KBW analyst Christopher O’Connell maintained a Hold rating on Independent Bank (INDB – Research Report) today and set a price target of $60.00. The company’s shares closed last Friday at $50.56.
According to TipRanks, O’Connell is a 3-star analyst with an average return of 4.9% and a 42.86% success rate. O’Connell covers the Financial sector, focusing on stocks such as Lakeland Bancorp, Berkshire Hills, and Dime Community Bancshares.
Independent Bank has an analyst consensus of Hold, with a price target consensus of $59.00, implying a 16.69% upside from current levels. In a report released on April 19, Piper Sandler also assigned a Hold rating to the stock with a $58.00 price target.
The company has a one-year high of $67.44 and a one-year low of $41.48. Currently, Independent Bank has an average volume of 306.3K.
Based on the recent corporate insider activity of 61 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.
