Headlines about Independent Bank Corp. (NASDAQ:INDB) have trended somewhat positive on Saturday, Accern Sentiment reports. The research firm ranks the sentiment of news coverage by analyzing more than twenty million news and blog sources in real time. Accern ranks coverage of publicly-traded companies on a scale of negative one to positive one, with scores closest to one being the most favorable. Independent Bank Corp. earned a daily sentiment score of 0.10 on Accern’s scale. Accern also gave media coverage about the bank an impact score of 46.2123086363136 out of 100, indicating that recent news coverage is somewhat unlikely to have an impact on the stock’s share price in the immediate future.
INDB has been the subject of a number of research analyst reports. Compass Point downgraded shares of Independent Bank Corp. from a “buy” rating to a “neutral” rating and set a $76.00 target price for the company. in a research note on Wednesday, October 11th. They noted that the move was a valuation call. Zacks Investment Research raised shares of Independent Bank Corp. from a “hold” rating to a “buy” rating and set a $75.00 target price for the company in a research note on Tuesday, August 22nd. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $73.00 target price on shares of Independent Bank Corp. in a research note on Tuesday, October 3rd. One equities research analyst has rated the stock with a sell rating and five have issued a hold rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $73.00.
Shares of Independent Bank Corp. (INDB) traded down $0.30 during trading hours on Friday, hitting $71.60. 41,423 shares of the stock traded hands, compared to its average volume of 77,087. The company has a market cap of $1.99 billion, a price-to-earnings ratio of 22.43 and a beta of 0.98. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.95 and a current ratio of 0.95.
Independent Bank Corp. (NASDAQ:INDB) last issued its earnings results on Thursday, October 19th. The bank reported $0.87 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.91 by ($0.04). The business had revenue of $87.84 million for the quarter, compared to the consensus estimate of $88.57 million. Independent Bank Corp. had a net margin of 23.48% and a return on equity of 9.76%. The firm’s revenue for the quarter was up 12.5% compared to the same quarter last year. During the same period last year, the business posted $0.78 EPS. equities research analysts predict that Independent Bank Corp. will post 3.41 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, October 6th. Investors of record on Monday, September 25th were paid a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 1.79%. The ex-dividend date of this dividend was Friday, September 22nd. Independent Bank Corp.’s dividend payout ratio (DPR) is presently 42.38%.
In other Independent Bank Corp. news, Director Eileen C. Miskell sold 1,200 shares of Independent Bank Corp. stock in a transaction that occurred on Wednesday, October 25th. The stock was sold at an average price of $71.27, for a total value of $85,524.00. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 2.67% of the stock is currently owned by company insiders.
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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.
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