Independent Bank (INDB) Scheduled to Post Quarterly Earnings on Thursday

Independent Bank (NASDAQ:INDB) will be issuing its quarterly earnings data after the market closes on Thursday, January 18th. Analysts expect the company to announce earnings of $0.92 per share for the quarter.

Independent Bank (NASDAQ:INDB) last released its quarterly earnings data on Thursday, October 19th. The bank reported $0.87 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.91 by ($0.04). The company had revenue of $87.84 million for the quarter, compared to analysts’ expectations of $88.57 million. Independent Bank had a net margin of 23.48% and a return on equity of 9.76%. The business’s quarterly revenue was up 12.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.78 EPS. On average, analysts expect Independent Bank to post $3 EPS for the current fiscal year and $4 EPS for the next fiscal year.

Independent Bank (INDB) opened at $71.70 on Thursday. The firm has a market capitalization of $1,950.00, a PE ratio of 23.66 and a beta of 0.97. Independent Bank has a 52 week low of $57.20 and a 52 week high of $76.30. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.95 and a current ratio of 0.95.

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 5th. Shareholders of record on Tuesday, December 26th were paid a dividend of $0.32 per share. The ex-dividend date was Friday, December 22nd. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.79%. Independent Bank’s payout ratio is currently 42.24%.

In related news, Director Eileen C. Miskell sold 1,200 shares of Independent Bank stock in a transaction dated Wednesday, October 25th. The stock was sold at an average price of $71.27, for a total value of $85,524.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Carl Ribeiro sold 700 shares of Independent Bank stock in a transaction dated Tuesday, December 12th. The shares were sold at an average price of $69.25, for a total value of $48,475.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 6,150 shares of company stock valued at $439,814. 2.67% of the stock is owned by company insiders.

INDB has been the subject of a number of recent research reports. Compass Point lowered Independent Bank from a “buy” rating to a “neutral” rating and set a $76.00 price objective for the company. in a research note on Wednesday, October 11th. They noted that the move was a valuation call. Zacks Investment Research upgraded Independent Bank from a “sell” rating to a “hold” rating in a research note on Friday, December 22nd. BidaskClub lowered Independent Bank from a “hold” rating to a “sell” rating in a research note on Friday, January 5th. Finally, Keefe, Bruyette & Woods restated a “hold” rating and issued a $73.00 price target on shares of Independent Bank in a research note on Tuesday, October 3rd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $73.00.

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About Independent Bank

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 (NASDAQ:INDB)

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