Independent Bank (INDB) Stock Price, News & Analysis

Company Overview

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. It offers commercial real estate and construction, commercial and industrial, small business, secured and unsecured commercial, and consumer real estate loans; term loans and revolving/nonrevolving lines of credit; overdraft protection and letters of credit; and residential mortgages and home equity loans and lines. In addition, the company provides cash management services, such as ACH transaction processing, positive pay, and remote deposit services; investment management and trust services to individuals, institutions, small businesses, and charitable institutions; mobile, online, and telephone banking; estate settlement, financial planning, tax services, and other services; automated teller machines; debit and credit cards; and mutual fund and unit investment trust shares, third party model portfolios, general securities, fixed and variable annuities, and life insurance products, as well as advisory platforms. Further, it invests in low-income housing tax credit projects; holds, maintains, and disposes foreclosed properties; and operates as an investment advisor. Independent Bank Corp. was founded in 1907 and is headquartered in Rockland, Massachusetts.

Key Stats

• Today's Range: $63.50 to $65.37
• 50-Day Range: $60.72 to $70.29
• 52-Week Range: $45.11 to $77.23
• Volume: 317,805 shs
• Average Volume: 250,481 shs
• Market Capitalization: $2.78 billion
• P/E Ratio: 14.41
• Dividend Yield: 3.50%
• Price Target: $79.00
• Consensus Rating: Buy

Independent Bank Stock Analysis - MarketRank™

Independent Bank scored higher than 91% of companies evaluated by MarketBeat, and ranked 147th out of 939 stocks in the finance sector. Scores are calculated by averaging available category scores, with extra weight given to analysis and valuation.

Analyst's Opinion

• Score: 2.7 / 5
• Analyst Rating: Buy

Consensus Rating

Independent Bank has received a consensus rating of Buy. The company's average rating score is 3.33, and is based on no buy ratings, 1 hold rating, and no sell ratings.

Amount of Analyst Coverage

Independent Bank has only been the subject of 2 research reports in the past 90 days.

Earnings and Valuation

• Score: 3.8 / 5
• Proj. Earnings Growth: 23.84%

Earnings Growth

Earnings for Independent Bank are expected to grow by 23.84% in the coming year, from $5.41 to $6.70 per share.

Price to Earnings Ratio vs. the Market

The P/E ratio of Independent Bank is 14.41, which means that it is trading at a less expensive P/E ratio than the market average P/E ratio of about 23.58.

Price to Earnings Ratio vs. Sector

The P/E ratio of Independent Bank is 14.41, which means that it is trading at a less expensive P/E ratio than the Finance sector average P/E ratio of about 22.96.

Price to Book Value per Share Ratio

Independent Bank has a P/B Ratio of 0.92. P/B Ratios below 1 indicate that a company could be undervalued with respect to its assets and liabilities.

Short Interest

• Score: 2.0 / 5
• Short Interest Level: Bearish

Percentage of Shares Shorted

3.44% of the float of Independent Bank has been sold short.

Short Interest Ratio / Days to Cover

Independent Bank has a short interest ratio ("days to cover") of 5.5.

Change versus previous month

Short interest in Independent Bank has recently increased by 13.28%, indicating that investor sentiment is decreasing significantly.

Dividend

• Score: 5.0 / 5
• Dividend Strength: Strong

Dividend Leadership

Independent Bank is a leading dividend payer. It pays a dividend yield of 3.56%, putting its dividend yield in the top 25% of dividend-paying stocks.

Dividend Growth

Independent Bank has been increasing its dividend for 15 years.

Dividend Coverage

The dividend payout ratio of Independent Bank is 50.44%. This payout ratio is at a healthy, sustainable level, below 75%.

Dividend Sustainability

Based on earnings estimates, Independent Bank will have a dividend payout ratio of 34.03% next year. This indicates that Independent Bank will be able to sustain or increase its dividend.

Sustainability and ESG

• Score: N/A
• Environmental Score: N/A

Percentage of Shares Shorted

3.44% of the float of Independent Bank has been sold short.

Short Interest Ratio / Days to Cover

Independent Bank has a short interest ratio ("days to cover") of 5.5.

Change versus previous month

Short interest in Independent Bank has recently increased by 13.28%, indicating that investor sentiment is decreasing significantly.

News and Social Media

• Score: 3.4 / 5
• News Sentiment: 1.19

News Sentiment

Independent Bank has a news sentiment score of 1.19. This score is calculated as an average of sentiment of articles about the company over the last seven days and ranges from 2 (good news) to -2 (bad news). This is a higher news sentiment than the 0.94 average news sentiment score of Finance companies.

News Coverage This Week

MarketBeat has tracked 9 news articles for Independent Bank this week, compared to 4 articles on an average week.

Search Interest

3 people have searched for INDB on MarketBeat in the last 30 days. This is an increase of 200% compared to the previous 30 days.

Company Ownership

• Score: 2.5 / 5
• Insider Trading: Selling Shares

Insider Buying vs. Insider Selling

In the past three months, Independent Bank insiders have sold more of their company's stock than they have bought. Specifically, they have bought $0.00 in company stock and sold $44,819.00 in company stock.

Percentage Held by Insiders

Only 0.87% of the stock of Independent Bank is held by insiders.

Percentage Held by Institutions

83.40% of the stock of Independent Bank is held by institutions. High institutional ownership can be a signal of strong market trust in this company.

INDB Stock Analysis - Frequently Asked Questions

How have INDB shares performed this year?

Independent Bank's stock was trading at $64.19 on January 1st, 2025. Since then, INDB shares have increased by 1.5% and is now trading at $65.15.
View the best growth stocks for 2025 here.

How were Independent Bank's earnings last quarter?

Independent Bank Corp. (NASDAQ:INDB) released its earnings results on Thursday, January, 16th. The bank reported $1.21 EPS for the quarter, topping analysts' consensus estimates of $1.16 by $0.05. Independent Bank had a net margin of 19.58% and a trailing twelve-month return on equity of 6.57%.

Who are Independent Bank's major shareholders?

Top institutional shareholders of Independent Bank include Vanguard Group Inc. (11.81%), Dimensional Fund Advisors LP (5.46%), Geode Capital Management LLC (2.38%) and Deprince Race & Zollo Inc. (2.23%). Insiders that own company stock include Christopher Oddleifson, Barry H Jensen, Robert D Cozzone, Jeffrey J Tengel, Eileen C Miskell, Donna L Abelli, John J Morrissey, Mark J Ruggiero, Edward H Seksay, Scott Smith and Lee C Powlus.
View institutional ownership trends.

How do I buy shares of Independent Bank?

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.

What other stocks do shareholders of Independent Bank own?

Based on aggregate information from My MarketBeat watchlists, some other companies that Independent Bank investors own include NVIDIA (NVDA), Meta Platforms (META), Advanced Micro Devices (AMD), Netflix (NFLX), Broadcom (AVGO), Tesla (TSLA) and First Solar (FSLR).

Company Calendar

• Ex-Dividend for 1/6 Dividend: 12/30/2024
• Dividend Payable: 1/06/2025
• Last Earnings: 1/16/2025
• Today: 3/24/2025
• Ex-Dividend for 4/7 Dividend: 3/31/2025
• Dividend Payable: 4/07/2025
• Next Earnings (Estimated): 4/17/2025
• Fiscal Year End: 12/31/2025

Industry, Sector and Symbol

• Stock Exchange: NASDAQ
• Sector: Finance
• Industry: State commercial banks
• Sub-Industry: Regional Banks
• Current Symbol: NASDAQ:INDB
• CIK: 776901
• Web: www.rocklandtrust.com
• Phone: (781) 878-6100
• Fax: 781-982-6130
• Employees: 1,787
• Year Founded: 1864

Price Target and Rating

• Average Stock Price Target: $79.00
• High Stock Price Target: $80.00
• Low Stock Price Target: $78.00
• Potential Upside/Downside: +21.3%
• Consensus Rating: Buy
• Rating Score (0-4): 3.33
• Research Coverage: 3 Analysts

Profitability

• EPS (Most Recent Fiscal Year): $4.52
• Trailing P/E Ratio: 14.41
• Forward P/E Ratio: 12.04
• P/E Growth: N/A
• Net Income: $192.08 million
• Net Margins: 19.58%
• Pretax Margin: 25.20%
• Return on Equity: 6.57%
• Return on Assets: 1.00%

Debt

• Debt-to-Equity Ratio: 0.23
• Current Ratio: 0.95
• Quick Ratio: 0.95

Sales & Book Value

• Annual Sales: $683.11 million
• Price / Sales: 4.06
• Cash Flow: $5.89 per share
• Price / Cash Flow: 11.06
• Book Value: $70.44 per share
• Price / Book: 0.92

Miscellaneous

• Outstanding Shares: 42,605,000
• Free Float: 42,123,000
• Market Cap: $2.78 billion
• Optionable: Optionable
• Beta: 0.77