Media stories about Independent Bank (NASDAQ:INDB) have trended somewhat positive on Tuesday, Accern reports. The research firm identifies negative and positive press coverage by reviewing more than 20 million news and blog sources in real time. Accern ranks coverage of public companies on a scale of negative one to positive one, with scores closest to one being the most favorable. Independent Bank earned a news sentiment score of 0.17 on Accern’s scale. Accern also assigned press coverage about the bank an impact score of 46.2343250354425 out of 100, meaning that recent press coverage is somewhat unlikely to have an effect on the company’s share price in the immediate future.
INDB has been the topic of several analyst reports. BidaskClub upgraded Independent Bank from a “sell” rating to a “hold” rating in a research report on Monday, February 5th. Compass Point upgraded Independent Bank from a “neutral” rating to a “buy” rating in a research report on Monday, December 18th. Zacks Investment Research upgraded Independent Bank from a “sell” rating to a “hold” rating in a research report on Friday, December 22nd. Finally, Keefe, Bruyette & Woods restated a “hold” rating on shares of Independent Bank in a research report on Sunday, January 21st. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $73.00.
INDB opened at $73.25 on Tuesday. Independent Bank has a 12 month low of $59.65 and a 12 month high of $76.35. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.94 and a current ratio of 0.95. The company has a market capitalization of $1,997.40, a P/E ratio of 21.87 and a beta of 0.87.
The firm also recently announced a quarterly dividend, which was paid on Friday, April 6th. Investors of record on Monday, March 26th were given a $0.38 dividend. This is a boost from Independent Bank’s previous quarterly dividend of $0.32. This represents a $1.52 annualized dividend and a yield of 2.08%. The ex-dividend date was Friday, March 23rd. Independent Bank’s dividend payout ratio (DPR) is currently 45.37%.
In other news, Director Donna L. Abelli sold 601 shares of Independent Bank stock in a transaction on Thursday, January 25th. The stock was sold at an average price of $72.05, for a total transaction of $43,302.05. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Robert D. Cozzone purchased 788 shares of the stock in a transaction dated Friday, February 23rd. The shares were purchased at an average price of $71.25 per share, for a total transaction of $56,145.00. The disclosure for this purchase can be found here. 2.67% of the stock is owned by company insiders.
Independent Bank Company Profile
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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