Independent Bank Corp. (INDB) To Go Ex-Dividend on December 29th

Independent Bank Corp. (NASDAQ:INDB) announced a quarterly dividend on Wednesday, December 10th. Stockholders of record on Monday, December 29th will be given a dividend of 0.59 per share by the bank on Wednesday, January 7th. This represents a c) dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date of this dividend is Monday, December 29th.

Independent Bank has increased its dividend by an average of 0.1%per year over the last three years and has increased its dividend every year for the last 15 years. Independent Bank has a dividend payout ratio of 34.9% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Independent Bank to earn $6.70 per share next year, which means the company should continue to be able to cover its $2.36 annual dividend with an expected future payout ratio of 35.2%.

Independent Bank Stock Down 0.0%

Shares of NASDAQ INDB opened at $75.68 on Friday. The business has a 50-day moving average price of $71.72 and a 200 day moving average price of $68.80. The stock has a market cap of $3.75 billion, a PE ratio of 18.41 and a beta of 0.81. The company has a quick ratio of 0.94, a current ratio of 0.95 and a debt-to-equity ratio of 0.22. Independent Bank has a 52-week low of $52.15 and a 52-week high of $78.17.

Independent Bank (NASDAQ:INDB) last issued its quarterly earnings data on Wednesday, February 12th. The bank reported $1.01 earnings per share for the quarter. The company had revenue of $175.25 million during the quarter. Independent Bank had a return on equity of 7.19% and a net margin of 16.64%. Equities research analysts forecast that Independent Bank will post 5.41 earnings per share for the current year.

About Independent Bank

Independent Bank Group, Inc (NASDAQ:INDB) is a bank holding company headquartered in McKinney, Texas, that provides a range of financial services through its wholly owned subsidiary, Independent Bank. Tracing its roots to the late 19th century, the company has grown from a single community bank into a regional financial institution serving individuals, small businesses and commercial clients. Independent Bank Group became a bank holding company in 1983 and expanded its footprint through organic growth and strategic acquisitions.

The company’s primary business activities encompass retail and commercial banking, including deposit products, consumer and business lending and credit services.