Independent Bank (INDB) Expected to Announce Quarterly Earnings on Thursday

Independent Bank (NASDAQ:INDB - Get Free Report) is expected to announce its earnings results after the market closes on Thursday, April 17th. Analysts expect the company to announce earnings of $1.19 per share and revenue of $175.03 million for the quarter. Investors interested in registering for the company's conference call can do so using this link.

Independent Bank (NASDAQ:INDB - Get Free Report) last released its quarterly earnings results on Thursday, January 16th. The bank reported $1.21 EPS for the quarter, topping the consensus estimate of $1.16 by $0.05. Independent Bank had a return on equity of 6.57% and a net margin of 19.58%. 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 1.7 %

Shares of INDB stock traded up $0.93 on Tuesday, hitting $55.24. The stock had a trading volume of 280,979 shares, compared to its average volume of 283,240. The company's 50 day moving average price is $63.51 and its 200-day moving average price is $65.33. Independent Bank has a 1 year low of $45.11 and a 1 year high of $77.23. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.95 and a quick ratio of 0.95. The firm has a market capitalization of $2.35 billion, a P/E ratio of 12.22 and a beta of 0.84.

Independent Bank Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 7th. Stockholders of record on Monday, March 31st were given a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 4.27%. The ex-dividend date of this dividend was Monday, March 31st. This is a boost from Independent Bank's previous quarterly dividend of $0.57. Independent Bank's dividend payout ratio is currently 52.21%.

Analyst Upgrades and Downgrades

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

Insider Activity at Independent Bank

In other Independent Bank news, Director Donna L. Abelli sold 640 shares of the stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $70.03, for a total value of $44,819.20. Following the sale, the director now directly owns 12,516 shares of the company's stock, valued at approximately $876,495.48. This represents a 4.86 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. 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.