In a report released yesterday, Christopher O’Connell from KBW maintained a Hold rating on Independent Bank (INDB – Research Report), with a price target of $64.00. The company’s shares opened today at $60.55.
O’Connell covers the Financial sector, focusing on stocks such as Kearny Financial, Lakeland Bancorp, and Amalgamated Bank. According to TipRanks, O’Connell has an average return of 22.3% and a 70.83% success rate on recommended stocks.
Currently, the analyst consensus on Independent Bank is a Hold with an average price target of $64.50, implying a 6.52% upside from current levels. In a report released on January 19, Piper Sandler also maintained a Hold rating on the stock with a $65.00 price target.
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INDB market cap is currently $2.64B and has a P/E ratio of 11.11.
Based on the recent corporate insider activity of 66 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of INDB in relation to earlier this year.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Independent Bank (INDB) Company Description:
Independent Bank Corp. operates as a bank holding company. The company provides commercial banking, retail banking, and wealth management services and is engaged in sale of retail investments and insurance products in Massachusetts. It offers deposit products, including demand deposits, interest checking, money market accounts, savings accounts and time certificates of deposit. The company provides real estate loans, which include commercial mortgages that are secured by non-residential properties; residential mortgages that are secured primarily by owner-occupied residences; and mortgages for the construction of commercial and residential properties. Independent Bank was founded in 1985 and is headquartered in Rockland, MA.
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