Independent Bank (INDB) Projected to Post Earnings on Thursday

Independent Bank (NASDAQ:INDB) is expected to post its quarterly earnings results before the market opens 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. Parties that wish to listen to the company’s conference call can do so using this link.

Independent Bank (NASDAQ:INDB) last released its earnings results on Thursday, January 16th. The bank reported $1.21 EPS for the quarter, topping analysts’ consensus estimates 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 Trading Up 7.3 %

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

Independent Bank Increases Dividend

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

Analyst Ratings Changes

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

Insider Activity at Independent Bank

In related news, Director Donna L. Abelli sold 640 shares of the company’s stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $70.03, for a total transaction of $44,819.20. Following the completion of the transaction, the director now 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.87% of the stock is owned by corporate 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.