Independent Bank Expands with Enterprise Bancorp Acquisition
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Independent Bank Corp. has successfully acquired Enterprise Bancorp, enhancing its market presence in Northern Massachusetts and Southern New Hampshire. The acquisition has stabilized its loan and deposit base, increased net interest margin to 3.62%, and bolstered organic growth in commercial loans. Analysts rate INDB stock as a Buy with a $75.00 target, while Spark's AI Analyst gives it an Outperform rating. Despite some challenges in commercial real estate, the bank's valuation remains attractive with a strong dividend yield and solid financial performance.
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