Independent Bank (INDB) Expected to Announce Quarterly Earnings on Thursday

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

Independent Bank (NASDAQ:INDB) last released its quarterly earnings data on Thursday, January 16th. The bank reported $1.21 EPS for the quarter, beating the consensus estimate of $1.16 by $0.05. Independent Bank had a net margin of 19.58% and a return on equity of 6.57%. 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 Stock Up 1.7 %

NASDAQ:INDB opened at $55.24 on Wednesday. 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 firm has a market capitalization of $2.35 billion, a P/E ratio of 12.22 and a beta of 0.84. The company’s fifty day moving average price is $63.51 and its 200-day moving average price is $65.33.

Independent Bank Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 7th. Stockholders of record on Monday, March 31st were paid a $0.59 dividend. This is an increase from Independent Bank’s previous quarterly dividend of $0.57. The ex-dividend date was Monday, March 31st. This represents a $2.36 dividend on an annualized basis and a dividend yield of 4.27%. Independent Bank’s dividend payout ratio is presently 52.21%.

Analysts Set New Price Targets

INDB has been the subject of a number of analyst reports. Raymond James reissued a “strong-buy” rating and issued a $78.00 price target (up from $74.00) on shares of Independent Bank in a report on Tuesday, January 21st. StockNews.com raised shares of Independent Bank from a “sell” rating to a “hold” rating in a report on Tuesday, March 25th. Finally, Keefe, Bruyette & Woods lowered their price target on shares of Independent Bank from $82.00 to $80.00 and set a “market perform” rating on the stock in a report on Tuesday, January 21st.

Insider Buying and Selling

In related news, Director Donna L. Abelli sold 640 shares of Independent Bank stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $70.03, for a total value of $44,819.20. Following the sale, the director now owns 12,516 shares of the company’s stock, valued at approximately $876,495.48. This trade represents a 4.86 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, 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.