Independent Bank Corp. (INDB) Price Target Analysis
Updated Jul 2, 2026
Analyst Rating: Hold
Based on 15 analysts10.6% Below Target
INDB trades 10.6% below Wall Street's consensus target of $93.33.
Current Price$84.40
Average Target$93.33
Target
Current
Low$88.00
Median$95.00
High$97.00
Analyst Target Range
Forward P/E11.6x
(Value)
PEG Ratio2.83
(Pricey)
Implied Growth+48.3%
(High Growth)
Analyst Spread9.6%
(High Agreement)
Price Forecast (1 Year)
Last 12 months price action with 12-month analyst target path
Consensus Scenario Assumptions
The base valuation assumes INDB achieves its forward estimates and maintains a stable P/E multiple of 11.6x. This scenario reflects the blended consensus of 15 Wall Street analysts, balancing both positive catalysts and macroeconomic headwinds over the next 12 months.
INDB Price Target Analysis
Updated July 8, 2026As of July 8, 2026, Independent Bank Corp. (INDB) has a Wall Street consensus price target of $93.33, based on estimates from 15 covering analysts. With the stock currently trading at $84.40, this represents a potential upside of +10.6%. The company has a market capitalization of $4.07B.
Analyst price targets range from a low of $88.00 to a high of $97.00, representing a 10% spread in expectations. The median target of $95.00 aligns closely with the consensus average. The tight target dispersion indicates high conviction among analysts.
The current analyst consensus rating is Hold, with 6 analysts rating the stock as a Buy or Strong Buy,7 rating it Hold, and 2 rating it Sell or Strong Sell. The mixed ratings reflect uncertainty about near-term direction.
From a valuation perspective, INDB trades at a trailing P/E of 19.0x and forward P/E of 11.6x. The forward PEG ratio of 2.83 reflects a premium valuation. Analysts expect EPS to grow +48.3% over the next year.
Our proprietary valuation model, which blends historical multiples with forward estimates, suggests a base-case price target of $84.31, with bear and bull scenarios of $53.12 and $111.09 respectively. Model confidence stands at 47/100, suggesting limited visibility into future performance.
Investment Context: Price targets represent analyst expectations for the next 12 months and should be considered alongside your own research. Targets are based on analysts' assumptions about earnings growth, margins, and market conditions which may change. For sector-specific context, view other Financial Services stocks.
Analyst Sentiment Comparison
Industry Peer AnalysisAvg Peer Upside
+4.7%
Industry Consensus
Avg Forward P/E
12.2x
(Value)
Peers with Coverage
10 / 10
Active Analyst Tracking
| Company | Market Cap | Price | Target | Upside Potential | Rating | Fwd P/E | Analysts |
|---|---|---|---|---|---|---|---|
 WSFSWSFS Financial Corporation | $4.0B | $76.24 | $79.00 | +3.6% | Hold | 12.2x | 13 |
 NBTBNBT Bancorp Inc. | $2.6B | $49.63 | $56.00 | +12.8% | Hold | 11.9x | 10 |
 TRMKTrustmark Corporation | $2.7B | $46.23 | $45.50 | -1.6% | Hold | 11.8x | 9 |
 CVBFCVB Financial Corp. | $3.1B | $22.58 | $26.00 | +15.1% | Hold | 15.7x | 16 |
 IBCPIndependent Bank Corporation | $737M | $35.76 | $38.00 | +6.3% | Hold | 10.1x | 7 |
 SFNCSimmons First National Corporation | $3.3B | $22.75 | $23.50 | +3.3% | Buy | 11.0x | 9 |
 FULTFulton Financial Corporation | $4.6B | $24.23 | $24.50 | +1.1% | Hold | 12.0x | 20 |
 BOKFBOK Financial Corporation | $8.5B | $140.43 | $132.00 | -6.0% | Hold | 13.7x | 21 |
 UMBFUMB Financial Corporation | $11.1B | $146.00 | $152.71 | +4.6% | Buy | 11.3x | 18 |
 WTFCWintrust Financial Corporation | $10.9B | $161.45 | $174.57 | +8.1% | Buy | 12.4x | 22 |
INDB — Frequently Asked Questions
Quick answers to the most common questions about buying INDB stock.
What is the INDB stock price target for 2026?
Independent Bank Corp. (INDB) has a consensus 12-month price target of $93.33, implying 10.6% upside from $84.4. The 15 analysts covering INDB see moderate appreciation potential.
Is INDB a buy, sell, or hold?
INDB has a consensus rating of "Hold" based on 15 Wall Street analysts. The rating breakdown is mixed, with 7 Hold ratings making up the largest segment. The consensus 12-month price target of $93.33 implies 10.6% upside from current levels.
Is INDB stock overvalued or undervalued?
With a forward P/E of 11.5904x, INDB trades at a relatively low valuation. The consensus target of $93.33 implies 10.6% appreciation, suggesting meaningful undervaluation.
How high can INDB stock go?
The most bullish Wall Street analyst has a price target of $97 for INDB, while the most conservative target is $88. The consensus of $93.33 represents the median expectation. Our quantitative valuation model projects a bull case target of $111 based on optimistic growth and margin assumptions. These targets typically reflect 12-month expectations.
How many analysts cover INDB stock?
INDB is well covered by analysts, with 15 analysts providing price targets and ratings. Of these, 1 have Strong Buy ratings, 5 have Buy ratings, 7 recommend Hold, and 2 have Sell or Strong Sell ratings. Higher analyst coverage generally indicates greater institutional interest and more reliable consensus estimates.
What is the INDB stock forecast?
The 12-month INDB stock forecast based on 15 Wall Street analysts shows a consensus price target of $93.33, with estimates ranging from $88 (bear case) to $97 (bull case). The median consensus rating is "Hold". Our proprietary valuation model produces a base case fair value of $84, with bear/bull scenarios of $53/$111.
What is INDB's fair value based on fundamentals?
Our quantitative valuation model calculates INDB's fair value at $84 (base case), with a bear case of $53 and bull case of $111. The model uses discounted cash flow analysis, historical growth rates, and margin mean-reversion to project FY+2 earnings, then applies an appropriate P/E multiple. The model confidence score is 47/100.
What is INDB's forward P/E ratio?
INDB trades at a forward P/E ratio of 11.6x based on next-twelve-months earnings estimates compared to a trailing P/E of 19.0x. The lower forward P/E indicates analysts expect earnings growth. A forward P/E is useful for comparing valuations when earnings are expected to change significantly.
Should I buy INDB stock?
Wall Street analysts are optimistic on INDB, with a "Hold" consensus rating and $93.33 price target (10.6% upside). 6 of 15 analysts rate it Buy or Strong Buy. This information is for educational purposes only. Always conduct your own research, consider your financial situation, and consult a financial advisor before making investment decisions.
Why do INDB price targets vary so much?
INDB analyst price targets range from $88 to $97, a 10% tight range reflecting strong analyst consensus. Differences stem from varying assumptions about revenue growth, profit margins, competitive dynamics, and valuation multiples. The $93.33 consensus represents the middle ground. Our model's $53-$111 range provides an independent fundamental perspective.
Consensus-Based Analysis Tools
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