Stock Price & Analysis

Buy INDB stock as it has a Strong Buy rating with a $78 price target and positive merger expectations.

INDB stock is predicted to reach $78.25 in 2025, driven by a 16% earnings increase from the Enterprise Bancorp merger and strong analyst targets. Current price trends and Fibonacci levels suggest upside potential.

The S1 support level for INDB Stock is $60.87 ,The R1 resistant level for INDB Stock is $64.33.

As of the end of day on 2025-03-24, the price of INDB Stock was $65.19.

The target price for INDB Stock according to analyst rating is 77.33, with the highest price target at 80.00 and the lowest at 74.00. Analysts have a Moderate Buy rating on INDB Stock overall.

The market cap of INDB is $2.7B.

Analysis and Insights

Valuation Metrics:

INDB's valuation metrics suggest potential overvaluation. The stock's PE ratio of 26.18% for Q4 2024 exceeds industry averages, indicating a premium price relative to earnings. The EV/EBITDA of 11.18 and PS ratio of 4.22 further support this assessment, as they are higher than typical benchmarks for regional banks.

Technical Analysis:

The stock's technical indicators show mixed signals. The RSI of 44.84 suggests the stock is not overbought, but the MACD is negative, indicating bearish momentum. The price is near the lower Bollinger Band, signaling potential overselling, but the overall trend remains bearish.

Event Impact:

The upcoming merger with Enterprise Bancorp, expected to close in the second half of 2025, is projected to boost earnings per share by 16%. However, the stock's recent price of $63.62 is near Fibonacci support levels, suggesting limited upside.

Analyst Sentiment:

Analysts are divided. Raymond James raised the target price to $78, while Keefe, Bruyette & Woods maintained a hold rating with a lower target, reflecting cautious optimism.

Conclusion:

INDB appears overvalued due to high valuation metrics and bearish technical indicators. While the merger offers growth potential, current prices may not justify further upside. Investors should exercise caution and consider waiting for a price correction or clearer positive signals.

Independent Bank Corp. is a bank holding company of Rockland Trust Company (the Bank). The Bank provides a range of banking, investment and financial services, operating with over 120 retail branches, as well as a network of commercial and residential lending centers, and investment management offices primarily in Eastern Massachusetts, Worcester County, and Rhode Island. The Bank also offers a full suite of mobile, online, and telephone banking services. The Bank’s commercial, consumer real estate, and other consumer loan portfolios consist of loans made to residents of and businesses located in the Bank’s market area. Its commercial loans consist of commercial real estate loans, commercial construction loans, commercial and industrial loans, and small business loans. The Bank’s consumer portfolio consists of real estate loans comprised of residential mortgages and home equity loans and lines, all secured by one-to-four family residential properties, as well as other consumer loans.

Price Prediction for INDB Stock by 2030

Based on the analysis of technical indicators, merger impact, and analyst targets, the price prediction for INDB stock by 2030 is $78.00.

• The stock is currently trading at $63.62 with a Fibonacci pivot of $63.52 and resistance levels at $66.21 and $67.87.
• The merger with Enterprise Bancorp, expected to close in the second half of 2025, is projected to add 16% to earnings per share by 2026, enhancing long-term growth potential.
• Analysts have set a 12-month target price of $78.25, indicating significant upside potential.

INDB has a total of 1787 employees.