Independent Bank Corp. Plans Quarterly Dividend of $0.22 (INDB)
Independent Bank Corp. (NASDAQ:INDB) announced a quarterly dividend on Thursday, September 19th, Analyst Ratings Network.com reports. Stockholders of record on Monday, September 30th will be paid a dividend of $0.22 per share on Friday, October 11th. This represents a $0.88 annualized dividend and a dividend yield of 2.43%.
INDB has been the subject of a number of recent research reports. Analysts at Keefe, Bruyette & Woods reiterated a “hold” rating on shares of Independent Bank Corp. (NASDAQ:INDB) in a research note to investors on Monday, August 26th. They now have a $35.00 price target on the stock. On a related note, analysts at Sandler O’Neill raised their price target on shares of Independent Bank Corp. (NASDAQ:INDB) from $37.00 to $38.00 in a research note to investors on Monday, August 26th. They now have a “buy” rating on the stock. Finally, analysts at Thomson Reuters/Verus upgraded shares of Independent Bank Corp. (NASDAQ:INDB) from a “hold” rating to a “buy” rating in a research note to investors on Monday, July 22nd.
Independent Bank Corp. (NASDAQ:INDB) traded down 1.24% on Thursday, hitting $35.71. The stock had a trading volume of 63,002 shares. Independent Bank Corp. has a one year low of $27.59 and a one year high of $38.04. The stock has a 50-day moving average of $36.51 and a 200-day moving average of $33.90. The company has a market cap of $806.4 million and a price-to-earnings ratio of 17.45.
Independent Bank Corp. (NASDAQ:INDB) last announced its earnings results on Thursday, July 11th. The company reported $0.58 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.59 by $0.01. During the same quarter in the prior year, the company posted $0.43 earnings per share. Analysts expect that Independent Bank Corp. will post $2.37 EPS for the current fiscal year.
Independent Bank Corp. is a bank holding company. The Company owns 100% interest in Rockland Trust Company (NASDAQ:INDB), a trust company.
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