Independent Bank Corp. (IBCP) Hits New 1-Year High at $16.34
Independent Bank Corp. (NASDAQ:IBCP) reached a new 52-week high on Monday . The stock traded as high as $16.34 and last traded at $16.27, with a volume of 33,023 shares traded. The stock had previously closed at $16.25.
IBCP has been the topic of several research reports. Zacks Investment Research upgraded shares of Independent Bank Corp. from a “hold” rating to a “buy” rating and set a $17.00 price target on the stock in a research report on Monday, August 1st. Boenning Scattergood initiated coverage on shares of Independent Bank Corp. in a research report on Wednesday, May 4th. They set a “neutral” rating on the stock.
The company has a market cap of $345.30 million and a price-to-earnings ratio of 17.24. The stock has a 50-day moving average of $15.05 and a 200 day moving average of $14.81.
Independent Bank Corp. (NASDAQ:IBCP) last announced its quarterly earnings results on Thursday, July 28th. The financial services provider reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.05. Analysts forecast that Independent Bank Corp. will post $1.01 earnings per share for the current year.
The company also recently announced 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. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.97%. The ex-dividend date of this dividend is Thursday, August 4th.
In other news, EVP Stefanie M. Kimball sold 3,000 shares of Independent Bank Corp. stock in a transaction on Tuesday, May 31st. The stock was sold at an average price of $14.85, for a total transaction of $44,550.00. Following the completion of the sale, the executive vice president now owns 50,396 shares of the company’s stock, valued at $748,380.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
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 MarketBeat.com's FREE daily email newsletter.