"Our fourth-quarter performance marked the culmination of another remarkable year, with our organization excelling on all fundamentals," said William Kessel, the President and Chief Executive Officer. "Over the past year, we increased tangible book value by 13.3% and delivered near record earnings. Meanwhile, our dividend payout ratio was 32% for the year as we continue to recognize the value of returns to our shareholders. During the fourth quarter, we realized continued net interest margin expansion, strong loan growth and increased non-interest income despite the third quarter reflecting elevated revenue from an annual incentive payment related to our debit card program. In addition, our credit quality metrics remain positive, with watch credits and non-performing assets below historic averages. In anticipation of continued strong earnings, we repurchased shares and executed a tax credit transfer agreement during the fourth quarter which is expected to reduce tax obligations and enhance earnings per share. Looking ahead to 2026, our confidence is bolstered by a robust commercial loan pipeline and our on going strategic initiative to attract and integrate talented bankers into our organization."
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Wall Street analysts forecast IBCP stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for IBCP is 35.50 USD with a low forecast of 35.00 USD and a high forecast of 36.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
2 Analyst Rating
Wall Street analysts forecast IBCP stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for IBCP is 35.50 USD with a low forecast of 35.00 USD and a high forecast of 36.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
0 Buy
2 Hold
0 Sell
Hold
Current: 34.120
Low
35.00
Averages
35.50
High
36.00
Current: 34.120
Low
35.00
Averages
35.50
High
36.00
Piper Sandler
Nathan Race
Neutral
maintain
$36 -> $39
2026-01-26
New
Reason
Piper Sandler
Nathan Race
Price Target
$36 -> $39
AI Analysis
2026-01-26
New
maintain
Neutral
Reason
Piper Sandler analyst Nathan Race raised the firm's price target on Independent Bank to $39 from $36 and keeps a Neutral rating on the shares. The firm says that apart from higher operating expenses that resulted in a 6% PPNR shortfall, Independent's results in Q4 remained strong as loan growth continued to be very solid at 7% LQA and asset quality metrics were again benign.
Keefe Bruyette
Market Perform
maintain
$35 -> $37
2026-01-23
Reason
Keefe Bruyette
Price Target
$35 -> $37
2026-01-23
maintain
Market Perform
Reason
Keefe Bruyette raised the firm's price target on Independent Bank to $37 from $35 and keeps a Market Perform rating on the shares.
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About IBCP
Independent Bank Corp. is a bank holding company, the principal subsidiary of which is Rockland Trust Company (the Bank). The Bank is a state-chartered commercial bank which provides a variety of banking, investment and financial services through its retail branches, commercial banking centers, investment management offices, and mortgage lending centers located throughout Eastern Massachusetts as well as in Worcester County and Rhode Island. It also offers a full suite of mobile, online, and telephone banking services. The Bank’s borrowers primarily consist of small-to-upper middle market-sized businesses and consumers. Its loan portfolio includes commercial loans, consumer loans, and other consumer loans, primarily consisting of investment management secured lines of credit, installment loans and overdraft protection lines. The commercial loans consist of commercial real estate loans, construction loans, commercial and industrial loans, and small business loans.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
