Independent Bank Corp. (IBCP) Sets New 12-Month High at $16.34
Independent Bank Corp. (NASDAQ:IBCP) hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $16.34 and last traded at $16.32, with a volume of 24,854 shares trading hands. The stock had previously closed at $16.14.
A number of brokerages have issued reports on IBCP. Boenning Scattergood began coverage on Independent Bank Corp. in a research report on Wednesday, May 4th. They set a “neutral” rating on the stock. Zacks Investment Research upgraded 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, August 1st.
The firm has a 50 day moving average of $15.47 and a 200 day moving average of $14.89. The firm has a market cap of $344.87 million and a PE ratio of 17.21.
Independent Bank Corp. (NASDAQ:IBCP) last posted its earnings results on Thursday, July 28th. The financial services provider reported $0.30 EPS for the quarter, beating the Zacks’ consensus estimate of $0.25 by $0.05. Analysts anticipate that Independent Bank Corp. will post $1.01 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, August 15th. Investors of record on Monday, August 8th were issued a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 1.98%. The ex-dividend date of this dividend was Thursday, August 4th.
In related news, EVP Stefanie M. Kimball sold 3,000 shares of Independent Bank Corp. stock in a transaction dated Tuesday, May 31st. The stock was sold at an average price of $14.85, for a total value of $44,550.00. Following the sale, the executive vice president now directly owns 50,396 shares in the company, valued at approximately $748,380.60. The transaction was disclosed in a legal filing with the SEC, which is available at 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.
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