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.

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