Independent Bank (NASDAQ:INDB) Stock, Quote.Headers.trade-ideas

Independent Bank

Independent Bank Corp is a bank holding company and the sole shareholder of its bank, the Rockland Trust Company. Rockland is a community-oriented commercial bank. The bank provides a variety of banking, investment and financial services, operating with various retail branches, as well as a network of commercial and residential lending centers, and investment management offices majorly in Eastern Massachusetts, Worcester County, and Rhode Island. The bank's loan portfolio constitutes the bulk of the bank's total assets. Its borrowers consist mostly of small to medium-size businesses and consumers, majority of which are made to its market area in eastern Massachusetts and Rhode Island. The bank's loan portfolio is predominantly in commercial loans.

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INDB

Independent Bank Corp. (NASDAQ: INDB) appears an attractive pick, as it has been recently upgraded to a Zacks Rank #1 (Strong Buy). This upgrade is essentially a reflection of an upward trend in earnings estimates -- one of the most powerful forces impacting stock prices.

Independent Bank Corp. Upgraded to Strong Buy: Here&#39;s What You Should Know

Independent Bank Corp. (NASDAQ: INDB) appears an attractive pick given a noticeable improvement in the company&#39;s earnings outlook. The stock has been a strong performer lately, and the momentum might continue with analysts still raising their earnings estimates for the company.

Can Independent Bank Corp. Run Higher on Rising Earnings Estimates?

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US banks with large CRE loan portfolios face increased regulatory scrutiny, but NYCB stands out with steady growth despite exceeding threshold.

Banks With High Commercial Real Estate Loan Exposure In Regulatory Spotlight: Valley National Bancorp And 15 Others To Watch

Independent Bank Corp

Independent Bank Corp. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/indb#NASDAQ">INDB</a>) appears an attractive pick, as it has been recently upgraded to a Zacks Rank #1 (Strong Buy). This upgrade is essentially a reflection of an upward trend in earnings estimates -- one of the most powerful forces impacting stock prices.
The Zacks rating relies solely on a company&#39;s changing earnings picture. It tracks EPS estimates for the current and following years from the sell-side analysts covering the stock through a consensus measure -- the Zacks Consensus Estimate.
Individual investors often find it hard to make decisions based on rating upgrades by Wall Street analysts, since these are mostly driven by subjective factors that are hard to see and measure in real time. In these situations, the Zacks rating system comes in handy because of the power of a changing earnings picture in determining near-term stock price movements.
Therefore, the Zacks rating upgrade for Independent Bank Corp. basically reflects positivity about its earnings outlook that could translate into buying pressure and an increase in its stock price.
<h2>Most Powerful Force Impacting Stock Prices</h2>
The change in a company&#39;s future earnings potential, as reflected in earnings estimate revisions, and the near-term price movement of its stock are proven to be strongly correlated. The influence of institutional investors has a partial contribution to this relationship, as these big professionals use earnings and earnings estimates to calculate the fair value of a company&#39;s shares. An increase or decrease in earnings estimates in their valuation models simply results in higher or lower fair value for a stock, and institutional investors typically buy or sell it. Their bulk investment action then leads to price movement for the stock.
Fundamentally speaking, rising earnings estimates and the consequent rating upgrade for Independent Bank Corp. imply an improvement in the company&#39;s underlying business. Investors should show their appreciation for this improving business trend by pushing the stock higher.
<h2>Harnessing the Power of Earnings Estimate Revisions</h2>
As empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock movements, tracking such revisions for making an investment decision could be truly rewarding. Here is where the tried-and-tested Zacks Rank stock-rating system plays an important role, as it effectively harnesses the power of earnings estimate revisions.
The Zacks Rank stock-rating system, which uses four factors related to earnings estimates to classify stocks into five groups, ranging from Zacks Rank #1 (Strong Buy) to Zacks Rank #5 (Strong Sell), has an impressive externally-audited track record, with Zacks Rank #1 stocks generating an average annual return of +25% since 1988.
<h2>Earnings Estimate Revisions for Independent Bank Corp.</h2>
This holding company for Rockland Trust is expected to earn $4.75 per share for the fiscal year ending December 2024, which represents a year-over-year change of -12.4%.
Analysts have been steadily raising their estimates for Independent Bank Corp. Over the past three months, the Zacks Consensus Estimate for the company has increased 6.5%.
<h2>Bottom Line</h2>
Unlike the overly optimistic Wall Street analysts whose rating systems tend to be weighted toward favorable recommendations, the Zacks rating system maintains an equal proportion of &#39;buy&#39; and &#39;sell&#39; ratings for its entire universe of more than 4000 stocks at any point in time. Irrespective of market conditions, only the top 5% of the Zacks-covered stocks get a &#39;Strong Buy&#39; rating and the next 15% get a &#39;Buy&#39; rating. So, the placement of a stock in the top 20% of the Zacks-covered stocks indicates its superior earnings estimate revision feature, making it a solid candidate for producing market-beating returns in the near term.
The upgrade of Independent Bank Corp. to a Zacks Rank #1 positions it in the top 5% of the Zacks-covered stocks in terms of estimate revisions, implying that the stock might move higher in the near term.
<a href="https://www.zacks.com/stock/news/2333004/independent-bank-corp-indb-upgraded-to-strong-buy-here-s-what-you-should-know?cid=CS-BENZ-FT-tale_of_the_tape|yseop_template_12_zacks_rank_upgrade-2333004">To read this article on Zacks.com click here.</a>

Independent Bank Corp. Upgraded to Strong Buy: Here's What You Should Know

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Shares of banking companies are trading higher amid overall market strength following Fed Chair Powell's comments about the economy and future rate cuts.

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Shares of banking companies are trading lower amid overall market weakness on US economic concerns.

Independent Bank Corp. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/indb#NASDAQ">INDB</a>) appears an attractive pick given a noticeable improvement in the company&#39;s earnings outlook. The stock has been a strong performer lately, and the momentum might continue with analysts still raising their earnings estimates for the company.
The upward trend in estimate revisions for this holding company for Rockland Trust reflects growing optimism of analysts on its earnings prospects, which should get reflected in its stock price. After all, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements. Our stock rating tool -- the Zacks Rank -- is principally built on this insight.
The five-grade Zacks Rank system, which ranges from a Zacks Rank #1 (Strong Buy) to a Zacks Rank #5 (Strong Sell), has an impressive externally-audited track record of outperformance, with Zacks #1 Ranked stocks generating an average annual return of +25% since 2008.
For Independent Bank Corp. There has been strong agreement among the covering analysts in raising earnings estimates, which has helped push consensus estimates considerably higher for the next quarter and full year.
The chart below shows the evolution of forward 12-month Zacks Consensus EPS estimate:
12 Month EPS
<img alt="" class="chart" src="https://chart-service.zacks.com/images/weekly/yesop_12_month_eps/INDB.png" style="width:100%" title="" />
Current-Quarter Estimate Revisions
The company is expected to earn $1.20 per share for the current quarter, which represents a year-over-year change of -13.04%.
Over the last 30 days, the Zacks Consensus Estimate for Independent Bank Corp. has increased 9.09% because three estimates have moved higher compared to no negative revisions.
Current-Year Estimate Revisions
For the full year, the company is expected to earn $4.75 per share, representing a year-over-year change of -12.36%.
In terms of estimate revisions, the trend for the current year also appears quite encouraging for Independent Bank Corp. Over the past month, three estimates have moved higher compared to no negative revisions, helping the consensus estimate increase 6.5%.
Favorable Zacks Rank
Thanks to promising estimate revisions, Independent Bank Corp. currently carries a Zacks Rank #1 (Strong Buy). The Zacks Rank is a tried-and-tested rating tool that helps investors effectively harness the power of earnings estimate revisions and make the right investment decision.
Our research shows that stocks with Zacks Rank #1 (Strong Buy) and 2 (Buy) significantly outperform the S&amp;P 500.
Bottom Line
Investors have been betting on Independent Bank Corp. because of its solid estimate revisions, as evident from the stock&#39;s 32% gain over the past four weeks. As its earnings growth prospects might push the stock higher, you may consider adding it to your portfolio right away.
<a href="https://www.zacks.com/stock/news/2309313/can-independent-bank-corp-indb-run-higher-on-rising-earnings-estimates?cid=CS-BENZ-FT-tale_of_the_tape|yseop_template_8-2309313">To read this article on Zacks.com click here.</a>

Seaport Global analyst Laurie Havener Hunsicker upgrades Independent Bank (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INDB#NASDAQ">INDB</a>) from Neutral to Buy and announces $65 price target.

Price Target

Seaport Global Upgrades Independent Bank to Buy, Announces $65 Price Target

Independent Bank (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INDB#NASDAQ">INDB</a>) reported quarterly earnings of $1.21 per share which beat the analyst consensus estimate of $1.11 by 9.01 percent. This is a 14.79 percent decrease over earnings of $1.42 per share from the same period last year.

Earnings Beats

Independent Bank Q2 EPS $1.21 Beats $1.11 Estimate

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Shares of several banks are trading higher amid continued volatility following earning reports from several companies within the sector reported last last week.

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Shares of banking stocks are trading higher following recent CPI data.

Keefe, Bruyette &amp; Woods analyst Christopher O'Connell maintains Independent Bank (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INDB#NASDAQ">INDB</a>) with a Market Perform and lowers the price target from $64 to $60.

Keefe, Bruyette & Woods Maintains Market Perform on Independent Bank, Lowers Price Target to $60

Independent Bank (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INDB#NASDAQ">INDB</a>) reported quarterly earnings of $1.12 per share which missed the analyst consensus estimate of $1.15 by 2.61 percent. The company reported quarterly sales of $167.382 million which missed the analyst consensus estimate of $170.118 million by 1.61 percent. This is a 10.61 percent decrease over sales of $187.240 million the same period last year.

Earnings Misses

Independent Bank Q1 2024 Adj EPS $1.12 Misses $1.15 Estimate, Sales $167.382M Miss $170.118M Estimate

Independent Bank (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INDB#NASDAQ">INDB</a>) reported quarterly earnings of $1.12 per share which missed the analyst consensus estimate of $1.15 by 2.61 percent.

Independent Bank Q1 2024 Adj EPS $1.12 Misses $1.15 Estimate

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&bull; Infosys (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/INFY#NYSE">INFY</a>) is likely to report quarterly earnings at $0.17 per share on revenue of $4.55 billion.
&bull; Berkshire Hills Bancorp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BHLB#NYSE">BHLB</a>) is expected to report quarterly earnings at $0.47 per share on revenue of $89.01 million.
&bull; Ally Financial (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALLY#NYSE">ALLY</a>) is estimated to report quarterly earnings at $0.41 per share on revenue of $1.98 billion.
&bull; Genuine Parts (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GPC#NYSE">GPC</a>) is estimated to report quarterly earnings at $2.16 per share on revenue of $5.84 billion.
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&bull; Blackstone (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BX#NYSE">BX</a>) is expected to report quarterly earnings at $0.98 per share on revenue of $2.53 billion.
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&bull; Five Point Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FPH#NYSE">FPH</a>) is expected to report earnings for its first quarter.
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&bull; Independent Bank (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INDB#NASDAQ">INDB</a>) is estimated to report quarterly earnings at $1.11 per share on revenue of $174.77 million.
&bull; Banco Latinoamericano (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BLX#NYSE">BLX</a>) is expected to report earnings for its first quarter.
&bull; Glacier Bancorp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GBCI#NYSE">GBCI</a>) is expected to report quarterly earnings at $0.34 per share on revenue of $171.99 million.
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&bull; SB Finl Gr (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SBFG#NASDAQ">SBFG</a>) is estimated to report quarterly earnings at $0.30 per share on revenue of $9.50 million.
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This article was generated by Benzinga&#39;s automated content engine and reviewed by an editor.

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Earnings Scheduled For April 18, 2024

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Shares of companies in the broader financial sector are trading lower amid overall market weakness following hotter-than-expected March inflation data.

The Board of Directors of Independent Bank Corp. (Nasdaq Global Select Market: INDB), parent of Rockland Trust Company, today announced a $0.57 per share dividend, representing a $0.02 increase from the prior quarter. The dividend will be payable on April 5, 2024, to stockholders of record as of the close of business on April 1, 2024.
"The 4% increase in our dividend is a reflection of the Company's strong capital and long term value creation for our shareholders," stated Jeffrey Tengel, Chief Executive Officer of Independent Bank Corp.

Dividends

Independent Bank Corp. Announces Increase In Quarterly Dividend From $0.55 To $0.57 Per Share

More than a dozen banks in the U.S. find themselves under the keen eye of financial watchdogs due to their sizable portfolios of commercial <a href="https://www.benzinga.com/topic/commercial-real-estate">real estate (CRE) loans.</a>
The Federal Reserve, Federal Deposit Insurance Corp. and Office of the Comptroller of the Currency jointly indicated their intent to scrutinize banks with CRE loan portfolios exceeding triple their capital and with growth that has exceeded 50% over the past three years. 
New York Community Bancorp, Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NYCB#NYSE">NYCB</a>) is not among institutions deserving increasing scrutiny. Despite having a CRE loan to total capital ratio of 462% — surpassing the regulatory concern threshold of 300% — NYCB&#8217;s portfolio growth of 25% over the past five years keeps it below the critical 50% growth threshold that watchdogs find alarming. 
This distinction is particularly noteworthy in light of NYCB&#8217;s recent underperformance and increased investor scrutiny following a lackluster earnings report earlier this month.
<h3 class="wp-block-heading">Regional Banks Under the Microscope </h3>
A Bloomberg <a href="https://www.bloomberg.com/news/articles/2024-02-15/which-banks-may-face-scrutiny-of-commercial-real-estate-exposure?srnd=premium&amp;sref=TBDibEcD">analysis</a> of federal data spanning over 350 bank holding companies highlighted that numerous smaller lenders have attracted increased regulatory scrutiny. This is because they&#8217;ve rapidly built up significantly large concentrations in their CRE portfolios in recent years.
Valley National Bancorp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VLY#NASDAQ">VLY</a>) is identified as the largest institution that fits the criteria for heightened regulatory examination, with a staggering 80% growth in CRE loans over the past three years and an exposure that constitutes 471% of its total capital. 
Alongside Valley National, other banks such as HomeStreet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HMST#NASDAQ">HMST</a>), First Foundation Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FFWM#NASDAQ">FFWM</a>), Dime Community Bancshares Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DCOM#NASDAQ">DCOM</a>), Bridgewater Bancshares Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BWB#NASDAQ">BWB</a>), Hometown Financial Group MHC, Axos Financial Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AX#NYSE">AX</a>), OceanFirst Financial Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OCFC#NASDAQ">OCFC</a>), First Bancshares Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FBMS#NASDAQ">FBMS</a>), Chemung Financial Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHMG#NASDAQ">CHMG</a>), Watford City Bancshares Inc., Civista Bancshares Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CIVB#NASDAQ">CIVB</a>), BCI Financial Group Inc., Veritex Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VBTX#NASDAQ">VBTX</a>), ServisFirst Bancshares Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SFBS#NYSE">SFBS</a>), Independent Bank Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INDB#NASDAQ">INDB</a>), Southern Missouri Bancorp Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMBC#NASDAQ">SMBC</a>), QCR Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QCRH#NASDAQ">QCRH</a>) and Enterprise Bancorp Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EBTC#NASDAQ">EBTC</a>) are slated for closer inspection by regulators.
<h3 class="wp-block-heading">Market Reactions</h3>
Despite the regulatory cloud hanging over these institutions, the broader regional bank industry, as monitored by the SPDR S&amp;P Regional Banking ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KRE#NYSE">KRE</a>), witnessed a 2.4% uptick on Thursday. 
This surge is attributed to a confluence of factors, including some positive news derived from the latest 13F filings and the market anticipation of Federal Reserve rate cuts prompted by <a href="https://www.benzinga.com/markets/equities/24/02/37156844/retail-sales-sink-in-january-manufacturing-indicators-improve-jobless-claims-fall-thursdays-econ">disappointing retail sales data.</a>
A couple of renowned fund managers added exposure to New York Community Bancorp in the fourth quarter of 2023. Notable among them is Soros Fund Management, which escalated its stake to 1,476,180 shares, valued at $15 million by the quarter&#8217;s end. Similarly, AQR Capital Management and Millennium Management substantially increased their holdings in New York Community Bancorp. 
Read now: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/02/37139816/2008-big-short-oracle-burry-bets-big-on-chinese-giants-backs-google-amazons-ai-wave">2008 &#8216;Big Short&#8217; Oracle Burry Bets Big On Chinese Giants, Backs Google, Amazon&#8217;s AI Wave</a>

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Shares of several bank stocks are trading lower after January CPI data showed a greater-than-expected rise in inflation, which increased uncertainty surrounding future rate cuts.

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Shares of banking companies are trading lower amid overall market weakness after the Federal Reserve left rates unchanged.

Keefe, Bruyette &amp; Woods analyst Christopher O'Connell maintains Independent Bank (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INDB#NASDAQ">INDB</a>) with a Market Perform and lowers the price target from $66 to $64.

Keefe, Bruyette & Woods Maintains Market Perform on Independent Bank, Lowers Price Target to $64-Report Released on 21 January 2024

Independent Bank (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INDB#NASDAQ">INDB</a>) reported its Q4 earnings results on Thursday, January 18, 2024 at 04:15 PM.
Here's what investors need to know about the announcement.
<h3>Earnings</h3>
Independent Bank beat estimated earnings by 1.61%, reporting an EPS of $1.26 versus an estimate of $1.24.
Revenue was down $23.49 million from the same period last year.
<h3>Past Earnings Performance</h3>
Last quarter the company beat on EPS by $0.05 which was followed by a 4.58% drop in the share price the next day.
Here's a look at Independent Bank's past performance:

<table>
<thead>
<tr>
<th>Quarter</th>
<th>Q3 2023</th>
<th>Q2 2023</th>
<th>Q1 2023</th>
<th>Q4 2022</th>
</tr>
</thead>
<tbody>
<tr>
<td>EPS Estimate</td>
<td>1.33</td>
<td>1.36</td>
<td>1.54</td>
<td>1.65</td>
</tr>
<tr>
<td>EPS Actual</td>
<td>1.38</td>
<td>1.42</td>
<td>1.36</td>
<td>1.69</td>
</tr>
<tr>
<td>Revenue Estimate</td>
<td>180.79M</td>
<td>182.85M</td>
<td>192.73M</td>
<td>196.62M</td>
</tr>
<tr>
<td>Revenue Actual</td>
<td>183.42M</td>
<td>183.30M</td>
<td>187.24M</td>
<td>200.66M</td>
</tr>
</tbody>
</table>

To track all earnings releases for Independent Bank <a href="https://www.benzinga.com/quote/INDB/earnings">visit their earnings calendar here.</a> 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Independent Bank: Q4 Earnings Insights

Independent Bank (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INDB#NASDAQ">INDB</a>) reported quarterly earnings of $1.26 per share which beat the analyst consensus estimate of $1.24 by 1.61 percent. This is a 25.44 percent decrease over earnings of $1.69 per share from the same period last year. The company reported quarterly sales of $177.16 million which missed the analyst consensus estimate of $177.34 million by 0.10 percent. This is a 11.71 percent decrease over sales of $200.66 million the same period last year.

Independent Bank Q4 EPS $1.26 Beats $1.24 Estimate, Sales $177.16M Miss $177.34M Estimate

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
Independent Bank (NASDAQ:<a href="https://investorplace.com/stock-quotes/indb-stock-quote/">INDB</a>) just reported results for the second quarter of 2024.<ul><li>Independent Bank reported earnings per share of $1.21. This was above the analyst estimate for EPS of $1.11.</li><li>The company reported revenue of $170.26 million.</li><li>This was 0.97% better than the analyst estimate for revenue of $168.62 million.</li></ul><div>InvestorPlace Earnings is a project that leverages data from <a href="https://www.tradesmith.com">TradeSmith</a> to automate coverage of quarterly earnings reports. InvestorPlace Earnings distills key takeaways including earnings per share and revenue, as well as how a company stacks up to analyst estimates. These articles are published without human intervention, allowing us to inform our readers of the latest figures as quickly as possible. To report any concerns or inaccuracies, please contact us at <a href="mailto:editor@investorplace.com">editor@investorplace.com</a>.</div><h3>More From InvestorPlace</h3>
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	The post <a href="https://investorplace.com/earning-results/2024/07/indb-stock-earnings-independent-bank-for-q2-of-2024/">INDB Stock Earnings: Independent Bank Beats EPS, Beats Revenue for Q2 2024</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

INDB Stock Earnings: Independent Bank Beats EPS, Beats Revenue for Q2 2024

Independent Bank (INDB) Gets a Hold from KBW

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FFBC

Press Releases

Independent Bank Corp. Reports Fourth Quarter Net Income of $54.8 Million

Independent Bank Corp. CEO Jeffrey Tengel, President Gerard Nadeau and CFO Mark J. Ruggiero to Participate in the 2024 KBW Winter Financial Services Conference

Independent Bank Corp. CEO Jeffrey Tengel and CFO Mark J. Ruggiero to Participate in the 2024 RBC Capital Markets Global Financial Institutions Conference

Independent Bank Corp. Announces 4% Increase in Quarterly Dividend

Independent Bank Corp.'s Announcement of Date of First Quarter Conference Call

Independent Bank Corp. Reports First Quarter Net Income of $47.8 Million

Independent Bank Corp. Announces Quarterly Dividend

Independent Bank Corp.'s Announcement of Date of Second Quarter Conference Call

Independent Bank Corp. Reports Second Quarter Net Income of $51.3 Million

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