Independent Bank Corp. (INDB) Plans Quarterly Dividend of $0.24
Independent Bank Corp. (NASDAQ:INDB) declared a quarterly dividend on Thursday, June 19th, Analyst Ratings Net reports. Stockholders of record on Monday, June 30th will be given a dividend of 0.24 per share on Friday, July 11th. This represents a $0.96 dividend on an annualized basis and a yield of 2.52%.
INDB has been the subject of a number of recent research reports. Analysts at Drexel Hamilton initiated coverage on shares of Independent Bank Corp. in a research note on Thursday, May 8th. They set a “buy” rating on the stock. On a related note, analysts at Keefe, Bruyette & Woods cut their price target on shares of Independent Bank Corp. from $15.00 to $14.50 in a research note on Tuesday, April 22nd. Finally, analysts at SunTrust initiated coverage on shares of Independent Bank Corp. in a research note on Monday, March 31st. They set a “neutral” rating and a $40.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $31.88.
Shares of Independent Bank Corp. (NASDAQ:INDB) traded down 0.13% during mid-day trading on Thursday, hitting $38.11. The stock had a trading volume of 38,233 shares. Independent Bank Corp. has a 52-week low of $32.69 and a 52-week high of $41.17. The stock has a 50-day moving average of $36.58 and a 200-day moving average of $37.42. The company has a market cap of $910.8 million and a price-to-earnings ratio of 17.35.
Independent Bank Corp. (NASDAQ:INDB) last released its earnings data on Thursday, April 17th. The company reported $0.51 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.56 by $0.05. On average, analysts predict that Independent Bank Corp. will post $2.49 earnings per share 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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