Independent Bank (INDB) Stock Forecast, Price Target & Predictions
INDB Stock Forecast
Independent Bank stock forecast is as follows: an average price target of $78.75 (represents a 27.34% upside from INDB’s last price of $61.84) 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 $78.75 based on 1-year price targets from 3 Wall Street analysts in the past 3 months, with a price target range of $100.00 to $65.00. This represents a potential 27.34% upside from INDB's last price of $61.84.
INDB Analyst Ratings
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% | 19.66% |
| Jul 22, 2024 | Laurie Havenar Husicker | Seaport Global | $65.00 | $58.05 | 11.97% | 5.11% |
| Dec 12, 2022 | Christopher McGratty | Independent Research | $100.00 | $89.02 | 12.33% | 61.71% |
| Jul 06, 2022 | - | Truist Financial | $76.00 | $81.14 | -6.33% | 22.90% |
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 19.66% increase from INDB last price ($61.84).
Independent Bank Price Target by Period
| 1M | 3M | 12M | |
|---|---|---|---|
| # Anlaysts | 1 | 1 | 2 |
| Avg Price Target | $74.00 | $74.00 | $69.50 |
| Last Closing Price | $61.84 | $61.84 | $61.84 |
| Upside/Downside | 19.66% | 19.66% | 12.39% |
In the current month, the average price target of Independent Bank stock is $74.00, according to 1 Wall Street analyst offering twelve months forecast. The average price target represents a 19.66% increase as opposed to Independent Bank's last price of $61.84. This month's average price target is down 0.00% compared to last quarter, and up 6.47% 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 | $212.26M | $205.16M | $196.35M | $189.49M | $187.70M | $183.36M | $177.15M | $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 | $212.85M | $205.73M | $196.90M | $190.02M | $188.22M | $183.88M | $177.64M | $172.84M | $174.73M | $174.69M | $169.10M | $171.81M | $177.32M | $181.30M | $183.36M | $192.90M | $197.17M | $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 | $211.66M | $204.58M | $195.79M | $188.95M | $187.17M | $182.85M | $176.65M | $170.58M | $173.37M | $174.09M | $168.15M | $170.85M | $175.62M | $180.28M | $182.33M | $191.82M | $196.06M | $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 | 2 | 2 | 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 $180.28M, and a high forecast of $181.30M. 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 | 2 | 2 | 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 | $90.52M | $87.49M | $83.73M | $80.81M | $80.05M | $78.20M | $75.55M | $73.23M | $74.23M | $74.37M | $71.91M | $103.45M | $75.26M | $77.10M | $77.98M | $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 | $90.77M | $87.74M | $83.97M | $81.03M | $80.27M | $78.42M | $75.76M | $73.71M | $74.52M | $74.50M | $72.11M | $124.14M | $75.62M | $77.32M | $78.20M | $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 | $90.26M | $87.25M | $83.50M | $80.58M | $79.82M | $77.98M | $75.33M | $72.75M | $73.94M | $74.24M | $71.71M | $82.76M | $74.90M | $76.88M | $77.76M | $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 % | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 1.06% | 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 $77.10M, with a high of $77.32M and a low of $76.88M. This is -6.82% 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 | 2 | 2 | 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 | $71.97M | $68.99M | $64.18M | $59.36M | $59.61M | $56.95M | $53.76M | $49.41M | $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 | $72.23M | $69.24M | $64.41M | $59.58M | $59.82M | $57.16M | $53.96M | $51.48M | $52.08M | $44.08M | $47.56M | $78.93M | $54.61M | $57.81M | $57.87M | $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 | $71.70M | $68.74M | $63.94M | $59.14M | $59.39M | $56.74M | $53.57M | $46.09M | $47.38M | $43.76M | $47.22M | $52.62M | $50.80M | $55.45M | $57.45M | $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 | 2 | 2 | 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 | $67.63M | $65.37M | $62.56M | $60.38M | $59.81M | $58.43M | $56.45M | $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 | $67.82M | $65.55M | $62.74M | $60.55M | $59.97M | $58.59M | $56.60M | $55.07M | $55.68M | $55.66M | $53.88M | $82.43M | $56.50M | $57.77M | $58.43M | $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 | $67.44M | $65.19M | $62.39M | $60.21M | $59.64M | $58.26M | $56.29M | $54.35M | $55.24M | $55.47M | $53.58M | $54.96M | $55.96M | $57.45M | $58.10M | $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 $57.45M to $57.77M. 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 | 2 | 2 | 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 | $1.69 | $1.62 | $1.51 | $1.40 | $1.40 | $1.34 | $1.26 | $1.16 | $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 | $1.70 | $1.63 | $1.52 | $1.40 | $1.41 | $1.34 | $1.27 | $1.21 | $1.23 | $1.04 | $1.12 | $1.15 | $1.28 | $1.36 | $1.36 | $1.53 | $1.66 | $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 | $1.69 | $1.62 | $1.50 | $1.39 | $1.40 | $1.34 | $1.26 | $1.08 | $1.11 | $1.03 | $1.11 | $1.15 | $1.20 | $1.30 | $1.35 | $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 |
|---|---|---|---|---|---|
| INDB | Independent Bank | $61.84 | $78.75 | 27.34% | Strong Buy |
| HONE | HarborOne Bancorp | $11.80 | $14.00 | 18.64% | Hold |
| NBHC | National Bank | $44.19 | $50.00 | 13.15% | Hold |
| HFWA | Heritage Financial | $23.23 | $26.00 | 11.92% | Hold |
| CFFN | Capitol Federal Financial | $6.32 | $7.00 | 10.76% | Hold |
| BFST | Business First Bancshares | $26.01 | $28.00 | 7.65% | Buy |
| FFNW | First Financial Northwest | $22.11 | $23.50 | 6.29% | Hold |
| FBNC | First Bancorp | $41.15 | $43.00 | 4.50% | Buy |
| FCCO | First Community | $23.42 | $21.00 | -10.33% | Buy |
| BSRR | Sierra Bancorp | $28.31 | $25.33 | -10.53% | Hold |
| BHLB | Berkshire Hills Bancorp | $27.06 | $23.50 | -13.16% | 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 $78.75 with a range of $65 to $100, implying a 27.34% from its last price of $61.84. 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 27.34% (from the last price of $61.84 to the average price target of $78.75), up by 61.71% based on the highest stock price target, and up by 5.11% based on the lowest stock price target.
Can Independent Bank stock reach $90?
INDB's highest twelve months analyst stock price target of $100 supports the claim that Independent Bank can reach $90 in the near future.
What is Independent Bank's current price target trend?
1 Wall Street analyst forecast a $74 price target for Independent Bank (INDB) this month, up 19.66% from its last price of $61.84. Compared to the last 3 and 12 months, the average price target increased by 19.66% and increased by 12.39%, respectively.
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 $719.92M (high $722.58M, low $717.24M), average EBITDA is $307.02M (high $308.15M, low $305.88M), average net income is $219.73M (high $222.43M, low $215.78M), average SG&A $229.4M (high $230.24M, low $228.54M), and average EPS is $5.17 (high $5.23, low $5.08). INDB's analysts financial forecasts for the fiscal year (Dec 2026) are as follows: average revenue is $803.25M (high $805.49M, low $800.98M), average EBITDA is $342.56M (high $343.51M, low $341.59M), average net income is $264.5M (high $265.46M, low $263.53M), average SG&A $255.95M (high $256.66M, low $255.22M), and average EPS is $6.22 (high $6.25, low $6.2).
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 $77.98M by 6.12%. 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%