Independent Bank Corp. (IBCP) Stock Price Up 2%
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.