Seaport Res Ptn Issues Negative Estimate for INDB Earnings

Independent Bank Corp. (NASDAQ:INDB) – Seaport Res Ptn lowered their Q2 2025 earnings per share estimates for Independent Bank in a research report issued on Thursday, June 5th. Seaport Res Ptn analyst L. Hunsicker now forecasts that the bank will post earnings per share of $1.15 for the quarter, down from their prior estimate of $1.18. The consensus estimate for Independent Bank’s current full-year earnings is $5.41 per share.

A number of other research analysts have also weighed in on INDB. Keefe, Bruyette & Woods dropped their target price on Independent Bank from $80.00 to $72.00 and set a “market perform” rating on the stock in a report on Monday, April 21st. Wall Street Zen lowered Independent Bank from a “hold” rating to a “sell” rating in a report on Saturday, April 26th. Finally, Piper Sandler dropped their target price on Independent Bank from $74.00 to $63.00 and set a “neutral” rating on the stock in a report on Monday, April 21st. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Independent Bank has a consensus rating of “Moderate Buy” and a consensus price target of $71.00.

Independent Bank Stock Up 1.4%

INDB stock opened at $65.63 on Monday. Independent Bank has a twelve month low of $45.11 and a twelve month high of $77.23. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.23. The stock’s 50 day moving average is $59.98 and its 200-day moving average is $64.34. The firm has a market capitalization of $2.80 billion, a PE ratio of 14.52 and a beta of 0.84.

Independent Bank (NASDAQ:INDB) last announced its quarterly earnings data on Thursday, April 17th. The bank reported $1.06 EPS for the quarter, missing analysts’ consensus estimates of $1.18 by ($0.12). Independent Bank had a net margin of 19.58% and a return on equity of 6.57%. The firm had revenue of $178.04 million during the quarter, compared to analyst estimates of $175.03 million.

Independent Bank Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 7th. Investors of record on Monday, March 31st were issued a dividend of $0.59 per share. This is a positive change from Independent Bank’s previous quarterly dividend of $0.57. This represents a $2.36 dividend on an annualized basis and a yield of 3.60%. The ex-dividend date of this dividend was Monday, March 31st. Independent Bank’s dividend payout ratio (DPR) is 53.15%.

Institutional Trading of Independent Bank

Hedge funds have recently bought and sold shares of the business. GAMMA Investing LLC lifted its holdings in Independent Bank by 156.9% during the first quarter. GAMMA Investing LLC now owns 429 shares of the bank’s stock worth $27,000 after acquiring an additional 262 shares during the period. Venturi Wealth Management LLC bought a new stake in Independent Bank during the fourth quarter worth $62,000. Smartleaf Asset Management LLC lifted its holdings in Independent Bank by 105.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,056 shares of the bank’s stock worth $68,000 after acquiring an additional 542 shares during the period. Quarry LP lifted its holdings in Independent Bank by 1,328.6% during the first quarter. Quarry LP now owns 1,300 shares of the bank’s stock worth $81,000 after acquiring an additional 1,209 shares during the period. Finally, Sterling Capital Management LLC increased its position in Independent Bank by 810.2% in the fourth quarter. Sterling Capital Management LLC now owns 1,338 shares of the bank’s stock worth $86,000 after buying an additional 1,191 shares during the last quarter. 83.40% of the stock is currently owned by institutional investors.

About Independent Bank

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.