Analyst Ratings for Independent Bank Corp. (INDB)

Updated: 2017-07-27

Shares of Independent Bank Corp. (NASDAQ:INDB) have received a consensus rating of Hold from Wall Street analysts. INDB had previously received a consensus rating of Hold a month ago.

Of the 5 analysts covering the stock, 1 gave it a buy rating, 0 gave an overweight rating, 3 gave a hold rating, 1 gave an underweight rating, and 0 issued a sell rating. Over the past 90 days, the number of analysts that are bullish on the stock has increased by 1. During this time, the number of analysts bearish on the stock has increased by 0.

A number of analysts gave price targets for INDB. The most optimistic price target was 74, implying potential capital gains of 3.35 percent. The minimum price target given was 62, which equates to a potential downside of -13.41 percent. Many analysts are not unbiased in their coverage of stocks, including price targets and stock ratings, so care must be taken in interpreting numbers released by them.

Analysts have revised their earnings estimates upwards for this quarter, by about 3.48 percent on average, compared to last month. This can be compared with the average change in earnings estimates over the past 3 months, which is 1.2 percent. On the other hand, earnings estimates for the fiscal year have been revised upwards by 3.74 percent, as compared to a month ago. If we look at the last 90 days instead, we find a net average change of 1.2 percent in FY estimates.

Another thing investors often look at is the level of agreement among analysts' revisions. Over the past month, 3 analysts increased their quarterly estimates, while 0 analysts revised their estimates downwards. Also over the last month, 1 analysts increased their estimates for the FY earnings, while 0 analysts made negative revisions to their fiscal year's estimates.

Analysts estimate earnings of INDB to grow at a rate of 19.92 percent. The PEG ratio of a stock is another value frequently studied by investors. Smaller PEG ratios are desirable, as that can indicate whether the high price level of a stock is warranted by high growth. Wall Street investors typically prefer a PEG ratio to be smaller than 1, though it could be better to see where the ratio stands relative to peers in the industry. INDB has a PEG ratio of 1.23.

INDB has a 52-week high of 73.15 and a 52-week low of 46.75. Currently the stock is 53.16 percent higher than its low, and 2.12 percent below the high. INDB has a P/E ratio of 24.44. Investors typically compare the P/E ratio to a company's peers in the industry. The INDB value stock report compares INDB to some of its peers using value stock charts. The market cap of INDB is $1.95 billion. INDB is estimated to release their earnings results for the quarter on 0000-00-00, days from today.