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NASDAQ:INDBIndependent Bank Stock Price, Forecast & News

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Today's Range N/A
50-Day Range
$60.77
MA: $64.84
$68.52
52-Week Range N/A
Volume83,338 shs
Average Volume98,822 shs
Market Capitalization$2.26 billion
P/E Ratio15.50
Dividend Yield2.69%
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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Beat the Market (BTM) Rank

Analyst Opinion: 3.0Community Rank: 2.0Dividend Strength: 3.3Insider Behavior: 1.0Valuation: 1.9 5 -4 -3 -2 -1 -

Overall Beat the Market Rank

2.24 out of 5 stars


Industry, Sector and Symbol

Industry State commercial banks
Sub-IndustryRegional Banks
SectorFinance
Current SymbolNASDAQ:INDB
CUSIP45383610
Phone781-878-6100

Debt

Price-To-Earnings

Sales & Book Value

Annual Sales$562.31 million
Book Value$49.69 per share

Profitability

Net Income$165.18 million

Miscellaneous

Employees1,348
Market Cap$2.26 billion
Next Earnings Date10/15/2020 (Estimated)
OptionableOptionable
30 days | 90 days | 365 days | Advanced Chart

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Independent Bank (NASDAQ:INDB) Frequently Asked Questions

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 consensus estimate of $0.62 by $0.14. The bank had revenue of $119.29 million for the quarter, compared to analysts' expectations of $124.80 million. Independent Bank had a return on equity of 8.95% and a net margin of 26.94%.
View Independent Bank's earnings history
.

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

Independent Bank announced a quarterly dividend on Thursday, June 18th. Investors 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 dividend on an annualized basis and a dividend yield of ∞. 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 Wall Street analysts have issued twelve-month price objectives for Independent Bank's shares. 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.
View analysts' price targets for Independent Bank
.

Has Independent Bank been receiving favorable news coverage?

Headlines about INDB stock have trended negative on Wednesday, according to InfoTrie Sentiment Analysis. The research firm rates the sentiment of news coverage by reviewing more than six thousand blog and news sources in real time. The firm ranks coverage of public companies on a scale of -5 to 5, with scores nearest to five being the most favorable. Independent Bank earned a daily sentiment score of -2.6 on InfoTrie's scale. They also gave media headlines about the bank a news buzz of 0.0 out of 10, indicating that recent news 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 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 daily trading volume, of 168,300 shares, the short-interest ratio is currently 6.6 days. Approximately 3.4% of the shares of the stock are short sold.
View Independent Bank's Short Interest
.

Who are some of Independent Bank's key competitors?

What other stocks do shareholders of Independent Bank own?

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 a number of retail and institutional investors. Top institutional shareholders 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
.

Which institutional 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 institutional investors are buying Independent Bank stock?

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
.

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.

How big of a company is Independent Bank?

Independent Bank has a market capitalization of $0.00 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 8/12/2020 by MarketBeat.com Staff

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