Seaport Res Ptn Expects Weaker Earnings for Independent Bank

Independent Bank Corp. (NASDAQ:INDB) – Equities researchers at Seaport Res Ptn dropped their Q1 2025 earnings estimates for shares of Independent Bank in a note issued to investors 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 quarterly earnings results on Thursday, January 16th. The bank reported $1.21 earnings per share 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 equities research analysts also recently commented on INDB. Raymond James reaffirmed a “strong-buy” rating and set a $78.00 price objective (up from $74.00) on shares of Independent Bank in a report on Tuesday, January 21st. StockNews.com raised shares of Independent Bank from a “sell” rating to a “hold” rating in a report on Friday, January 17th. Finally, Keefe, Bruyette & Woods lowered their price target on shares of 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 given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $79.00.

Independent Bank Price Performance

NASDAQ INDB opened at $69.80 on Thursday. The company has a market cap of $2.97 billion, a PE ratio of 15.44 and a beta of 0.77. Independent Bank has a 52 week low of $45.11 and a 52 week 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 firm’s 50-day simple moving average is $67.01 and its two-hundred day simple moving average is $64.36.

Independent Bank Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, January 6th. Investors of record on Monday, December 30th were given a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 3.27%. The ex-dividend date was Monday, December 30th. Independent Bank’s dividend payout ratio (DPR) is 50.44%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Geode Capital Management LLC grew its position in Independent Bank by 0.9% during the third quarter. Geode Capital Management LLC now owns 1,017,400 shares of the bank’s stock valued at $60,170,000 after acquiring an additional 8,987 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in Independent Bank by 4.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 544,948 shares of the bank’s stock valued at $34,980,000 after acquiring an additional 21,289 shares during the last quarter. JPMorgan Chase & Co. grew its position in Independent Bank by 59.8% during the third quarter. JPMorgan Chase & Co. now owns 338,640 shares of the bank’s stock valued at $20,024,000 after acquiring an additional 126,791 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its stake in shares of Independent Bank by 11.1% during 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 purchasing an additional 28,373 shares during the period. Finally, Principal Financial Group Inc. boosted its stake in shares of Independent Bank by 2.9% during the fourth quarter. Principal Financial Group Inc. now owns 206,079 shares of the bank’s stock valued at $13,228,000 after purchasing an additional 5,792 shares during the period. 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.