Seaport Res Ptn Issues Negative Estimate for INDB Earnings

Independent Bank Corp. (NASDAQ:INDB) – Seaport Res Ptn decreased their Q2 2025 earnings per share (EPS) estimates for Independent Bank in a research note issued to investors on Thursday, June 5th. Seaport Res Ptn analyst L. Hunsicker now anticipates that the bank will post earnings per share of $1.15 for the quarter, down from their prior forecast of $1.18. The consensus estimate for Independent Bank’s current full-year earnings is $5.41 per share.

Several other equities analysts have also recently weighed in on INDB. Keefe, Bruyette & Woods reduced their price target on Independent Bank from $80.00 to $72.00 and set a “market perform” rating for the company in a research report on Monday, April 21st. Wall Street Zen cut Independent Bank from a “hold” rating to a “sell” rating in a research report on Saturday, April 26th. Finally, Piper Sandler reduced their price target on Independent Bank from $74.00 to $63.00 and set a “neutral” rating for the company in a research report on Monday, April 21st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $71.00.

Independent Bank Stock Performance

NASDAQ:INDB opened at $65.63 on Monday. The company has a market capitalization of $2.80 billion, a P/E ratio of 14.52 and a beta of 0.84. Independent Bank has a 1 year low of $45.11 and a 1 year high of $77.23. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.95 and a quick ratio of 0.95. The business has a fifty day simple moving average of $59.98 and a two-hundred day simple moving average of $64.34.

Independent Bank (NASDAQ:INDB) last released its earnings results on Thursday, April 17th. The bank reported $1.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.18 by ($0.12). Independent Bank had a return on equity of 6.57% and a net margin of 19.58%. The firm had revenue of $178.04 million during the quarter, compared to analysts’ expectations of $175.03 million.

Hedge Funds Weigh In On Independent Bank

Several hedge funds and other institutional investors have recently added to or reduced their stakes in INDB. GAMMA Investing LLC grew its position in Independent Bank by 156.9% during the first quarter. GAMMA Investing LLC now owns 429 shares of the bank’s stock worth $27,000 after buying an additional 262 shares in the last quarter. Venturi Wealth Management LLC purchased a new position in Independent Bank during the fourth quarter worth about $62,000. Smartleaf Asset Management LLC grew its position in 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 buying an additional 542 shares in the last quarter. Quarry LP grew its position in Independent Bank by 1,328.6% during the first quarter. Quarry LP now owns 1,300 shares of the bank’s stock worth $81,000 after buying an additional 1,209 shares in the last quarter. Finally, Sterling Capital Management LLC grew its position in Independent Bank by 810.2% during the fourth quarter. Sterling Capital Management LLC now owns 1,338 shares of the bank’s stock worth $86,000 after buying an additional 1,191 shares in the last quarter. 83.40% of the stock is currently owned by hedge funds and other institutional investors.

Independent Bank Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 7th. Investors of record on Monday, March 31st were given a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 3.60%. This is a boost from Independent Bank’s previous quarterly dividend of $0.57. The ex-dividend date was Monday, March 31st. Independent Bank’s payout ratio is presently 53.15%.

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.