News headlines about Independent Bank (NASDAQ:INDB) have been trending somewhat positive on Sunday, according to Accern Sentiment Analysis. The research firm identifies negative and positive press coverage by analyzing more than twenty million blog and news sources in real-time. Accern ranks coverage of publicly-traded companies on a scale of negative one to one, with scores closest to one being the most favorable. Independent Bank earned a daily sentiment score of 0.17 on Accern’s scale. Accern also assigned news articles about the bank an impact score of 45.0985918219896 out of 100, indicating that recent press coverage is somewhat unlikely to have an effect on the stock’s share price in the next few days.
INDB has been the topic of several recent research reports. Zacks Investment Research cut Independent Bank from a “hold” rating to a “sell” rating in a research report on Wednesday, October 25th. Compass Point cut Independent Bank from a “buy” rating to a “neutral” rating and set a $76.00 target price on the stock. in a research report on Wednesday, October 11th. They noted that the move was a valuation call. BidaskClub lowered Independent Bank from a “hold” rating to a “sell” rating in a report on Friday, January 5th. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating on shares of Independent Bank in a report on Sunday, January 21st. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company. Independent Bank currently has a consensus rating of “Hold” and a consensus price target of $73.00.
Shares of Independent Bank (NASDAQ INDB) traded down $0.35 on Friday, hitting $71.80. The stock had a trading volume of 60,750 shares, compared to its average volume of 81,253. The stock has a market cap of $1,970.41, a price-to-earnings ratio of 21.37 and a beta of 0.91. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.94 and a current ratio of 0.95. Independent Bank has a 12-month low of $58.30 and a 12-month high of $76.30.
Independent Bank (NASDAQ:INDB) last issued its earnings results on Thursday, January 18th. The bank reported $0.89 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.89. The company had revenue of $89.70 million during the quarter, compared to analyst estimates of $88.31 million. Independent Bank had a return on equity of 10.00% and a net margin of 24.21%. The firm’s quarterly revenue was up 17.2% on a year-over-year basis. During the same quarter last year, the business posted $0.76 EPS. research analysts forecast that Independent Bank will post 4.38 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, January 5th. Investors of record on Tuesday, December 26th were paid a $0.32 dividend. The ex-dividend date was Friday, December 22nd. This represents a $1.28 dividend on an annualized basis and a yield of 1.78%. Independent Bank’s dividend payout ratio (DPR) is 40.25%.
In other Independent Bank news, Director Donna L. Abelli sold 601 shares of the stock in a transaction dated Thursday, January 25th. The stock was sold at an average price of $72.05, for a total transaction of $43,302.05. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Carl Ribeiro sold 700 shares of the firm’s stock in a transaction dated Tuesday, December 12th. The shares were sold at an average price of $69.25, for a total value of $48,475.00. The disclosure for this sale can be found here. Insiders have sold a total of 2,301 shares of company stock worth $161,967 over the last ninety days. 2.67% of the stock is owned by 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.
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