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.

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