Independent Bank Corp. (NASDAQ:INDB - Free Report) - Investment analysts at Seaport Res Ptn upped their Q1 2025 earnings per share (EPS) estimates for shares of Independent Bank in a note issued to investors on Monday, December 9th. Seaport Res Ptn analyst L. Hunsicker now expects that the bank will earn $1.24 per share for the quarter, up from their prior estimate of $1.22. The consensus estimate for Independent Bank's current full-year earnings is $4.50 per share. Seaport Res Ptn also issued estimates for Independent Bank's Q2 2025 earnings at $1.31 EPS, Q3 2025 earnings at $1.35 EPS, Q4 2025 earnings at $1.54 EPS and FY2025 earnings at $5.44 EPS.
Other equities analysts have also issued reports about the company. Keefe, Bruyette & Woods lifted their price objective on Independent Bank from $65.00 to $77.00 and gave the stock a "market perform" rating in a research note on Wednesday, December 4th. StockNews.com downgraded shares of Independent Bank from a "hold" rating to a "sell" rating in a research note on Tuesday, September 17th. Finally, Raymond James upgraded shares of Independent Bank from a "market perform" rating to a "strong-buy" rating and set a $74.00 target price for the company in a research note on Monday, October 21st. One research analyst has rated the stock with a sell rating, one has given a hold rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Independent Bank has a consensus rating of "Moderate Buy" and an average target price of $75.50.
Check Out Our Latest Analysis on Independent Bank
Independent Bank Stock Performance
INDB traded up $0.80 during trading on Wednesday, hitting $71.39. The stock had a trading volume of 397,915 shares, compared to its average volume of 278,669. The firm has a market cap of $3.03 billion, a PE ratio of 15.40 and a beta of 0.76. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.22. Independent Bank has a 12 month low of $45.11 and a 12 month high of $77.23. The company has a 50 day simple moving average of $66.78 and a 200-day simple moving average of $59.74.
Independent Bank (NASDAQ:INDB - Get Free Report) last released its quarterly earnings results on Thursday, October 17th. The bank reported $1.01 EPS for the quarter, beating analysts' consensus estimates of $0.99 by $0.02. The company had revenue of $250.07 million for the quarter, compared to analyst estimates of $173.24 million. Independent Bank had a net margin of 20.26% and a return on equity of 6.74%. During the same quarter last year, the firm posted $1.38 earnings per share.
Institutional Trading of Independent Bank
Institutional investors and hedge funds have recently modified their holdings of the company. Franklin Resources Inc. acquired a new stake in Independent Bank during the third quarter worth $2,060,000. World Investment Advisors LLC boosted its position in shares of Independent Bank by 2.4% during the 3rd quarter. World Investment Advisors LLC now owns 51,722 shares of the bank's stock valued at $3,058,000 after acquiring an additional 1,222 shares in the last quarter. Geode Capital Management LLC increased its stake in Independent Bank by 0.9% in the third quarter. Geode Capital Management LLC now owns 1,017,400 shares of the bank's stock valued at $60,170,000 after acquiring an additional 8,987 shares during the period. Barclays PLC raised its position in Independent Bank by 75.0% in the third quarter. Barclays PLC now owns 94,976 shares of the bank's stock worth $5,616,000 after purchasing an additional 40,697 shares in the last quarter. Finally, Dean Investment Associates LLC lifted its stake in Independent Bank by 52.8% during the third quarter. Dean Investment Associates LLC now owns 49,195 shares of the bank's stock worth $2,909,000 after purchasing an additional 16,993 shares during the period. 83.40% of the stock is currently owned by institutional investors.
Independent Bank Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Friday, October 4th. Stockholders of record on Monday, September 30th were issued a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a dividend yield of 3.19%. The ex-dividend date of this dividend was Monday, September 30th. Independent Bank's payout ratio is presently 49.57%.
About Independent Bank
(
Get Free Report)
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 in the United States. The company provides interest checking, money market, and savings accounts, as well as demand deposits and time certificates of deposit.
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