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.

WARNING: This article was posted by Community Financial News and is the sole property of of Community Financial News. If you are viewing this article on another website, it was copied illegally and reposted in violation of U.S. & international trademark and copyright legislation. The original version of this article can be accessed at

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)

What are top analysts saying about Independent Bank? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Independent Bank and related companies.


Leave a Reply

share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit