Piper Sandler (NYSE:PIPR) analyst Mark Fitzgibbon maintained a Hold rating on Independent Bank (NASDAQ:INDB) on Monday, setting a price target of $58, which is approximately 15.72% above the present share price of 50.12.
Fitzgibbon expects Independent Bank to post earnings per share (EPS) of 0.76 for the third quarter of 2020.
The current consensus among 0 TipRanks analysts is for a Hold rating of shares in Independent Bank, with an average price target of .
The analysts price targets range from a high of to a low of .
In its latest earnings report, released on 06/30/2020, the company reported a quarterly revenue of 119.29 million and a net profit of 0. The company's market cap is 1.65 billion.
According to TipRanks.com, Piper Sandler analyst Mark Fitzgibbon is currently ranked with 1 stars on a 0-5 stars ranking scale, with an average return of -3.8% and a 44.88% success rate.
Independent Bank Corp. operates as a bank holding company. The company provides commercial banking, retail banking, and wealth management services and is engaged in sale of retail investments and insurance products in Massachusetts. It offers deposit products, including demand deposits, interest checking, money market accounts, savings accounts and time certificates of deposit. The company provides real estate loans, which include commercial mortgages that are secured by non-residential properties; residential mortgages that are secured primarily by owner-occupied residences; and mortgages for the construction of commercial and residential properties. Independent Bank was founded in 1985 and is headquartered in Rockland, MA.