Independent Bank rises after Q2 profit beats estimates

Independent Bank (Massachusetts)

18/07/2025 17:10

** Regional lender Independent Bank's INDB.O shares jump as much as 8.4%; last up 6.6% at $70.02

** INDB late Thursday beat Q2 profit expectations after missing estimates in the prior quarter

** Bank also announced a new stock repurchase plan of up to $150 million, scheduled to expire in July 2026

** Piper Sandler says asset quality trends finally moving in the right direction is a positive, since it has been an overhang on the share price

** Raymond James echoes the sentiment, saying the credit outlook has brightened as nonperforming loans declined sharply due to the resolution of two large office loans

** 2 of 4 brokerages rate the stock "buy" or higher and 2 "hold"; median PT $76 - data compiled by LSEG

** As of last close, INDB stock up 2.3% YTD

 (Reporting by Arasu Kannagi Basil in Bengaluru)

 ((ArasuKannagi.Basil@thomsonreuters.com))