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 6,809 funds
–
Analysts bullish %
Fund manager confidence
Based on 2024 Q3 regulatory filings by fund managers ($100M+ AUM)
27% more first-time investments, than exits
New positions opened: 38 | Existing positions closed: 30
12% more capital invested
Capital invested by funds: $1.8B [Q2] → $2.01B (+$216M) [Q3]
3% more funds holding
Funds holding: 279 [Q2] → 287 (+8) [Q3]
3.34% less ownership
Funds ownership: 83.41% [Q2] → 80.07% (-3.34%) [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
12%
upside
Avg. target
$78
18%
upside
High target
$82
24%
upside
2 analyst ratings
1 positive
50%
1 neutral
50%
0 negative
0%
Keefe, Bruyette & Woods Christopher O'Connell 70% 1-year accuracy 16 / 23 met price target | 24%upside $82 | Market Perform Maintained | 12 Dec 2024 |
Raymond James Steve Moss 88% 1-year accuracy 14 / 16 met price target | 12%upside $74 | Strong Buy Upgraded | 21 Oct 2024 |
Financial journalist opinion
Based on 5 articles about INDB published over the past 30 days
Neutral
Business Wire
3 days 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.
Neutral
Business Wire
1 week ago
Independent Bank Corp. Announces Quarterly Dividend
ROCKLAND, Mass.--(BUSINESS WIRE)--The Board of Directors of Independent Bank Corp. (Nasdaq Global Select Market: INDB), parent of Rockland Trust Company, today announced a $0.57 per share dividend. The dividend will be payable on January 6, 2025, to stockholders of record as of the close of business on December 30, 2024. Independent Bank Corp. (NASDAQ Global Select Market: INDB) is the holding company for Rockland Trust Company, a full-service commercial bank headquartered in Massachusetts. Wit.
Neutral
Business Wire
1 week ago
ENTERPRISE BANCORP INVESTOR ALERT by the Former Attorney General of Louisiana: Kahn Swick & Foti, LLC Investigates Adequacy of Price and Process in Proposed Sale of Enterprise Bancorp, Inc. - EBTC
NEW ORLEANS--(BUSINESS WIRE)--Former Attorney General of Louisiana Charles C. Foti, Jr., Esq. and the law firm of Kahn Swick & Foti, LLC (“KSF”) are investigating the proposed sale of Enterprise Bancorp, Inc. (NasdaqGS: EBTC) to Independent Bank Corp. (NasdaqGS: INDB). Under the terms of the proposed transaction, shareholders of Enterprise will receive 0.60 shares of Independent and $2.00 in cash for each share of Enterprise that they own. KSF is seeking to determine whether this considerat.
Positive
Zacks Investment Research
1 week ago
INDB to Buy Enterprise Bancorp, Expand Footprint in Lucrative Markets
Independent Bank is set to buy Enterprise Bancorp, expanding its presence in lucrative Northern MA & Southern NH markets.
Neutral
Business Wire
1 week ago
Independent Bank Corp. and Enterprise Bancorp, Inc. Sign Merger Agreement for Rockland Trust to Acquire Enterprise Bank
ROCKLAND, Mass. & LOWELL, Mass.--(BUSINESS WIRE)--Independent Bank Corp. (NASDAQ Global Select Market : INDB) (“Independent”), parent of Rockland Trust Company (“Rockland Trust”), and Enterprise Bancorp, Inc. (NASDAQ Global Select Market: EBTC) (“Enterprise”), parent of Enterprise Bank and Trust Company (“Enterprise Bank”), have signed a definitive merger agreement pursuant to which Enterprise will merge into Independent and Enterprise Bank will merge into Rockland Trust in a cash and stock tra.
Neutral
Seeking Alpha
2 months ago
Independent Bank Corp. (INDB) Q3 2024 Earnings Call Transcript
Independent Bank Corp. (NASDAQ:INDB ) Q3 2024 Results Conference Call October 18, 2024 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 Third Quarter 2024 Earnings Call Conference Call. All participants will be in listen only mode.
Positive
Zacks Investment Research
2 months ago
Compared to Estimates, Independent Bank Corp. (INDB) Q3 Earnings: A Look at Key Metrics
The headline numbers for Independent Bank Corp. (INDB) give insight into how the company performed in the quarter ended September 2024, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.
Positive
Zacks Investment Research
2 months ago
Independent Bank Corp. (INDB) Surpasses Q3 Earnings and Revenue Estimates
Independent Bank Corp. (INDB) came out with quarterly earnings of $1.01 per share, beating the Zacks Consensus Estimate of $0.99 per share. This compares to earnings of $1.38 per share a year ago.
Neutral
Business Wire
2 months ago
Independent Bank Corp. Reports Third Quarter Net Income of $42.9 Million
ROCKLAND, Mass.--(BUSINESS WIRE)--Independent Bank Corp. (Nasdaq Global Select Market: INDB), parent of Rockland Trust Company, today announced 2024 third quarter net income of $42.9 million, or $1.01 per diluted share, compared to 2024 second quarter net income of $51.3 million, or $1.21 per diluted share. The decline in net income was largely attributable to an increase in the Company's loan loss provision compared to the prior quarter, partially mitigated by higher revenue levels. The increa.
Negative
Zacks Investment Research
2 months ago
Analysts Estimate Independent Bank Corp. (INDB) to Report a Decline in Earnings: What to Look Out for
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.
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