Independent Bank (NASDAQ:INDB) Posts Earnings Results, Beats Expectations By $0.02 EPS

by · The Markets Daily

Independent Bank (NASDAQ:INDB – Get Free Report) announced its quarterly earnings results on Thursday. The bank reported $1.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.99 by $0.02, Yahoo Finance reports. The firm had revenue of $250.07 million for the quarter, compared to the consensus estimate of $173.24 million. Independent Bank had a net margin of 22.42% and a return on equity of 7.41%. During the same quarter last year, the firm posted $1.38 EPS.

Independent Bank Stock Performance

NASDAQ:INDB opened at $65.09 on Friday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.95 and a current ratio of 0.95. The stock has a 50-day simple moving average of $60.19 and a two-hundred day simple moving average of $54.84. The firm has a market capitalization of $2.76 billion, a PE ratio of 12.57 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 business also recently announced a quarterly dividend, which was paid on Friday, October 4th. Investors of record on Monday, September 30th were given a dividend of $0.57 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $2.28 annualized dividend and a yield of 3.50%. Independent Bank’s dividend payout ratio (DPR) is presently 44.02%.

Analyst Ratings Changes

INDB has been the topic of a number of recent analyst reports. Seaport Res Ptn raised shares of Independent Bank from a “hold” rating to a “strong-buy” rating in a report on Monday, July 22nd. StockNews.com downgraded shares of Independent Bank from a “hold” rating to a “sell” rating in a report on Tuesday, September 17th.

View Our Latest Research Report on INDB

Independent Bank Company Profile

(Get Free Report)

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.

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