Independent Bank Corp. (NASDAQ:INDB) to Issue Quarterly Dividend of $0.64

Independent Bank Corp. (NASDAQ:INDB) declared a quarterly dividend on Thursday, June 18th. Investors of record on Monday, June 29th will be paid a dividend of 0.64 per share by the bank on Thursday, July 9th. This represents a c) dividend on an annualized basis and a yield of 3.2%. The ex-dividend date is Monday, June 29th.

Independent Bank has increased its dividend payment by an average of 0.1%per year over the last three years and has raised its dividend every year for the last 15 years. Independent Bank has a payout ratio of 37.8% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Independent Bank to earn $8.33 per share next year, which means the company should continue to be able to cover its $2.56 annual dividend with an expected future payout ratio of 30.7%.

Independent Bank Trading Down 0.0%

INDB stock opened at $81.05 on Friday. Independent Bank has a 12-month low of $57.01 and a 12-month high of $87.00. The business’s 50-day moving average is $78.96 and its 200 day moving average is $78.04. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.22. The stock has a market cap of $3.92 billion, a price-to-earnings ratio of 16.08 and a beta of 0.77.

Independent Bank (NASDAQ:INDB) last announced its earnings results on Thursday, April 16th. The bank reported $1.68 EPS for the quarter, missing analysts’ consensus estimates of $1.70 by ($0.02). The firm had revenue of $252.72 million for the quarter, compared to analyst estimates of $251.45 million. Independent Bank had a net margin of 19.14% and a return on equity of 8.66%. During the same period in the previous year, the company earned $1.06 EPS. On average, sell-side analysts anticipate that Independent Bank will post 7.33 EPS for the current fiscal year.

About Independent Bank

Independent Bank Group, Inc (NASDAQ:INDB) is a bank holding company headquartered in McKinney, Texas, that provides a range of financial services through its wholly owned subsidiary, Independent Bank. Tracing its roots to the late 19th century, the company has grown from a single community bank into a regional financial institution serving individuals, small businesses and commercial clients. Independent Bank Group became a bank holding company in 1983 and expanded its footprint through organic growth and strategic acquisitions.

The company’s primary business activities encompass retail and commercial banking, including deposit products, consumer and business lending and credit services.