Earnings Report: Here’s what to expect from Independent Bank (NASDAQ:INDB)

Earnings results for Independent Bank (NASDAQ:INDB)

Independent Bank Corp. is expected* to report earnings on 07/22/2021 after market close. The report will be for the fiscal Quarter ending Jun 2021. According to Zacks Investment Research, based on 2 analysts’ forecasts, the consensus EPS forecast for the quarter is $1.1. The reported EPS for the same quarter last year was $0.76.

Independent Bank last announced its quarterly earnings results on April 21st, 2021. The bank reported $1.26 earnings per share for the quarter, beating analysts’ consensus estimates of $1.09 by $0.17. The company earned $120.83 million during the quarter, compared to analysts’ expectations of $115.38 million. Independent Bank has generated $3.66 earnings per share over the last year and currently has a price-to-earnings ratio of 17.1. Independent Bank has confirmed that its next quarterly earnings report will be published on Thursday, July 22nd, 2021. Independent Bank will be holding an earnings conference call on Friday, July 23rd at 10:00 AM Eastern. Interested parties can register for or listen to the call using this link or dial in at 877-344-7529 with passcode “10157162”.

Analyst Opinion on Independent Bank (NASDAQ:INDB)

4 Wall Street analysts have issued ratings and price targets for Independent Bank in the last 12 months. Their average twelve-month price target is $84.67, predicting that the stock has a possible upside of 20.13%. The high price target for INDB is $94.00 and the low price target for INDB is $70.00. There are currently 1 hold rating and 3 buy ratings for the stock, resulting in a consensus rating of “Buy.”

Independent Bank has received a consensus rating of Buy. The company’s average rating score is 2.75, and is based on 3 buy ratings, 1 hold rating, and no sell ratings. According to analysts’ consensus price target of $84.67, Independent Bank has a forecasted upside of 20.1% from its current price of $70.48. Independent Bank has only been the subject of 2 research reports in the past 90 days.

Dividend Strength: Independent Bank (NASDAQ:INDB)

Independent Bank pays a meaningful dividend of 2.74%, higher than the bottom 25% of all stocks that pay dividends. Independent Bank has been increasing its dividend for 7 years. The dividend payout ratio of Independent Bank is 52.46%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, Independent Bank will have a dividend payout ratio of 39.83% next year. This indicates that Independent Bank will be able to sustain or increase its dividend.

Insiders buying/selling: Independent Bank (NASDAQ:INDB)

In the past three months, Independent Bank insiders have sold more of their company’s stock than they have bought. Specifically, they have bought $0.00 in company stock and sold $83,240.00 in company stock. Only 1.20% of the stock of Independent Bank is held by insiders. 80.36% of the stock of Independent Bank is held by institutions. High institutional ownership can be a signal of strong market trust in this company.

Earnings and Valuation of Independent Bank (NASDAQ:INDB

Earnings for Independent Bank are expected to grow by 6.87% in the coming year, from $4.51 to $4.82 per share. The P/E ratio of Independent Bank is 17.07, which means that it is trading at a less expensive P/E ratio than the market average P/E ratio of about 20.10. The P/E ratio of Independent Bank is 17.07, which means that it is trading at a more expensive P/E ratio than the Finance sector average P/E ratio of about 16.75. Independent Bank has a P/B Ratio of 1.36. P/B Ratios below 3 indicates that a company is reasonably valued with respect to its assets and liabilities.

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