Seaport Res Ptn Issues Negative Forecast for INDB Earnings

Independent Bank Corp. (NASDAQ:INDB) – Stock analysts at Seaport Res Ptn reduced their Q1 2025 earnings per share (EPS) estimates for shares of Independent Bank in a research report issued on Monday, February 3rd. Seaport Res Ptn analyst L. Hunsicker now forecasts that the bank will post earnings of $1.20 per share for the quarter, down from their previous forecast of $1.24. The consensus estimate for Independent Bank’s current full-year earnings is $5.42 per share.

Independent Bank (NASDAQ:INDB) last posted its quarterly earnings data on Thursday, January 16th. The bank reported $1.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.16 by $0.05. Independent Bank had a return on equity of 6.57% and a net margin of 19.58%.

INDB has been the topic of several other reports. Raymond James restated a “strong-buy” rating and set a $78.00 target price (up from $74.00) on shares of Independent Bank in a report on Tuesday, January 21st. StockNews.com upgraded Independent Bank from a “sell” rating to a “hold” rating in a report on Friday, January 17th. Finally, Keefe, Bruyette & Woods lowered their target price on Independent Bank from $82.00 to $80.00 and set a “market perform” rating on the stock in a report on Tuesday, January 21st. Two analysts have rated the stock with a hold rating and two have issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Buy” and an average target price of $79.00.

Independent Bank Trading Up 1.8 %

INDB stock opened at $70.29 on Thursday. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.23. Independent Bank has a 12-month low of $45.11 and a 12-month high of $77.23. The stock has a market cap of $2.99 billion, a price-to-earnings ratio of 15.55 and a beta of 0.77. The business’s 50-day moving average is $67.06 and its 200 day moving average is $64.32.

Independent Bank Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, January 6th. Investors of record on Monday, December 30th were issued a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 3.24%. The ex-dividend date was Monday, December 30th. Independent Bank’s dividend payout ratio is presently 50.44%.

Institutional Trading of Independent Bank

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Venturi Wealth Management LLC purchased a new stake in shares of Independent Bank during the fourth quarter worth $62,000. Smartleaf Asset Management LLC increased its position in shares of 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. KBC Group NV increased its position in shares of Independent Bank by 34.5% during the fourth quarter. KBC Group NV now owns 1,911 shares of the bank’s stock worth $123,000 after acquiring an additional 490 shares during the period. ST Germain D J Co. Inc. increased its position in shares of Independent Bank by 364.9% during the fourth quarter. ST Germain D J Co. Inc. now owns 2,213 shares of the bank’s stock worth $142,000 after acquiring an additional 1,737 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Independent Bank during the third quarter worth $222,000. Hedge funds and other institutional investors own 83.40% of the company’s stock.

Independent Bank Company Profile

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.