Independent Bank (INDB) Stock Forecast, Price Target & Predictions

OverviewRevenue Ownership Financials Chart Transcripts

INDB Stock Forecast

Independent Bank stock forecast is as follows: an average price target of $69.50 (represents a 5.27% upside from INDB’s last price of $66.02) and a rating consensus of 'Strong Buy', based on 3 wall street analysts offering a 1-year stock forecast.

INDB Price Target

The average price target for Independent Bank (INDB) is $69.50 based on 1-year price targets from 3 Wall Street analysts in the past 3 months, with a price target range of $74.00 to $65.00. This represents a potential 5.27% upside from INDB's last price of $66.02.

INDB Analyst Ratings

Strong Buy

According to 3 Wall Street analysts, Independent Bank's rating consensus is 'Strong Buy'. The analyst rating breakdown for INDB stock is 1 'Strong Buy' (33.33%), 1 'Buy' (33.33%), 1 'Hold' (33.33%), 0 'Sell' (0.00%), and 0 'Strong Sell' (0.00%).

Independent Bank Price Target by Analyst

Date	Analyst	Company	Price Target	Price when Published	Price Target/Price when Published	Price Target/Last Closing Price
Oct 21, 2024	Steve Moss	Raymond James	$74.00	$61.57	20.19%	12.09%
Jul 22, 2024	Laurie Havenar Husicker	Seaport Global	$65.00	$58.05	11.97%	-1.54%
Dec 12, 2022	Christopher McGratty	Independent Research	$100.00	$89.02	12.33%	51.47%
Jul 06, 2022		Truist Financial	$76.00	$81.14	-6.33%	15.12%

The latest Independent Bank stock forecast, released on Oct 21, 2024 by Steve Moss from Raymond James, set a price target of $74.00, which represents a 20.19% increase from the stock price at the time of the forecast ($61.57), and a 12.09% increase from INDB last price ($66.02).

Independent Bank Price Target by Period

	1M	3M	12M
# Anlaysts	-	1	2
Avg Price Target	-	$74.00	$69.50
Last Closing Price	$66.02	$66.02	$66.02
Upside/Downside	-100.00%	12.09%	5.27%

In the current month, the average price target of Independent Bank stock is -, according to 0 Wall Street analyst offering twelve months forecast. The average price target represents a -100.00% decrease as opposed to Independent Bank's last price of $66.02. This month's average price target is down -100.00% compared to last quarter, and down -100.00% compared to last year.

Analyst Ratings Upgrades/Downgrades

Date	Company	Previous Rating	New Rating	Rating Change
Oct 22, 2024	Seaport Global	Buy	Buy	Hold
Oct 21, 2024	Raymond James	Market Perform	Strong Buy	Upgrade
Jul 22, 2024	Keefe, Bruyette & Woods	Market Perform	Market Perform	Hold
Jul 22, 2024	Seaport Global		Buy	Upgrade
Apr 22, 2024	Keefe, Bruyette & Woods	Market Perform	Market Perform	Hold
Dec 20, 2022	Raymond James		Market Perform	Initialise
Dec 13, 2022	Keefe, Bruyette & Woods		Market Perform	Downgrade

Independent Bank's last stock rating was published by Seaport Global on Oct 22, 2024. The company gave INDB a "Buy" rating, the same as its previous rate.

Independent Bank Financial Forecast

Independent Bank Revenue Forecast

	Dec 26	Sep 26	Jun 26	Mar 26	Dec 25	Sep 25	Jun 25	Mar 25	Dec 24	Sep 24	Jun 24	Mar 24	Dec 23	Sep 23	Jun 23	Mar 23	Dec 22	Sep 22	Jun 22	Mar 22	Dec 21	Sep 21	Jun 21	Mar 21	Dec 20	Sep 20	Jun 20	Mar 20	Dec 19	Sep 19
Revenue	-	-	-	-	-	-	-	-	-	-	-	-	-	-	$183.30M	$187.24M	$200.66M	$190.80M	$1.86M	$1.76M	$151.71M	$115.20M	$118.32M	$120.83M	$117.88M	$119.55M	$119.29M	$118.94M	$129.07M	$136.41M
Avg Forecast	$269.15M	$261.75M	$252.24M	$243.06M	$214.79M	$183.69M	$176.35M	$171.72M	$174.06M	$174.39M	$168.62M	$171.34M	$176.47M	$180.79M	$182.85M	$192.37M	$196.62M	$185.53M	$168.93M	$166.27M	$141.16M	$116.22M	$117.92M	$121.02M	$122.34M	$122.50M	$121.08M	$124.22M	$132.22M	$132.57M
High Forecast	$269.18M	$261.78M	$252.27M	$243.09M	$214.82M	$183.72M	$176.37M	$171.78M	$174.73M	$174.69M	$168.65M	$171.36M	$177.32M	$180.82M	$182.87M	$192.39M	$196.64M	$185.53M	$168.93M	$166.27M	$141.16M	$116.22M	$117.92M	$121.02M	$122.34M	$122.50M	$121.08M	$124.22M	$132.22M	$132.57M
Low Forecast	$269.11M	$261.72M	$252.20M	$243.03M	$214.76M	$183.67M	$176.32M	$171.65M	$173.37M	$174.09M	$168.60M	$171.31M	$175.62M	$180.77M	$182.82M	$192.34M	$196.59M	$185.53M	$168.93M	$166.27M	$141.16M	$116.22M	$117.92M	$121.02M	$122.34M	$122.50M	$121.08M	$124.22M	$132.22M	$132.57M
# Analysts	1	1	1	1	1	1	1	1	1	1	1	1	2	1	1	1	1	1	1	1	1	1	1	1	9	8	7	6	5	5
Surprise %	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1.00%	0.97%	1.02%	1.03%	0.01%	0.01%	1.07%	0.99%	1.00%	1.00%	0.96%	0.98%	0.99%	0.96%	0.98%	1.03%

Independent Bank's average Quarter revenue forecast for Sep 23 based on 1 analysts is $180.79M, with a low forecast of $180.77M, and a high forecast of $180.82M. INDB's average Quarter revenue forecast represents a -1.37% decrease compared to the company's last Quarter revenue of $183.30M (Jun 23).

Independent Bank EBITDA Forecast

	Dec 26	Sep 26	Jun 26	Mar 26	Dec 25	Sep 25	Jun 25	Mar 25	Dec 24	Sep 24	Jun 24	Mar 24	Dec 23	Sep 23	Jun 23	Mar 23	Dec 22	Sep 22	Jun 22	Mar 22	Dec 21	Sep 21	Jun 21	Mar 21	Dec 20	Sep 20	Jun 20	Mar 20	Dec 19	Sep 19
# Analysts	1	1	1	1	1	1	1	1	1	1	1	1	2	1	1	1	1	1	1	1	1	1	1	1	9	8	7	6	5	5
EBITDA	-	-	-	-	-	-	-	-	-	-	-	-	-	-	$82.75M	$109.27M	$116.06M	$102.44M	$95.30M	$83.51M	$10.51M	$65.29M	$61.49M	$65.93M	$56.74M	$60.07M	$48.67M	$48.97M	$81.08M	$92.80M
Avg Forecast	$93.63M	$91.06M	$87.75M	$84.56M	$74.72M	$63.91M	$61.35M	$59.74M	$60.55M	$60.67M	$58.66M	$103.45M	$61.39M	$62.90M	$63.61M	$94.05M	$6.59M	$79.12M	$72.04M	$85.50M	$60.20M	$49.56M	$50.29M	$55.65M	$52.17M	$52.24M	$51.64M	$65.84M	$56.38M	$56.54M
High Forecast	$93.65M	$91.07M	$87.76M	$84.57M	$74.73M	$63.91M	$61.36M	$59.76M	$60.79M	$60.77M	$58.67M	$124.14M	$61.69M	$62.91M	$63.62M	$112.86M	$7.91M	$79.12M	$72.04M	$102.60M	$60.20M	$49.56M	$50.29M	$66.78M	$52.17M	$52.24M	$51.64M	$79.01M	$56.38M	$56.54M
Low Forecast	$93.62M	$91.05M	$87.74M	$84.55M	$74.71M	$63.90M	$61.34M	$59.72M	$60.32M	$60.56M	$58.66M	$82.76M	$61.10M	$62.89M	$63.60M	$75.24M	$5.27M	$79.12M	$72.04M	$68.40M	$60.20M	$49.56M	$50.29M	$44.52M	$52.17M	$52.24M	$51.64M	$52.67M	$56.38M	$56.54M
Surprise %	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1.30%	1.16%	17.62%	1.29%	1.32%	0.98%	0.17%	1.32%	1.22%	1.18%	1.09%	1.15%	0.94%	0.74%	1.44%	1.64%

1 analysts predict INDB's average Quarter EBITDA for Sep 23 to be $62.90M, with a high of $62.91M and a low of $62.89M. This is -23.99% lower than Independent Bank's previous annual EBITDA (Jun 23) of $82.75M.

Independent Bank Net Income Forecast

	Dec 26	Sep 26	Jun 26	Mar 26	Dec 25	Sep 25	Jun 25	Mar 25	Dec 24	Sep 24	Jun 24	Mar 24	Dec 23	Sep 23	Jun 23	Mar 23	Dec 22	Sep 22	Jun 22	Mar 22	Dec 21	Sep 21	Jun 21	Mar 21	Dec 20	Sep 20	Jun 20	Mar 20	Dec 19	Sep 19
# Analysts	1	1	1	1	1	1	1	1	1	1	1	1	2	1	1	1	1	1	1	1	1	1	1	1	9	8	7	6	5	5
Net Income	-	-	-	-	-	-	-	-	-	-	-	-	-	-	$62.64M	$61.25M	$77.04M	$71.90M	$61.78M	$53.10M	$1.70M	$40.01M	$37.57M	$41.71M	$34.64M	$34.87M	$24.90M	$26.75M	$47.48M	$51.84M
Avg Forecast	$76.40M	$73.63M	$69.60M	$64.28M	$61.41M	$48.88M	$52.49M	$48.98M	$49.51M	$43.92M	$47.39M	$65.78M	$52.91M	$56.63M	$57.66M	$59.80M	$1.07M	$60.17M	$53.52M	$54.36M	$46.72M	$43.32M	$45.87M	$35.21M	$43.66M	$30.37M	$26.44M	$35.97M	$59.25M	$59.89M
High Forecast	$76.41M	$73.65M	$69.61M	$64.29M	$61.42M	$48.88M	$52.50M	$50.62M	$52.08M	$43.93M	$47.40M	$78.93M	$54.61M	$57.81M	$57.67M	$71.76M	$1.28M	$60.17M	$55.75M	$65.23M	$46.72M	$43.32M	$47.33M	$42.25M	$43.66M	$30.37M	$26.44M	$43.16M	$59.25M	$59.89M
Low Forecast	$76.38M	$73.62M	$69.58M	$64.27M	$61.40M	$48.87M	$52.48M	$45.31M	$47.38M	$43.92M	$47.38M	$52.62M	$50.80M	$55.45M	$57.65M	$47.84M	$853.72K	$60.17M	$51.28M	$43.49M	$46.72M	$43.32M	$44.41M	$28.16M	$43.66M	$30.37M	$26.44M	$28.77M	$59.25M	$59.89M
Surprise %	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1.09%	1.02%	72.19%	1.19%	1.15%	0.98%	0.04%	0.92%	0.82%	1.18%	0.79%	1.15%	0.94%	0.74%	0.80%	0.87%

Independent Bank's average Quarter net income forecast for Sep 23 is $56.63M, with a range of $55.45M to $57.81M. INDB's average Quarter net income forecast represents a -9.60% decrease compared to the company's last Quarter net income of $62.64M (Jun 23).

Independent Bank SG&A Forecast

	Dec 26	Sep 26	Jun 26	Mar 26	Dec 25	Sep 25	Jun 25	Mar 25	Dec 24	Sep 24	Jun 24	Mar 24	Dec 23	Sep 23	Jun 23	Mar 23	Dec 22	Sep 22	Jun 22	Mar 22	Dec 21	Sep 21	Jun 21	Mar 21	Dec 20	Sep 20	Jun 20	Mar 20	Dec 19	Sep 19
# Analysts	1	1	1	1	1	1	1	1	1	1	1	1	2	1	1	1	1	1	1	1	1	1	1	1	9	8	7	6	5	5
SG&A	-	-	-	-	-	-	-	-	-	-	-	-	-	-	$56.65M	$59.59M	$55.48M	$56.64M	$53.53M	$52.89M	$50.88M	$47.79M	$47.01M	$44.57M	$45.20M	$43.98M	$41.80M	$41.80M	$42.53M	$43.75M
Avg Forecast	$85.76M	$83.40M	$80.37M	$77.45M	$68.44M	$58.53M	$56.19M	$54.72M	$55.46M	$55.57M	$53.73M	$68.69M	$56.23M	$57.61M	$58.26M	$62.45M	$31.90M	$59.12M	$53.83M	$56.77M	$44.98M	$37.03M	$37.58M	$37.62M	$38.98M	$39.03M	$38.58M	$56.20M	$42.13M	$42.24M
High Forecast	$85.77M	$83.42M	$80.38M	$77.46M	$68.45M	$58.54M	$56.20M	$54.74M	$55.68M	$55.66M	$53.74M	$82.43M	$56.50M	$57.62M	$58.27M	$74.94M	$38.28M	$59.12M	$53.83M	$68.13M	$44.98M	$37.03M	$37.58M	$45.15M	$38.98M	$39.03M	$38.58M	$67.44M	$42.13M	$42.24M
Low Forecast	$85.75M	$83.39M	$80.36M	$77.44M	$68.43M	$58.52M	$56.18M	$54.69M	$55.24M	$55.47M	$53.72M	$54.96M	$55.96M	$57.60M	$58.26M	$49.96M	$25.52M	$59.12M	$53.83M	$45.42M	$44.98M	$37.03M	$37.58M	$30.10M	$38.98M	$39.03M	$38.58M	$44.96M	$42.13M	$42.24M
Surprise %	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0.97%	0.95%	1.74%	0.96%	0.99%	0.93%	1.13%	1.29%	1.25%	1.18%	1.16%	1.13%	1.08%	0.74%	1.01%	1.04%

Independent Bank's average Quarter SG&A projection for Sep 23 is $57.61M, based on 1 Wall Street analysts, with a range of $57.60M to $57.62M. The forecast indicates a 1.69% rise compared to INDB last annual SG&A of $56.65M (Jun 23).

Independent Bank EPS Forecast

	Dec 26	Sep 26	Jun 26	Mar 26	Dec 25	Sep 25	Jun 25	Mar 25	Dec 24	Sep 24	Jun 24	Mar 24	Dec 23	Sep 23	Jun 23	Mar 23	Dec 22	Sep 22	Jun 22	Mar 22	Dec 21	Sep 21	Jun 21	Mar 21	Dec 20	Sep 20	Jun 20	Mar 20	Dec 19	Sep 19
# Analysts	1	1	1	1	1	1	1	1	1	1	1	1	2	1	1	1	1	1	1	1	1	1	1	1	9	8	7	6	5	5
EPS	-	-	-	-	-	-	-	-	-	-	-	-	-	-	$1.42	$1.36	$1.69	$1.57	$1.32	$1.12	$0.04	$1.21	$1.14	$1.26	$1.05	$1.06	$0.76	$0.78	$1.38	$1.51
Avg Forecast	$1.80	$1.73	$1.64	$1.51	$1.45	$1.15	$1.24	$1.15	$1.17	$1.03	$1.11	$1.15	$1.25	$1.33	$1.36	$1.50	$1.65	$1.42	$1.26	$1.26	$1.10	$1.02	$1.08	$1.09	$1.03	$0.71	$0.62	$1.19	$1.40	$1.41
High Forecast	$1.80	$1.73	$1.64	$1.51	$1.45	$1.15	$1.24	$1.19	$1.23	$1.03	$1.12	$1.15	$1.28	$1.36	$1.36	$1.53	$1.65	$1.42	$1.31	$1.26	$1.10	$1.02	$1.11	$1.09	$1.03	$0.71	$0.62	$1.19	$1.40	$1.41
Low Forecast	$1.80	$1.73	$1.64	$1.51	$1.44	$1.15	$1.23	$1.07	$1.11	$1.03	$1.11	$1.15	$1.20	$1.30	$1.36	$1.46	$1.65	$1.42	$1.21	$1.26	$1.10	$1.02	$1.05	$1.09	$1.03	$0.71	$0.62	$1.19	$1.40	$1.41
Surprise %	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1.05%	0.91%	1.02%	1.11%	1.05%	0.89%	0.04%	1.19%	1.06%	1.15%	1.02%	1.48%	1.22%	0.65%	0.99%	1.07%

According to 1 Wall Street analysts, Independent Bank's projected average Quarter EPS for Sep 23 is $1.33, with a low estimate of $1.30 and a high estimate of $1.36. This represents a -6.16% decrease compared to INDB previous annual EPS of $1.42 (Jun 23).

Independent Bank Peer Comparison by Price Target

Ticker	Company	Last Closing Price	Avg Price Target	Upside/Downside	Avg Rating
HONE	HarborOne Bancorp	$12.72	$14.00	10.06%	Hold
NBHC	National Bank	$45.56	$50.00	9.75%	Hold
CFFN	Capitol Federal Financial	$6.46	$7.00	8.36%	Hold
FFNW	First Financial Northwest	$21.85	$23.50	7.55%	Hold
BFST	Business First Bancshares	$27.02	$28.00	3.63%	Buy
HFWA	Heritage Financial	$25.67	$26.00	1.29%	Hold
INDB	Independent Bank	$69.48	$69.50	0.03%	Strong Buy
FBNC	First Bancorp	$47.35	$43.00	-9.19%	Buy
BSRR	Sierra Bancorp	$30.73	$25.33	-17.57%	Hold
FCCO	First Community	$25.95	$21.00	-19.08%	Buy
BHLB	Berkshire Hills Bancorp	$29.13	$23.50	-19.33%	Hold

INDB Forecast FAQ

Is Independent Bank a good buy?

Yes, according to 3 Wall Street analysts, Independent Bank (INDB) is considered a 'Strong Buy'. The rating consensus is based on 1 'Strong Buy' and 1 'Buy' recommendations, accounting for 66.67% of INDB's total ratings.

What is INDB's price target?

Independent Bank (INDB) average price target is $69.5 with a range of $65 to $74, implying a 5.27% from its last price of $66.02. The data is based on 3 Wall Street analysts who provided a twelve-month price target estimate in the last three months.

Will Independent Bank stock go up soon?

According to Wall Street analysts' prediction for INDB stock, the company can go up by 5.27% (from the last price of $66.02 to the average price target of $69.5), up by 12.09% based on the highest stock price target, and down by -1.54% based on the lowest stock price target.

Can Independent Bank stock reach $100?

INDB's average twelve months analyst stock price target of $69.5 does not support the claim that Independent Bank can reach $100 in the near future.

What are Independent Bank's analysts' financial forecasts?

Independent Bank's analysts financial forecasts for the fiscal year (Dec 2025) are as follows: average revenue is $746.55M (high $746.69M, low $746.4M), average EBITDA is $259.72M (high $259.77M, low $259.67M), average net income is $211.76M (high $213.42M, low $208.06M), average SG&A $237.88M (high $237.92M, low $237.83M), and average EPS is $4.98 (high $5.02, low $4.9). INDB's analysts financial forecasts for the fiscal year (Dec 2026) are as follows: average revenue is $1.03B (high $1.03B, low $1.03B), average EBITDA is $357.01M (high $357.05M, low $356.96M), average net income is $283.91M (high $283.96M, low $283.86M), average SG&A $326.99M (high $327.03M, low $326.94M), and average EPS is $6.68 (high $6.68, low $6.68).

Did the INDB's actual financial results beat the analysts' financial forecasts?

Based on Independent Bank's last annual report (Dec 2022), the company's revenue was $727.92M, beating the average analysts forecast of $717.34M by 1.47%. Apple's EBITDA was $377.34M, beating the average prediction of $243.25M by 55.13%. The company's net income was $263.81M, beating the average estimation of $169.11M by 56.00%. Apple's SG&A was $211.66M, beating the average forecast of $201.62M by 4.98%. Lastly, the company's EPS was $8, beating the average prediction of $5.59 by 43.13%. In terms of the last quarterly report (Jun 2023), Independent Bank's revenue was $183.3M, beating the average analysts' forecast of $182.85M by 0.25%. The company's EBITDA was $82.75M, beating the average prediction of $63.61M by 30.08%. Independent Bank's net income was $62.64M, beating the average estimation of $57.66M by 8.64%. The company's SG&A was $56.65M, missing the average forecast of $58.26M by -2.77%. Lastly, the company's EPS was $1.42, beating the average prediction of $1.36 by 4.67%