Independent Bank Corp (INDB) Earning Somewhat Positive Press Coverage, Report Shows
Headlines about Independent Bank Corp (NASDAQ:INDB) have trended somewhat positive on Thursday, according to Alpha One. The research firm, a subsidiary of Accern, identifies negative and positive press coverage by monitoring more than twenty million news and blog sources in real time. Alpha One ranks coverage of publicly-traded companies on a scale of negative one to one, with scores closest to one being the most favorable. Independent Bank Corp earned a daily sentiment score of 0.13 on Alpha One’s scale. Alpha One also assigned headlines about the bank an impact score of 0 out of 100, meaning that recent press coverage is extremely unlikely to have an effect on the company’s share price in the next several days.
These are some of the news headlines that may have effected AlphaOne’s scoring:
- Independent Bank Corp (INDB) Releases Earnings Results, Meets Expectations (americanbankingnews.com)
- BRIEF-Independent Bank Q1 earnings per share $0.76 (reuters.com)
- Independent Bank Corp. : Reports First Quarter Net Income of $20.7 Million (4-traders.com)
- Positive News Coverage Very Unlikely to Affect Independent Bank Corp (INDB) Share Price (americanbankingnews.com)
- What should you know before buying Independent Bank Corp (INDB) for its dividend (simplywall.st)
Independent Bank Corp (NASDAQ:INDB) traded up 3.18% during midday trading on Thursday, hitting $64.85. The stock had a trading volume of 108,474 shares. The company has a market capitalization of $1.75 billion, a PE ratio of 22.36 and a beta of 0.96. Independent Bank Corp has a 1-year low of $42.44 and a 1-year high of $71.95. The stock’s 50-day moving average is $63.37 and its 200-day moving average is $62.89.
Independent Bank Corp (NASDAQ:INDB) last issued its quarterly earnings data on Thursday, April 20th. The bank reported $0.78 EPS for the quarter, hitting analysts’ consensus estimates of $0.78. Independent Bank Corp had a net margin of 23.29% and a return on equity of 9.83%. During the same period in the prior year, the business earned $0.72 earnings per share. Equities research analysts forecast that Independent Bank Corp will post $3.39 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 7th. Investors of record on Monday, March 27th were paid a $0.32 dividend. This is an increase from Independent Bank Corp’s previous quarterly dividend of $0.29. The ex-dividend date was Thursday, March 23rd. This represents a $1.28 dividend on an annualized basis and a yield of 1.97%. Independent Bank Corp’s payout ratio is 40.00%.
A number of equities research analysts have recently weighed in on the company. Compass Point raised Independent Bank Corp from a “sell” rating to a “neutral” rating in a research note on Tuesday, March 28th. Zacks Investment Research lowered Independent Bank Corp from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, March 22nd.
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In related news, Director Maurice H. Sullivan, Jr. sold 4,275 shares of the business’s stock in a transaction that occurred on Friday, March 10th. The shares were sold at an average price of $64.65, for a total value of $276,378.75. Following the completion of the transaction, the director now owns 28,455 shares of the company’s stock, valued at $1,839,615.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Christopher Oddleifson sold 2,000 shares of the business’s stock in a transaction that occurred on Thursday, January 26th. The stock was sold at an average price of $63.73, for a total transaction of $127,460.00. Following the completion of the transaction, the insider now directly owns 93,799 shares of the company’s stock, valued at approximately $5,977,810.27. The disclosure for this sale can be found here. Insiders sold 9,550 shares of company stock valued at $609,416 in the last three months. 3.02% of the stock is currently owned by insiders.
About Independent Bank Corp
Independent Bank Corp. is a bank holding company. The Company operates through its subsidiary, Rockland Trust Company (the Bank). The Bank is a community-oriented commercial bank. Its community banking business provides a range of banking services, including lending activities, acceptance of demand, savings, and time deposits, and investment management.
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