Seaport Res Ptn Issues Negative Forecast for INDB Earnings

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

Independent Bank (NASDAQ:INDB) last issued 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 return on equity of 6.57%.

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

Independent Bank Stock Performance

NASDAQ INDB opened at $70.29 on Thursday. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.95 and a quick ratio of 0.95. Independent Bank has a 1 year low of $45.11 and a 1 year high of $77.23. The company has a market capitalization of $2.99 billion, a PE ratio of 15.55 and a beta of 0.77. The company has a fifty day moving average of $67.06 and a two-hundred day moving average of $64.32.

Independent Bank Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, January 6th. Stockholders of record on Monday, December 30th were paid a dividend of $0.57 per share. The ex-dividend date of this dividend was Monday, December 30th. This represents a $2.28 annualized dividend and a dividend yield of 3.24%. Independent Bank’s dividend payout ratio (DPR) is 50.44%.

Institutional Investors Weigh In On Independent Bank

Hedge funds have recently made changes to their positions in the business. BNP Paribas Financial Markets raised its holdings in Independent Bank by 106.0% during the third quarter. BNP Paribas Financial Markets now owns 25,077 shares of the bank’s stock worth $1,483,000 after purchasing an additional 12,904 shares in the last quarter. Centiva Capital LP purchased a new position in Independent Bank in the third quarter valued at about $535,000. JPMorgan Chase & Co. increased its holdings in Independent Bank by 59.8% in the third quarter. JPMorgan Chase & Co. now owns 338,640 shares of the bank’s stock valued at $20,024,000 after buying an additional 126,791 shares in the last quarter. Eastern Bank increased its holdings in Independent Bank by 454.7% in the third quarter. Eastern Bank now owns 23,237 shares of the bank’s stock valued at $1,374,000 after buying an additional 19,048 shares in the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its holdings in Independent Bank by 11.1% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 283,661 shares of the bank’s stock valued at $16,773,000 after buying an additional 28,373 shares in the last quarter. Institutional investors and hedge funds 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.