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%.

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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.

Earnings History for Independent Bank Corp. (NASDAQ:INDB)

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