Independent Bank Corp. (NASDAQ:IBCP) rose 2% during trading on Tuesday . The company traded as high as $15.55 and last traded at $15.55, with a volume of 57,123 shares. The stock had previously closed at $15.25.

IBCP has been the topic of a number of recent analyst reports. Boenning Scattergood initiated coverage on shares of Independent Bank Corp. in a research note on Wednesday, May 4th. They set a “neutral” rating on the stock. Zacks Investment Research upgraded shares of Independent Bank Corp. from a “hold” rating to a “buy” rating and set a $17.00 price objective on the stock in a research report on Monday.

The stock’s 50 day moving average is $14.79 and its 200-day moving average is $14.73. The company has a market cap of $334.01 million and a PE ratio of 16.60.

Independent Bank Corp. (NASDAQ:IBCP) last posted its quarterly earnings data on Thursday, July 28th. The financial services provider reported $0.30 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.25 by $0.05. On average, equities analysts expect that Independent Bank Corp. will post $1.02 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 15th. Stockholders of record on Monday, August 8th will be issued a dividend of $0.08 per share. The ex-dividend date is Thursday, August 4th. This represents a $0.32 annualized dividend and a dividend yield of 2.04%.

In other news, EVP Stefanie M. Kimball sold 3,000 shares of the company’s stock in a transaction dated Tuesday, May 31st. The shares were sold at an average price of $14.85, for a total transaction of $44,550.00. Following the transaction, the executive vice president now owns 50,396 shares in the company, valued at $748,380.60. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Independent Bank Corporation is a bank holding company. The Company owns all of the outstanding stock of Independent Bank (the Bank). The Bank is engaged in providing commercial banking. The Bank offers a range of banking services to individuals and businesses, including checking and savings accounts, commercial lending, direct and indirect consumer financing, mortgage lending and safe deposit box services.

Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with's FREE daily email newsletter.