Keefe Bruyette raised the firm’s price target on Independent Bank (INDB) to $65 from $62 and keeps a Market Perform rating on the shares following the Q3 report. There could be some elevated credit costs related to Independent’s office for another two quarters, but management was optimistic on the outlook for the portfolio over the remainder of 2025, with minimal criticized credits set to mature beyond Q1 of next year, the analyst tells investors in a research note.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on INDB:
- Independent Bank Reports Q3 Profit Amid Challenges
- Independent Bank reports Q3 EPS $1.01, consensus $1.05
- INDB Earnings Report this Week: Is It a Buy, Ahead of Earnings?
- Independent Bank credit problem could weigh on Q3 results, says Piper Sandler
- Independent Bank’s Insightful Presentation at Upcoming Conferences