Independent Bank Corp. (NASDAQ:INDB) Announces Quarterly Dividend of $0.64

Independent Bank Corp. (NASDAQ:INDB) announced a quarterly dividend on Thursday, June 18th. Investors of record on Monday, June 29th will be paid a dividend of 0.64 per share by the bank on Thursday, July 9th. This represents a c) annualized dividend and a yield of 3.2%. The ex-dividend date of this dividend is Monday, June 29th.

Independent Bank has raised its dividend payment by an average of 0.1%annually over the last three years and has increased its dividend annually for the last 15 consecutive years. Independent Bank has a dividend payout ratio of 37.8% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Independent Bank to earn $8.33 per share next year, which means the company should continue to be able to cover its $2.56 annual dividend with an expected future payout ratio of 30.7%.

Independent Bank Stock Down 0.0%

Shares of INDB opened at $81.05 on Friday. The company’s 50-day moving average price is $78.96 and its 200 day moving average price is $78.04. Independent Bank has a 12-month low of $57.01 and a 12-month high of $87.00. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.22. The firm has a market cap of $3.92 billion, a P/E ratio of 16.08 and a beta of 0.77.

Independent Bank (NASDAQ:INDB) last announced its earnings results on Thursday, April 16th. The bank reported $1.68 earnings per share for the quarter, missing the consensus estimate of $1.70 by ($0.02). Independent Bank had a return on equity of 8.66% and a net margin of 19.14%.The company had revenue of $252.72 million for the quarter, compared to analysts’ expectations of $251.45 million. During the same period last year, the business earned $1.06 EPS. On average, sell-side analysts forecast that Independent Bank will post 7.33 earnings per share for the current year.

Independent Bank Company Profile

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.