Independent Bank (INDB) Stock Price, News & Analysis

2 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for Independent Bank in the last twelve months. There are currently 2 hold ratings 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.
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2 analysts have issued 1 year price targets for Independent Bank's stock. Their INDB share price targets range from $64.00 to $64.00. On average, they expect the company's share price to reach $64.00 in the next year. This suggests a possible upside of 26.6% from the stock's current price.
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Independent Bank's stock was trading at $65.81 at the beginning of 2024. Since then, INDB shares have decreased by 23.2% and is now trading at $50.56.
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Independent Bank saw a decrease in short interest during the month of March. As of March 31st, there was short interest totaling 721,200 shares, a decrease of 10.8% from the March 15th total of 808,100 shares. Based on an average daily trading volume, of 295,800 shares, the short-interest ratio is presently 2.4 days.
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The company is scheduled to release its next quarterly earnings announcement on Thursday, July 18th 2024.
View our INDB earnings forecast.

Independent Bank Corp. (NASDAQ:INDB) posted its quarterly earnings results on Wednesday, October, 20th. The bank reported $1.21 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.02 by $0.19. The bank earned $116.55 million during the quarter, compared to analysts' expectations of $117.97 million. Independent Bank had a net margin of 23.97% and a trailing twelve-month return on equity of 7.85%. During the same period in the prior year, the firm earned $1.07 earnings per share.

Independent Bank announced a quarterly dividend on Thursday, March 21st. Investors of record on Monday, April 1st will be paid a dividend of $0.57 per share on Friday, April 5th. This represents a $2.28 annualized dividend and a yield of 4.51%. The ex-dividend date of this dividend is Thursday, March 28th. This is an increase from the stock's previous quarterly dividend of $0.55.
Read our dividend analysis for INDB.

Independent Bank (NASDAQ:INDB) pays an annual dividend of $2.28 per share and currently has a dividend yield of 4.61%. INDB has a dividend yield higher than 75% of all dividend-paying stocks, making it a leading dividend payer. The company does not yet have a strong track record of dividend growth. The dividend payout ratio is 44.02%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, INDB will have a dividend payout ratio of 47.11% next year. This indicates that the company will be able to sustain or increase its dividend.
Read our dividend analysis for INDB.

ETFs with the largest weight of Independent Bank (NASDAQ:INDB) stock in their portfolio include Invesco KBW Regional Banking ETF (KBWR), Invesco High Yield Equity Dividend Achievers ETF (PEY), First Trust NASDAQ ABA Community Bank Index Fund (QABA), First Trust Mid Cap Value AlphaDEX Fund (FNK), Invesco S&P SmallCap Financials ETF (PSCF), SPDR S&P Regional Banking ETF (KRE), First Trust Nasdaq Bank ETF (FTXO) and Vanguard S&P Small-Cap 600 Value ETF (VIOV).

Based on aggregate information from My MarketBeat watchlists, some companies that other Independent Bank investors own include Energy Transfer (ET), CBL & Associates Properties (CBL), Cornerstone Total Return Fund (CRF), Martin Midstream Partners (MMLP), SandRidge Permian Trust (PER), AT&T (T), Cornerstone Strategic Value Fund (CLM), NGL Energy Partners (NGL), Owens Corning (OC) and Pfizer (PFE).

Independent Bank's stock is owned by many different institutional and retail investors. Top institutional shareholders include Rockland Trust Co. (1.52%), Leeward Investments LLC MA (0.59%), State of Alaska Department of Revenue (0.06%), Maryland State Retirement & Pension System (0.04%), Plimoth Trust Co. LLC (0.02%) and Diversified Trust Co (0.01%). Insiders that own company stock include Barry H Jensen, Christopher Oddleifson, Donna L Abelli, Edward H Seksay, Eileen C Miskell, Eileen C Miskell, Gerard F Nadeau, Jeffrey J Tengel, John J Morrissey, Lee C Powlus, Mark J Ruggiero, Robert D Cozzone, Robert D Cozzone and Scott Smith.
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Shares of INDB stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include Charles Schwab, E*TRADE, Fidelity, and Vanguard Brokerage Services.
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