Independent Bank Corp. (INDB) Posts Quarterly Earnings, Beats Estimates By $0.03 EPS
Independent Bank Corp. (NASDAQ:INDB) issued its quarterly earnings data on Thursday. The company reported $0.63 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.60 by $0.03, Analyst Ratings Network reports.
Independent Bank Corp. (NASDAQ:INDB) traded up 0.46% during mid-day trading on Thursday, hitting $36.82. 137,583 shares of the company’s stock traded hands. Independent Bank Corp. has a one year low of $27.59 and a one year high of $38.04. The stock’s 50-day moving average is $35.86 and its 200-day moving average is $34.42. The company has a market cap of $831.5 million and a price-to-earnings ratio of 17.69.
A number of research firms have recently commented on INDB. Analysts at Keefe, Bruyette & Woods raised their price target on shares of Independent Bank Corp. from $35.00 to $38.00 in a research note to investors on Tuesday, September 24th. Finally, analysts at Sandler O’Neill raised their price target on shares of Independent Bank Corp. 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.
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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