Independent Bank Corp. (IBCP) Hits New 1-Year High at $16.34
Independent Bank Corp. (NASDAQ:IBCP)’s share price reached a new 52-week high during trading on Monday . The stock traded as high as $16.34 and last traded at $16.27, with a volume of 33,023 shares trading hands. The stock had previously closed at $16.25.
Several equities analysts recently commented on IBCP shares. Boenning Scattergood started coverage on Independent Bank Corp. in a report on Wednesday, May 4th. They issued a “neutral” rating on the stock. Zacks Investment Research raised Independent Bank Corp. from a “hold” rating to a “buy” rating and set a $17.00 target price on the stock in a report on Monday, August 1st.
The stock’s 50-day moving average is $15.21 and its 200-day moving average is $14.84. The company has a market capitalization of $344.66 million and a P/E ratio of 17.20.
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 for the quarter, beating the Zacks’ consensus estimate of $0.25 by $0.05. Analysts forecast that Independent Bank Corp. will post $1.01 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Monday, August 15th. Shareholders of record on Monday, August 8th were issued a $0.08 dividend. The ex-dividend date of this dividend was Thursday, August 4th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.97%.
In other Independent Bank Corp. news, EVP Stefanie M. Kimball sold 3,000 shares of Independent Bank Corp. stock in a transaction on Tuesday, May 31st. The shares were sold at an average price of $14.85, for a total value of $44,550.00. Following the transaction, the executive vice president now owns 50,396 shares in the company, valued at approximately $748,380.60. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.
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.