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

Independent Bank (NASDAQ:INDB) will likely be announcing its earnings results before the market opens 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. Parties that wish to listen to the company’s conference call can do so using this link.

Independent Bank (NASDAQ:INDB) last announced its quarterly earnings results on Thursday, January 16th. The bank reported $1.21 earnings per share 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 Price Performance

Independent Bank stock opened at $58.62 on Thursday. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.23. The stock has a market cap of $2.50 billion, a P/E ratio of 12.97 and a beta of 0.84. The company has a 50-day moving average price of $64.63 and a 200 day moving average price of $65.46. Independent Bank has a 12-month low of $45.11 and a 12-month high of $77.23.

Independent Bank Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 7th. Stockholders of record on Monday, March 31st were issued a dividend of $0.59 per share. The ex-dividend date was Monday, March 31st. This represents a $2.36 dividend on an annualized basis and a dividend yield of 4.03%. This is an increase from Independent Bank’s previous quarterly dividend of $0.57. Independent Bank’s dividend payout ratio (DPR) is currently 52.21%.

Wall Street Analysts Forecast Growth

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

Insiders Place Their Bets

In other Independent Bank news, Director Donna L. Abelli sold 640 shares of the 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 sale, the director now directly owns 12,516 shares in the company, valued at $876,495.48. This represents a 4.86 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.87% of the company’s stock.

Independent Bank Company Profile

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.