Independent Bank Corp. (IBCP) Reaches New 12-Month High at $16.15
Independent Bank Corp. (NASDAQ:IBCP)’s share price reached a new 52-week high during trading on Friday . The stock traded as high as $16.15 and last traded at $16.00, with a volume of 64,947 shares. The stock had previously closed at $15.74.
Several research firms recently commented 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 report on Monday.
The firm has a market cap of $337.20 million and a P/E ratio of 16.76. The stock has a 50 day moving average of $14.85 and a 200-day moving average of $14.75.
Independent Bank Corp. (NASDAQ:IBCP) last posted its quarterly earnings results on Thursday, July 28th. The financial services provider reported $0.30 earnings per share for the quarter, beating the consensus estimate of $0.25 by $0.05. Analysts anticipate that Independent Bank Corp. will post $1.02 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, August 15th. Shareholders of record on Monday, August 8th will be given a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 2.02%. The ex-dividend date of this dividend is Thursday, August 4th.
In other Independent Bank Corp. news, EVP Stefanie M. Kimball sold 3,000 shares of the company’s 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 transaction, the executive vice president now directly owns 50,396 shares of the company’s stock, valued at approximately $748,380.60. The sale was disclosed in a legal filing with the SEC, which is accessible 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.
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