Independent Bank (NASDAQ:INDB) will post its quarterly earnings results after the market closes on Thursday, April 18th. Analysts expect Independent Bank to post earnings of $1.33 per share for the quarter.
Independent Bank (NASDAQ:INDB) last issued its quarterly earnings data on Thursday, January 17th. The bank reported $1.29 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.30 by ($0.01). The firm had revenue of $103.78 million during the quarter, compared to the consensus estimate of $103.00 million. Independent Bank had a net margin of 29.50% and a return on equity of 12.96%. On average, analysts expect Independent Bank to post $6 EPS for the current fiscal year and $6 EPS for the next fiscal year.
Shares of NASDAQ:INDB opened at $85.55 on Tuesday. The stock has a market capitalization of $2.44 billion, a P/E ratio of 18.24 and a beta of 1.07. Independent Bank has a fifty-two week low of $66.12 and a fifty-two week high of $95.00. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.96 and a current ratio of 0.96.
In other Independent Bank news, President Gerard F. Nadeau sold 2,500 shares of the business’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $81.69, for a total transaction of $204,225.00. Following the sale, the president now directly owns 19,227 shares in the company, valued at approximately $1,570,653.63. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Robert D. Cozzone sold 3,206 shares of the business’s stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $81.01, for a total transaction of $259,718.06. The disclosure for this sale can be found here. Insiders have sold a total of 10,256 shares of company stock worth $824,839 over the last 90 days. 1.60% of the stock is owned by insiders.
Several analysts recently weighed in on the stock. Sandler O’Neill upgraded shares of Independent Bank from a “hold” rating to a “buy” rating in a research report on Wednesday, April 3rd. BidaskClub upgraded shares of Independent Bank from a “sell” rating to a “hold” rating in a research report on Wednesday, March 27th. Compass Point downgraded shares of Independent Bank from a “buy” rating to a “neutral” rating in a research report on Tuesday, January 8th. Finally, Zacks Investment Research downgraded shares of Independent Bank from a “buy” rating to a “hold” rating in a research report on Tuesday, December 25th. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $85.67.
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 primarily in Massachusetts. The company's products and services include demand deposits and time certificates of deposit, as well as checking, money market, and savings accounts.
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