Independent Bank Corp. (IBCP) Announces Quarterly Earnings Results, Misses Expectations By $0.09 EPS
Independent Bank Corp. (NASDAQ:IBCP) posted its quarterly earnings results on Wednesday. The company reported $0.17 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.26 by $0.09, Analyst Ratings Network.com reports.
On the ratings front, analysts at Keefe, Bruyette & Woods upgraded shares of Independent Bank Corp. to an “outperform” rating in a research note to investors on Tuesday, September 3rd.
Shares of Independent Bank Corp. (NASDAQ:IBCP) traded down 2.17% during mid-day trading on Wednesday, hitting $9.48. 52,397 shares of the company’s stock traded hands. Independent Bank Corp. has a 1-year low of $2.61 and a 1-year high of $9.69. The stock has a 50-day moving average of $8.7 and a 200-day moving average of $7.38. The company has a market cap of $90.0 million and a price-to-earnings ratio of 2.71.
Independent Bank Corporation is a bank holding company. The Company owns Independent Bank (NASDAQ:IBCP).
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