Independent Bank (INDB) to Release Earnings on Thursday

Independent Bank (NASDAQ:INDB) will be announcing its earnings results before the market opens on Thursday, October 24th. Analysts expect the company to announce earnings of $1.14 per share for the quarter. Investors that are interested in participating in the company’s conference call can do so using this link.

Independent Bank (NASDAQ:INDB) last released its quarterly earnings data on Thursday, July 18th. The bank reported $1.21 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to the consensus estimate of $169.07 million. During the same quarter in the prior year, the firm posted $1.42 earnings per share. On average, analysts expect Independent Bank to post $4 EPS for the current fiscal year and $5 EPS for the next fiscal year.

Independent Bank Price Performance

Shares of INDB opened at $64.24 on Thursday. Independent Bank has a fifty-two week low of $44.63 and a fifty-two week high of $68.75. The company has a market capitalization of $2.73 billion, a price-to-earnings ratio of 12.40 and a beta of 0.74. The firm has a 50-day simple moving average of $60.06 and a 200-day simple moving average of $54.77. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.95 and a current ratio of 0.95.

Independent Bank Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, October 4th. Stockholders of record on Monday, September 30th were paid a dividend of $0.57 per share. The ex-dividend date was Monday, September 30th. This represents a $2.28 annualized dividend and a dividend yield of 3.55%. Independent Bank’s dividend payout ratio (DPR) is 44.02%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. Seaport Res Ptn upgraded shares of Independent Bank from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 22nd. StockNews.com lowered shares of Independent Bank from a “hold” rating to a “sell” rating in a report on Tuesday, September 17th.

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.