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

Independent Bank Corp. (NASDAQ:INDB – Get Free Report) announced a quarterly dividend on Thursday, June 18th. Shareholders of record on Monday, June 29th will be given 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 is Monday, June 29th.

Independent Bank has raised its dividend by an average of 0.1%per year 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% meaning its dividend is sufficiently covered by earnings. Equities research 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%.

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Independent Bank Trading Down 0.0%

NASDAQ:INDB opened at $81.05 on Friday. The company has a market cap of $3.92 billion, a P/E ratio of 16.08 and a beta of 0.77. Independent Bank has a twelve month low of $57.01 and a twelve month high of $87.00. The business has a 50 day moving average price of $78.96 and a two-hundred day moving average price of $78.04. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.22.

Independent Bank (NASDAQ:INDB – Get Free Report) last posted its quarterly earnings data on Thursday, April 16th. The bank reported $1.68 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.70 by ($0.02). Independent Bank had a net margin of 19.14% and a return on equity of 8.66%. The business had revenue of $252.72 million during the quarter, compared to analyst estimates of $251.45 million. During the same quarter last year, the business earned $1.06 earnings per share. As a group, analysts expect that Independent Bank will post 7.33 EPS for the current fiscal year.

About Independent Bank

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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.

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