Piper Sandler analyst Mark Fitzgibbon maintained a Hold rating on Independent Bank (INDB – Research Report) today and set a price target of $65.00. The company’s shares closed last Friday at $51.84.
Fitzgibbon covers the Financial sector, focusing on stocks such as NY Community, Metropolitan Bank Holding, and Independent Bank. According to TipRanks, Fitzgibbon has an average return of 2.6% and a 50.26% success rate on recommended stocks.
Currently, the analyst consensus on Independent Bank is a Hold with an average price target of $64.50.
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Based on Independent Bank’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $183.42 million and a net profit of $60.81 million. In comparison, last year the company earned a revenue of $190.8 million and had a net profit of $71.9 million
Based on the recent corporate insider activity of 70 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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