Independent Bank Corp. (IBCP) Hits New 12-Month High at $16.34
Independent Bank Corp. (NASDAQ:IBCP)’s share price reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $16.34 and last traded at $16.32, with a volume of 24,854 shares traded. The stock had previously closed at $16.14.
Several equities analysts have issued reports on the company. Boenning Scattergood assumed coverage on Independent Bank Corp. in a research report on Wednesday, May 4th. They set 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 price target on the stock in a research note on Monday, August 1st.
The stock has a market cap of $348.48 million and a price-to-earnings ratio of 17.39. The company has a 50 day moving average of $15.58 and a 200 day moving average of $14.91.
Independent Bank Corp. (NASDAQ:IBCP) last issued its quarterly earnings results on Thursday, July 28th. The financial services provider reported $0.30 EPS for the quarter, topping the consensus estimate of $0.25 by $0.05. On average, equities research analysts expect that Independent Bank Corp. will post $1.01 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Monday, August 15th. Stockholders of record on Monday, August 8th were given a dividend of $0.08 per share. The ex-dividend date of this dividend was Thursday, August 4th. This represents a $0.32 annualized dividend and a dividend yield of 1.95%.
In other news, EVP Stefanie M. Kimball sold 3,000 shares of the 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 of the company’s stock, valued at $748,380.60. The sale was disclosed in a filing with the Securities & Exchange Commission, 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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