Independent Bank Corp. (NASDAQ:INDB) will begin trading ex-dividend on December 24, 2020. The quarterly dividend payment of $ 0.46 per share is scheduled to be paid on January 8, 2021. The dividend yield based on the latest trading day closing price was 2.57 percent. Shareholders who purchased INDB shares prior to the ex-dividend date are eligible for the cash dividend payment.
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Independent Bank Corp. recently reported third quarter financial results on October 22, 2020, after market close, commercial banking products and services provider recorded income for the third quarter of $ 1.06 per share, from the revenue of $ 120.23 million. The quarterly earnings contracted 29.33 percent while revenues down 11.86 percent compared with the same quarter last year.
Street analysts expected Independent Bank Corp. recently reported third quarter financial results on October 22, 2020, after market close, commercial banking products and services provider to report income of $ 0.81 per share on revenue of $ 122.48 million for the third quarter. The bottom line results beat street analysts by $ 0.25 or 30.86 percent, at the same time, top line results fell short of analysts by $ 2.25 million or 1.84 percent.
Shares of Independent Bank Corp. traded low $ -1.48 or -2.03 percent on Tuesday, reaching $ 71.59 with volume of 103.50 thousand shares. Independent Bank Corp. has traded high as $ 73.40 and has cracked $ 71.16 on the downward trend
According to the previous trading day, closing price of $ 71.59, representing a 48.37 % increase from the 52 week low of $ 49.25 and a 14.29 % decrease over the 52 week high of $ 85.25.
The company has a market capital of $ 2.36 billion and is part of the Financial Services sector and Banks – Regional – US industry.
Independent Bank Corp. operates as the bank holding company for Rockland Trust Company that provides commercial banking products and services to individuals and small-to-medium sized businesses primarily in Massachusetts. Its products and services include demand deposits and time certificates of deposit, as well as checking, money market, and savings accounts.