Independent Bank (INDB) to Release Earnings on Thursday

Independent Bank (NASDAQ:INDB - Get Free Report) is scheduled to release its earnings data after the market closes on Thursday, April 18th. Analysts expect Independent Bank to post earnings of $1.15 per share for the quarter. Persons that wish to listen to the company's earnings conference call can do so using this link.

Independent Bank (NASDAQ:INDB - Get Free Report) last announced its quarterly earnings results on Thursday, January 18th. The bank reported $1.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.25 by $0.01. Independent Bank had a net margin of 26.02% and a return on equity of 8.35%. The firm had revenue of $177.16 million during the quarter, compared to the consensus estimate of $176.75 million. On average, analysts expect Independent Bank to post $5 EPS for the current fiscal year and $5 EPS for the next fiscal year.

Independent Bank Price Performance

INDB stock traded up $0.72 during trading on Thursday, hitting $48.21. 357,308 shares of the stock traded hands, compared to its average volume of 292,574. Independent Bank has a one year low of $43.28 and a one year high of $68.75. The stock has a market cap of $2.05 billion, a price-to-earnings ratio of 8.89 and a beta of 0.83. The company has a 50 day simple moving average of $51.50 and a 200 day simple moving average of $54.81. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.42.

Independent Bank Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 5th. Investors of record on Monday, April 1st were issued a dividend of $0.57 per share. This is an increase from Independent Bank's previous quarterly dividend of $0.55. This represents a $2.28 annualized dividend and a yield of 4.73%. The ex-dividend date was Thursday, March 28th. Independent Bank's dividend payout ratio (DPR) is currently 42.07%.

Analyst Ratings Changes

INDB has been the subject of several analyst reports. TheStreet downgraded shares of Independent Bank from a "b-" rating to a "c+" rating in a report on Wednesday, March 13th. Keefe, Bruyette & Woods dropped their target price on shares of Independent Bank from $66.00 to $64.00 and set a "market perform" rating for the company in a research note on Monday, January 22nd.

Insiders Place Their Bets

In other Independent Bank news, Director Donna L. Abelli sold 800 shares of the business's stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $52.83, for a total value of $42,264.00. Following the completion of the transaction, the director now directly owns 11,640 shares of the company's stock, valued at $614,941.20. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.97% of the company's stock.

Institutional Investors Weigh In On Independent Bank

Institutional investors and hedge funds have recently modified their holdings of the business. State of Wyoming raised its stake in shares of Independent Bank by 44.4% during the fourth quarter. State of Wyoming now owns 543 shares of the bank's stock worth $46,000 after buying an additional 167 shares during the last quarter. Tower Research Capital LLC TRC raised its stake in shares of Independent Bank by 30.4% during the third quarter. Tower Research Capital LLC TRC now owns 1,262 shares of the bank's stock worth $62,000 after buying an additional 294 shares during the last quarter. FMR LLC raised its stake in shares of Independent Bank by 7.9% during the second quarter. FMR LLC now owns 1,854 shares of the bank's stock worth $147,000 after buying an additional 135 shares during the last quarter. Point72 Hong Kong Ltd bought a new stake in shares of Independent Bank during the second quarter worth approximately $166,000. Finally, Point72 Asset Management L.P. bought a new stake in shares of Independent Bank during the second quarter worth approximately $98,000. 83.40% of the stock is owned by institutional investors.

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.