Independent BankINDB
INDB
About: Independent Bank Corp is a bank holding company and the sole shareholder of its bank, the Rockland Trust Company. Rockland is a community-oriented commercial bank. The bank provides a variety of banking, investment and financial services, operating with various retail branches, as well as a network of commercial and residential lending centers, and investment management offices majorly in Eastern Massachusetts, Worcester County, and Rhode Island. The bank's loan portfolio constitutes the bulk of the bank's total assets. Its borrowers consist mostly of small to medium-size businesses and consumers, majority of which are made to its market area in eastern Massachusetts and Rhode Island. The bank's loan portfolio is predominantly in commercial loans.
Employees: 1,787
0
Funds holding %
of 6,823 funds
–
Analysts bullish %
Fund manager confidence
Based on 2024 Q3 regulatory filings by fund managers ($100M+ AUM)
41% more first-time investments, than exits
New positions opened: 38 | Existing positions closed: 27
12% more capital invested
Capital invested by funds: $1.81B [Q2] → $2.03B (+$225M) [Q3]
3% more funds holding
Funds holding: 279 [Q2] → 287 (+8) [Q3]
3.04% less ownership
Funds ownership: 83.91% [Q2] → 80.86% (-3.04%) [Q3]
15% less repeat investments, than reductions
Existing positions increased: 94 | Existing positions reduced: 111
63% less call options, than puts
Call options by funds: $17K | Put options by funds: $46K
Research analyst outlook
2 Wall Street Analysts provided 1 year price targets over the past 3 months
Low target
$74
10%
upside
Avg. target
$78
16%
upside
High target
$82
22%
upside
2 analyst ratings
1 positive
50%
1 neutral
50%
0 negative
0%
Keefe, Bruyette & Woods Christopher O'Connell 63% 1-year accuracy 15 / 24 met price target | 22%upside $82 | Market Perform Maintained | 12 Dec 2024 |
Raymond James Steve Moss 88% 1-year accuracy 14 / 16 met price target | 10%upside $74 | Strong Buy Upgraded | 21 Oct 2024 |
Financial journalist opinion
Based on 9 articles about INDB published over the past 30 days
Neutral
Seeking Alpha
3 days ago
Independent Bank Corp. (INDB) Q4 2024 Earnings Call Transcript
Independent Bank Corp. (NASDAQ:INDB ) Q4 2024 Results Conference Call January 17, 2025 10:00 AM ET Company Participants Jeff Tengel - CEO Mark Ruggiero - CFO & Head of Consumer Lending Conference Call Participants Steve Moss - Raymond James Mark Fitzgibbon - Piper Sandler Laurie Hunsicker - Seaport Research Christopher O'Connell - KBW Operator Good day, and welcome to the Independent Bank Corp Fourth Quarter 2024 Earnings Call. [Operator Instructions].
Positive
Zacks Investment Research
4 days ago
Independent Bank Corp. (INDB) Q4 Earnings: Taking a Look at Key Metrics Versus Estimates
The headline numbers for Independent Bank Corp. (INDB) give insight into how the company performed in the quarter ended December 2024, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.
Positive
Seeking Alpha
4 days ago
Independent Bank: Another Regional Bank Delivering
Independent Bank Corp.'s Q4 earnings were strong, with revenues flat and EPS surpassing expectations, boosted by lower credit loss provisions and better margins. Loan and deposit growth were positive, with loans up 1% and deposits up 0.7%, indicating strong performance and future potential. Asset quality mostly improved, with nonperforming assets slightly down and better return metrics, though allowance for credit losses ticked up slightly.
Positive
Zacks Investment Research
4 days ago
Independent Bank Corp. (INDB) Surpasses Q4 Earnings and Revenue Estimates
Independent Bank Corp. (INDB) came out with quarterly earnings of $1.21 per share, beating the Zacks Consensus Estimate of $1.16 per share. This compares to earnings of $1.26 per share a year ago.
Neutral
Business Wire
4 days ago
Independent Bank Corp. Reports Fourth Quarter Net Income of $50.0 Million
ROCKLAND, Mass.--(BUSINESS WIRE)--Independent Bank Corp. (Nasdaq Global Select Market: INDB), parent of Rockland Trust Company, today announced 2024 fourth quarter net income of $50.0 million, or $1.18 per diluted share, as compared to 2024 third quarter net income of $42.9 million, or $1.01 per diluted share. Financial results for the fourth quarter of 2024 also reflected pre-tax merger-related costs of $1.9 million associated with the Company's pending acquisition of Enterprise Bancorp, Inc.
Positive
Zacks Investment Research
1 week ago
Independent Bank Corp. (INDB) Q4 Earnings Preview: What You Should Know Beyond the Headline Estimates
Besides Wall Street's top -and-bottom-line estimates for Independent Bank Corp. (INDB), review projections for some of its key metrics to gain a deeper understanding of how the company might have fared during the quarter ended December 2024.
Negative
Zacks Investment Research
1 week ago
Independent Bank Corp. (INDB) Loses -12.92% in 4 Weeks, Here's Why a Trend Reversal May be Around the Corner
Independent Bank Corp. (INDB) is technically in oversold territory now, so the heavy selling pressure might have exhausted. This along with strong agreement among Wall Street analysts in raising earnings estimates could lead to a trend reversal for the stock.
Negative
Zacks Investment Research
1 week ago
Earnings Preview: Independent Bank Corp. (INDB) Q4 Earnings Expected to Decline
Independent Bank Corp. (INDB) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
Neutral
Business Wire
2 weeks ago
Independent Bank Corp.'s Announcement of Date of Fourth Quarter Conference Call
ROCKLAND, Mass.--(BUSINESS WIRE)--Independent Bank Corp. (Nasdaq Global Select Market: INDB), parent of Rockland Trust Company, will host its quarterly conference call to discuss fourth quarter results on Friday, January 17, 2025, at 10:00 AM Eastern Time. Telephonic access will be available by dial-in at 888-336-7153 reference: INDB. Participants may also choose to pre-register for the conference by navigating to https://dpregister.com/sreg/10194177/fde0484bd2 which will provide a unique PIN t.
Neutral
Business Wire
1 month ago
KBRA Comments on Enterprise Bancorp, Inc.'s Proposed Merger Agreement with Independent Bank Corp.
NEW YORK--(BUSINESS WIRE)-- #creditratingagency--On December 9, 2024, Rockland, MA-based Independent Bank Corp. (NASDAQ: INDB) (“Independent”), parent company of Rockland Trust Company (“Rockland Trust”), and Lowell, MA-based Enterprise Bancorp, Inc. (NASDAQ: EBTC) (“Enterprise”)(KBRA senior unsecured debt rating: BBB / Stable Outlook), parent company of Enterprise Bank and Trust Company (“Enterprise Bank”), jointly announced the signing of a definitive merger agreement pursuant to which Enterprise will merge into I.
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