Independent Bank price target raised to $65 from $62 at Keefe Bruyette

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.