Independent Bank (INDB) Expected to Announce Earnings on Thursday

Independent Bank (NASDAQ:INDB) is expected to issue its quarterly earnings data after the market closes on Thursday, April 17th. Analysts expect the company to announce earnings of $1.19 per share and revenue of $175.03 million for the quarter. Persons interested in registering for the company’s earnings conference call can do so using this link.

Independent Bank (NASDAQ:INDB) last released its quarterly earnings results on Thursday, January 16th. The bank reported $1.21 EPS for the quarter, topping the consensus estimate of $1.16 by $0.05. Independent Bank had a return on equity of 6.57% and a net margin of 19.58%. On average, analysts expect Independent Bank to post $5 EPS for the current fiscal year and $7 EPS for the next fiscal year.

Independent Bank Trading Up 1.7 %

Shares of NASDAQ INDB opened at $55.24 on Wednesday. The business has a fifty day moving average price of $63.51 and a 200 day moving average price of $65.33. Independent Bank has a 1-year low of $45.11 and a 1-year high of $77.23. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.95 and a quick ratio of 0.95. The stock has a market capitalization of $2.35 billion, a P/E ratio of 12.22 and a beta of 0.84.

Independent Bank Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 7th. Shareholders of record on Monday, March 31st were given a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 4.27%. This is a positive change from Independent Bank’s previous quarterly dividend of $0.57. The ex-dividend date of this dividend was Monday, March 31st. Independent Bank’s dividend payout ratio is presently 52.21%.

Wall Street Analyst Weigh In

Several research firms recently commented on INDB. StockNews.com upgraded shares of Independent Bank from a “sell” rating to a “hold” rating in a research note on Tuesday, March 25th. Keefe, Bruyette & Woods reduced their price target on Independent Bank from $82.00 to $80.00 and set a “market perform” rating on the stock in a research report on Tuesday, January 21st. Finally, Raymond James reissued a “strong-buy” rating and issued a $78.00 price objective (up previously from $74.00) on shares of Independent Bank in a research report on Tuesday, January 21st.

Insider Activity at Independent Bank

In other Independent Bank news, Director Donna L. Abelli sold 640 shares of the company’s stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $70.03, for a total transaction of $44,819.20. Following the transaction, the director now owns 12,516 shares in the company, valued at approximately $876,495.48. This represents a 4.86 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.87% of the stock is currently owned by insiders.

About Independent Bank

Independent Bank Corp. operates as the bank holding company for Rockland Trust Company that provides commercial banking products and services to individuals and small-to-medium sized businesses in the United States. The company provides interest checking, money market, and savings accounts, as well as demand deposits and time certificates of deposit.