Independent Bank Corp. (NASDAQ:INDB – Get Free Report) has been given an average rating of “Buy” by the two ratings firms that are currently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a hold recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $60.00.
Several brokerages have issued reports on INDB. StockNews.com cut shares of Independent Bank from a “hold” rating to a “sell” rating in a report on Sunday. Seaport Res Ptn upgraded shares of Independent Bank from a “hold” rating to a “strong-buy” rating in a report on Monday, July 22nd.
Get Our Latest Research Report on Independent Bank
Institutional Trading of Independent Bank
Independent Bank Trading Up 0.3 %
NASDAQ INDB opened at $63.31 on Tuesday. The company’s 50-day moving average price is $57.19 and its 200-day moving average price is $52.91. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.24. The stock has a market cap of $2.69 billion, a PE ratio of 12.22 and a beta of 0.77. Independent Bank has a 12 month low of $44.63 and a 12 month high of $68.75.
Independent Bank (NASDAQ:INDB – Get Free Report) last issued its earnings results on Thursday, July 18th. The bank reported $1.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.11 by $0.10. Independent Bank had a net margin of 22.42% and a return on equity of 7.41%. The company had revenue of $244.19 million for the quarter, compared to analysts’ expectations of $169.07 million. During the same period in the prior year, the business earned $1.42 EPS. Equities research analysts forecast that Independent Bank will post 4.75 earnings per share for the current year.
Independent Bank Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Monday, July 8th. Shareholders of record on Monday, July 1st were issued a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 3.60%. The ex-dividend date was Monday, July 1st. Independent Bank’s payout ratio is 44.02%.
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.
Featured Articles
- Five stocks we like better than Independent Bank
- Most Volatile Stocks, What Investors Need to Know
- Autodesk Stock: Analysts’ Top AI Pick You Shouldn’t Overlook
- The Significance of Brokerage Rankings in Stock Selection
- Hidden Opportunities in Li Auto’s Tough Quarter You Can’t Miss
- 3 Must-Buy Warren Buffett Stocks for Volatile Times
- Don’t Overlook Campbell Soup: Here’s What Could Drive Its Stock
Receive News & Ratings for Independent Bank Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Independent Bank and related companies with MarketBeat.com's FREE daily email newsletter.