Independent Bank Corp (Massachusetts) (INDB) Stock AnalysisINDBIndependent Bank Corp (Massachusetts)

Independent Bank Corp. is the holding company of Rockland Trust Company (the Bank). With retail branches in Eastern Massachusetts, Worcester County, and Southern New Hampshire, as well as commercial banking and investment management offices in Massachusetts, New Hampshire, and Rhode Island, the Bank offers a wide range of banking, investment, and insurance services to individuals, families, and businesses. 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 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. It operates in the Financials sector (STATE COMMERCIAL BANKS industry).

Independent Bank Corp is currently a hold. The stock is priced at $77.02, which is below the average analyst price target of $90, indicating potential upside. However, the RSI is at 26.325, suggesting the stock is oversold and may not be a strong buy at this moment. The significant risk is the hedge funds selling, which has increased by 496.52% over the last quarter, indicating a bearish sentiment among institutional investors.

5 analysts cover INDB: 0 rate it Buy, 4 Hold and 1 Sell. The average price target is 80.75.