Independent Bank (INDB) to Release Earnings on Thursday

Independent Bank (NASDAQ:INDB) is scheduled to announce 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 wish to listen to the company’s conference call can do so using this link.

Independent Bank (NASDAQ:INDB) last posted its earnings results on Thursday, July 18th. The bank reported $1.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.11 by $0.10. The firm had revenue of $244.19 million during the quarter, compared to analyst estimates of $169.07 million. Independent Bank had a net margin of 22.42% and a return on equity of 7.41%. During the same period in the previous year, the business posted $1.42 EPS. 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 Trading Up 1.9 %

Independent Bank stock opened at $64.24 on Thursday. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.24. The firm has a 50-day moving average price of $60.06 and a two-hundred day moving average price of $54.77. The firm has a market capitalization of $2.73 billion, a price-to-earnings ratio of 12.40 and a beta of 0.74. Independent Bank has a 52-week low of $44.63 and a 52-week high of $68.75.

Independent Bank Dividend Announcement

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

Wall Street Analyst Weigh In

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

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.