independent Bank has a market capitalization of $2.19 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.

What is Independent Bank's official website?

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

How can I contact Independent Bank?

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]

This page was last updated on 8/7/2020 by MarketBeat.com Staff
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