Independent Bank Corp. (INDB) to Release Quarterly Earnings on Thursday
Independent Bank Corp. (NASDAQ:INDB) is set to post its quarterly earnings results after the market closes on Thursday, July 20th. Analysts expect Independent Bank Corp. to post earnings of $0.80 per share for the quarter.
Independent Bank Corp. (NASDAQ:INDB) last released its quarterly earnings data on Thursday, April 20th. The bank reported $0.78 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.78. The business had revenue of $79.11 million during the quarter, compared to analysts’ expectations of $80.19 million. Independent Bank Corp. had a return on equity of 9.80% and a net margin of 23.62%. During the same period in the prior year, the firm posted $0.72 EPS. On average, analysts expect Independent Bank Corp. to post $3.27 EPS for the current fiscal year and $3.78 EPS for the next fiscal year.
Independent Bank Corp. (NASDAQ INDB) traded down 0.22% on Thursday, hitting $67.05. The stock had a trading volume of 49,333 shares. Independent Bank Corp. has a one year low of $45.09 and a one year high of $71.95. The company’s 50-day moving average is $63.76 and its 200-day moving average is $64.69. The stock has a market cap of $1.81 billion, a P/E ratio of 22.73 and a beta of 0.97.
The firm also recently announced a quarterly dividend, which was paid on Friday, July 7th. Stockholders of record on Monday, June 26th were given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.91%. The ex-dividend date was Thursday, June 22nd. Independent Bank Corp.’s payout ratio is 43.39%.
COPYRIGHT VIOLATION NOTICE: “Independent Bank Corp. (INDB) to Release Quarterly Earnings on Thursday” was first posted by American Banking News and is owned by of American Banking News. If you are accessing this news story on another website, it was illegally copied and republished in violation of US and international copyright legislation. The correct version of this news story can be viewed at https://www.americanbankingnews.com/2017/07/13/independent-bank-corp-indb-to-release-quarterly-earnings-on-thursday.html.
INDB has been the topic of a number of analyst reports. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $71.00 target price on shares of Independent Bank Corp. in a research report on Wednesday, June 28th. Zacks Investment Research lowered Independent Bank Corp. from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, March 22nd. BidaskClub lowered Independent Bank Corp. from a “buy” rating to a “hold” rating in a research report on Wednesday, June 21st. Sandler O’Neill raised Independent Bank Corp. from a “sell” rating to a “hold” rating in a research report on Monday, May 15th. Finally, Compass Point raised Independent Bank Corp. from a “sell” rating to a “neutral” rating in a research report on Tuesday, March 28th. Six investment analysts have rated the stock with a hold rating, The stock currently has an average rating of “Hold” and an average target price of $61.00.
In related news, Director Kevin J. Jones sold 9,630 shares of Independent Bank Corp. stock in a transaction dated Friday, April 28th. The stock was sold at an average price of $64.11, for a total value of $617,379.30. Following the completion of the transaction, the director now directly owns 77,534 shares in the company, valued at $4,970,704.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Carl Ribeiro sold 1,000 shares of Independent Bank Corp. stock in a transaction dated Thursday, May 25th. The stock was sold at an average price of $62.24, for a total value of $62,240.00. Following the completion of the transaction, the director now owns 14,647 shares of the company’s stock, valued at $911,629.28. The disclosure for this sale can be found here. Insiders sold 16,733 shares of company stock valued at $1,068,441 over the last quarter. Insiders own 2.67% of the company’s stock.
Independent Bank Corp. Company Profile
Independent Bank Corp. is a bank holding company. The Company operates through its subsidiary, Rockland Trust Company (the Bank). The Bank is a community-oriented commercial bank. Its community banking business provides a range of banking services, including lending activities, acceptance of demand, savings, and time deposits, and investment management.
Receive News & Ratings for Independent Bank Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Independent Bank Corp. and related companies with MarketBeat.com's FREE daily email newsletter.