Independent Bank Corp. (INDB)

Independent Bank Stock Forecast

Stock Price Forecast

According to 4 professional analysts, the 12-month price target for Independent Bank stock ranges from a low of $63 to a high of $83. The average analyst price target of $74 forecasts a 0.46% increase in the stock price over the next year.

Price Target: $74.00 (+0.46%)

Analyst Consensus: Buy

Target	Low	Average	Median	High
Price	$63	$74	$78	$83
Change	-14.47%	+0.46%	+5.89%	+12.68%

* Price targets were last updated on Oct 21, 2025.

Analyst Ratings

The average analyst rating for Independent Bank stock is "Buy". This means that analysts believe this stock is likely to outperform the market over the next twelve months.

Recommendation Trends

Rating	Jul '25	Aug '25	Sep '25	Oct '25	Nov '25	Dec '25
Strong Buy	2	2	2	1	1	1
Buy	0	0	0	1	1	1
Hold	2	2	2	2	2	2
Sell	0	0	0	0	0	0
Strong Sell	0	0	0	0	0	0
Total	4	4	4	4	4	4

Latest Forecasts

Analyst	Firm	Rating	Rating	Action	Price Target	Upside	Date
David Konrad Keefe, Bruyette & Woods	Keefe, Bruyette & Woods	Hold → Buy Upgrades $80 → $83	Hold → Buy	Upgrades	$80 → $83	+12.68%	Oct 21, 2025
Christopher O'Connell Keefe, Bruyette & Woods	Keefe, Bruyette & Woods	Hold Maintains $80 → $72	Hold	Maintains	$80 → $72	-2.25%	Apr 21, 2025
Mark Fitzgibbon Piper Sandler	Piper Sandler	Hold Maintains $74 → $63	Hold	Maintains	$74 → $63	-14.47%	Apr 21, 2025
Christopher O'Connell Keefe, Bruyette & Woods	Keefe, Bruyette & Woods	Hold Maintains $82 → $80	Hold	Maintains	$82 → $80	+8.61%	Jan 21, 2025
Steve Moss Raymond James	Raymond James	Strong Buy Reiterates $74 → $78	Strong Buy	Reiterates	$74 → $78	+5.89%	Jan 21, 2025

More Analyst Ratings

Financial Forecast

Revenue This Year

873.24M

Increased by 33.63%

from 653.49M

Revenue Next Year

1.05B

Increased by 20.70%

from 873.24M

EPS This Year

5.65

Increased by 25.03%

from 4.52

EPS Next Year

7.47

Increased by 32.18%

from 5.65

Fiscal Year	FY 2020	FY 2021	FY 2022	FY 2023	FY 2024	FY 2025	FY 2026
Period Ending	Dec 31, 2020	Dec 31, 2021	Dec 31, 2022	Dec 31, 2023	Dec 31, 2024	Dec 31, 2025	Dec 31, 2026
Revenue	425.26M	489.07M	718.36M	707.88M	653.49M	873.24M	1.05B
Revenue Growth	-15.19%	15.00%	46.88%	-1.46%	-7.68%	33.63%	20.70%
EPS	3.64	3.47	5.69	5.42	4.52	5.65	7.47
EPS Growth	-27.63%	-4.68%	63.97%	-4.73%	-16.61%	25.03%	32.18%
Forward PE	-	-	-	-	-	13.04	9.86
No. Analysts	-	-	-	-	-	6	6

Historical EPS numbers are GAAP, while forecasted numbers may be non-GAAP.

Revenue Forecast

Revenue	2025	2026	2027
High	902.0M	1.1B
Avg	873.2M	1.1B
Low	836.2M	1.0B

Revenue Growth

Revenue Growth	2025	2026	2027
High	38.0%	24.4%
Avg	33.6%	20.7%
Low	28.0%	15.9%

EPS Forecast

EPS	2025	2026	2027
High	5.86	7.77
Avg	5.65	7.47
Low	5.36	7.10

EPS Growth

EPS Growth	2025	2026	2027
High	29.6%	37.5%
Avg	25.0%	32.2%
Low	18.6%	25.7%

Sources: Price targets and analyst ratings provided by Benzinga. Revenue and EPS forecast data provided by Finnhub. The data is sourced from Wall Street analysts. Data disclaimer.