Independent Bank Corp (INDB) To Go Ex-Dividend on December 22nd

Independent Bank Corp (NASDAQ:INDB) declared a quarterly dividend on Friday, December 15th, Wall Street Journal reports. Shareholders of record on Tuesday, December 26th will be given a dividend of 0.32 per share by the bank on Friday, January 5th. This represents a $1.28 annualized dividend and a yield of 1.82%. The ex-dividend date of this dividend is Friday, December 22nd.

Shares of Independent Bank (INDB) opened at $70.50 on Friday. Independent Bank has a 12 month low of $57.20 and a 12 month high of $76.30. The firm has a market cap of $1,934.73, a PE ratio of 21.83 and a beta of 0.96. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.17.

Independent Bank (NASDAQ:INDB) last announced its earnings results on Thursday, October 19th. The bank reported $0.87 earnings per share for the quarter, missing the consensus estimate of $0.91 by ($0.04). Independent Bank had a return on equity of 9.76% and a net margin of 23.48%. The business had revenue of $87.84 million for the quarter, compared to analyst estimates of $88.57 million. During the same quarter last year, the company posted $0.78 EPS. Independent Bank’s quarterly revenue was up 12.5% on a year-over-year basis. research analysts expect that Independent Bank will post 3.41 EPS for the current fiscal year.

Several research firms recently issued reports on INDB. Zacks Investment Research cut shares of Independent Bank from a “buy” rating to a “hold” rating in a report on Thursday, August 24th. Keefe, Bruyette & Woods reissued a “hold” rating and set a $73.00 price target on shares of Independent Bank in a report on Tuesday, October 3rd. Finally, Compass Point cut shares of Independent Bank from a “buy” rating to a “neutral” rating and set a $76.00 price target for the company. in a report on Wednesday, October 11th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating and five have issued a hold rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $73.00.

In other news, Director Carl Ribeiro sold 700 shares of the firm’s stock in a transaction that occurred on Tuesday, December 12th. The shares were sold at an average price of $69.25, for a total transaction of $48,475.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Daniel F. Obrien sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 21st. The stock was sold at an average price of $70.19, for a total transaction of $70,190.00. Following the transaction, the director now directly owns 22,912 shares of the company’s stock, valued at $1,608,193.28. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 6,150 shares of company stock valued at $439,814. 2.67% of the stock is currently owned by corporate insiders.

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Independent Bank Company Profile

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.

Dividend History for Independent Bank (NASDAQ:INDB)

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